PDH/PDL + PWH/PWL + ICT Bias Filter

The PDH/PDL + PWH/PWL + ICT Bias Filter indicator provides a comprehensive toolkit for identifying institutional liquidity levels and market direction across multiple timeframes. By combining historical high/low levels with advanced bias filtering, it helps traders pinpoint potential reversal or continuation zones.

Usage

The indicator can be used to identify key liquidity pools and determine the current market sentiment.

• Liquidity Levels: The script plots Previous Day High/Low (PDH/PDL) and Previous Week High/Low (PWH/PWL) as horizontal rays. These levels often act as significant support or resistance where institutional orders may reside.
• ICT Daily/Weekly Bias: The bias logic evaluates whether the previous period's high or low was swept and where the candle closed relative to that range. A sweep of a low followed by a close inside the range suggests a bullish reversal, while a close above the range suggests bullish continuation.
• Multi-Timeframe Structure: The bias panel tracks the trend on the 4H, 1H, and 15M timeframes by detecting breaks in market structure using pivot points. This allows traders to align their lower-timeframe entries with higher-timeframe trends.

Details

The script utilizes request.security to fetch data from higher timeframes (Daily, Weekly, 4H, 1H, 15M) without lookahead bias. The structure-based bias is calculated using a pivot-point mechanism where a break above the last swing high results in a bullish signal, and a break below the last swing low results in a bearish signal. The "ICT-style" bias logic is specifically designed to detect liquidity grabs (sweeps) which are common in Inner Circle Trader (ICT) methodologies.

Settings

• Show PDH/PDL/PWH/PWL: Toggles the visibility of the previous day and previous week high/low levels.
• Show London High/Low: Enables the display of the London session high and low levels.
• Show Bias Panel: Toggles the visibility of the multi-timeframe bias table.
• Pivot Left/Right: Sets the number of bars used to identify pivot highs and lows for structure detection.
• London Session (UTC): Defines the time range for the London session tracking.

FAQ

How do I interpret the Bias Panel colors?

The panel uses green for bullish sentiment, red for bearish sentiment, and gray for neutral conditions across the Daily, Weekly, and intraday timeframes.

What do the horizontal rays represent?

The rays represent Previous Day/Week Highs and Lows, starting from the specific bar where the price level was established and extending to the right of the chart.

How can I access this tool?

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