ICT Daily Bias Finder [DTCC]

The ICT Daily Bias Finder [DTCC] tool identifies potential session biases for the London and New York trading sessions using the DTCC (Daily Trading Cycle Concept) method. It aims to provide traders with a directional framework for intraday movements relative to the midnight opening price, specifically optimized for the 5-minute timeframe.

Usage

The indicator relies on the visual output of two boxes from the previous trading day. Traders should interpret the combination of these boxes to determine the bias for the following day:

• Mixed Bias (Bullish then Bearish): If the first box is Bullish and the second is Bearish, the bias suggests the London session will trade above the midnight opening price (Longs), while the New York session will trade below it (Shorts).
• Mixed Bias (Bearish then Bullish): If the first box is Bearish and the second is Bullish, the bias suggests the London session will trade below the midnight opening price (Shorts), while the New York session will trade above it (Longs).
• Uniform Bias: If both boxes are the same color (both Bullish or both Bearish), the DTCC signal is considered unreliable for that specific day.

The indicator includes a dashboard in the top-right corner to summarize these findings and provides real-time alerts when a session bias is established.

Details

The script executes logic based on specific time intervals in the America/New_York timezone (14:00-14:45 and 20:00-20:45) to determine the "DTCC boxes." These boxes calculate the price action relative to the start of the interval to define the underlying bias. Credits for the DTCC concept go to Patek Fynnip. The script is strictly designed for the 5-minute timeframe as it utilizes security calls to that specific resolution to maintain consistency in calculations.

Settings

Settings

• Dashboard: Toggles the visibility of the on-screen information table.
• Simplified Dashboard: Switches the table to a more compact view.
• Match Dashboard Color to Box Color: Synchronizes the table cell colors with the plotted box colors.

Box Colors

• Bullish Color: Sets the background color for bullish DTCC boxes.
• Bearish Color: Sets the background color for bearish DTCC boxes.

Border Colors

• Bullish Border Color: Defines the border color for bullish boxes.
• Bearish Border Color: Defines the border color for bearish boxes.

Box Text

• Bullish/Bearish Text: Customizes the labels appearing above the boxes.

Text Colors

• Match Box Color?: Determines if the label text should inherit the box color or use a custom selection.

FAQ

How do I interpret the indicator if both boxes are the same color?

If both boxes are green or both are red, the DTCC method suggests there is no clear bias for that day, and the tool should not be relied upon for session direction.

What timeframe should I use with this script?

This indicator is specifically built for the 5-minute timeframe. Using it on other timeframes may result in inaccurate box placements or calculation errors.

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.