ICT Opening Price Line

The ICT Opening Price Line indicator automatically plots horizontal lines at key New York session opening times to help traders identify premium and discount zones based on Inner Circle Trader (ICT) concepts.

Usage

The ICT Opening Price Line tool can be used to monitor specific price levels throughout the trading day. These levels often act as a "true open" or a pivot point for institutional order flow. For example, traders can use the Midnight (0:00) open to determine if the current price is trading at a premium (above the open) or a discount (below the open) relative to the daily start.

The indicator allows users to toggle specific times including 0:00, 8:30, 9:30, and 13:30. These lines extend into the future by a user-defined number of bars, providing a clear visual reference even as new price action develops.

Details

The script tracks specific time-based opening prices using the "America/New_York" timezone to ensure consistency with ICT methodology regardless of the user's local chart time. It uses a dynamic plotting mechanism that updates the line position and label based on the most recent session data. The script also includes logic to prevent displaying "yesterday's" opening price before the current day's selected time has arrived, ensuring the chart remains clean and relevant to the current session.

Settings

Select Open Price Times

• 0:00 Open Price: Toggles the visibility of the New York Midnight opening price line.
• 8:30 Open Price: Toggles the visibility of the 8:30 AM New York opening price line.
• 9:30 Open Price: Toggles the visibility of the 9:30 AM New York equity open price line.
• 13:30 Open Price: Toggles the visibility of the 1:30 PM New York afternoon session opening price line.
• Don't show yesterday's price...: When enabled, prevents the indicator from displaying levels from the previous day if the current day's time has not yet been reached.

Cosmetics

• Show Labels: Enables or disables text labels (e.g., "NY 0:00") next to the lines.
• Label Color: Sets the background color for the text labels.
• Line Style: Choose between Solid, Dotted, or Dashed line rendering.
• Width: Adjusts the thickness of the horizontal lines.
• Color: Sets the primary color for the opening price lines.
• How many bars to plot forward: Determines how far the line extends past the most recent bar.

FAQ

How do I use the ICT Opening Price Line?

Simply add the indicator to your chart and select which opening times you wish to monitor in the settings menu. The lines will appear automatically at the specified times.

Can I change the timezone?

The indicator is hardcoded to use "America/New_York" time to align with ICT concepts, ensuring the levels are accurate relative to the New York session.

How can I access this indicator?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.