OTE visible chart

The OTE visible chart indicator automates the identification of Optimal Trade Entry zones based on ICT concepts by dynamically calculating Fibonacci retracements on the visible range of the chart. It provides traders with a clear visual area for potential trade setups by automatically detecting bullish or bearish shifts within the current view.

Usage

The indicator is designed to help traders find high-probability retracement entries without manual Fibonacci drawing.

• Bullish Scenario: When the visible chart shows a low followed by a high, the tool highlights the OTE box (61.8% - 78.6% retracement) below the high, indicating a potential buy zone.
• Bearish Scenario: When the visible chart shows a high followed by a low, the tool highlights the OTE box (61.8% - 78.6% retracement) above the low, indicating a potential sell zone.
• Dynamic Scaling: As you scroll or zoom the chart, the anchor points adjust to the highest and lowest points currently visible, ensuring the levels remain relevant to the current perspective.

Details

The script utilizes the "Visible Chart" logic to determine its anchor points. It identifies the highest high and lowest low within the user's current window. Depending on which point occurs first in time, the script determines the market bias (Bullish if the low is first, Bearish if the high is first) and projects the Fibonacci levels accordingly. This implementation allows for a fluid analysis of market structure as the user navigates through different timeframes or price action segments.

Settings

General

• Use Candle Bodies to anchor range: When enabled, the script uses the highest and lowest candle bodies instead of wicks to define the Fibonacci range.

OTE Box

• Show Fib Box: Toggles the visibility of the primary OTE shaded area.
• Box Color: Customizes the background color of the OTE zone.
• Show Text: Displays the "OTE" label inside the box.

Fib Retracements

• High/Low lines: Toggles the visibility of the 0% and 100% boundary lines.
• Midline: Toggles the 50% equilibrium line.
• Show 61.8 / 78.6 / 88.6 line: Individual toggles to display specific Fibonacci retracement levels.
• Show Labels: Displays the price values associated with the retracement levels.

Fib Extensions

• Ext#1 - Ext#6: Toggles for various Fibonacci extension levels (e.g., -0.618, -1.0) used for profit targets.
• Flip/invert extensions: Changes the direction and calculation method of the extension levels.
• Show Labels: Displays price and ratio labels for the extensions.

FAQ

How do I use the OTE visible chart indicator?

Simply add it to your chart and adjust your zoom level. The indicator will automatically find the peak and trough of your current view and draw the 61.8%-78.6% zone for you.

Can I use candle bodies instead of wicks?

Yes, you can enable the "Use Candle Bodies to anchor range" setting in the indicator inputs to ignore wick volatility for a more conservative range.

How do I get access to OTE visible chart?

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