ICT Immediate Rebalance
Apr 30, 2024
The ICT Immediate Rebalance aims at detecting and highlighting immediate rebalances, a concept taught by Inner Circle Trader. The ICT Immediate Rebalance, although frequently overlooked, emerges as one of ICT's most influential concepts, particularly when considered within a specific context.
USAGE
Immediate rebalances, a concept taught by ICT, hold significant importance in decision-making. To comprehend the concept of immediate rebalance, it's essential to grasp the notion of the fair value gap. A fair value gap arises from market inefficiencies or imbalances, whereas an immediate rebalance leaves no gap, no inefficiencies, or no imbalances that the price would need to return to.
Following an immediate rebalance, the typical expectation is for two extension candles to ensue; failing this, the immediate rebalance is deemed unsuccessful. It's important to note that both failed and successful immediate rebalances hold significance in trading when analyzed within a contextual framework.
Immediate rebalances can manifest across various locations and timeframes. It's recommended to analyze them in conjunction with other ICT tools or technical indicators to gain a more comprehensive understanding of market dynamics.
Multi Timeframe
The script facilitates multi-timeframe analysis, enabling users to display immediate rebalances from higher timeframes.
Enabling the display of higher timeframe candles helps visualize the detected immediate rebalance patterns.
Dashboard
The dashboard offers statistical insights into immediate rebalances.
SETTINGS
Immediate Rebalances
- Timeframe: this option is to identify immediate rebalances from higher timeframes. If a timeframe lower than the chart's timeframe is selected, calculations will be based on the chart's timeframe.
- Bullish, and Bearish Immediate Rebalances: color customization options.
- Wicks 75%, %50, and %25: color customization options of the wick price levels for the detected immediate rebalances.
- Immediate Rebalance Candles: toggles the visualization of higher timeframe candles where immediate rebalance is detected.
- Confirmation (Bars): specifies the number of bars required to confirm the validation of the detected immediate rebalance.
- Immediate Rebalance Icon: allows customization of the size of the icon used to represent the immediate rebalance.
Dashboard
- Dashboard: toggles the visualization of the dashboard, sets its location, and customizes the size of the dashboard.
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