This script automatically calculates and updates ICT's daily IPDA look back time intervals and their respective discount / equilibrium / premium, so you don't have to :)
IPDA stands for Interbank Price Delivery Algorithm. Said algorithm appears to be referencing the past 20, 40, and 60 days intervals as points of reference to define ranges and related PD arrays.
Intraday traders can find most value in the 20 Day Look Back box, by observing imbalances and points of interest.
Longer term traders can reference the 40 and 60 Day Look Back boxes for a clear indication of current market conditions.
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v0.0 - Chart update.
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v0.1 - Added different ways of displaying the location of price inside the IPDA ranges: > 'Boxes' shows the proper IPDA ranges, plotting boxes on the chart; > 'Table A' shows whether price is in Discount of Premium for each of the IPDA ranges; > 'Table B' shows the distance from Equilibrium in percentage or each of the IPDA ranges.
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v0.2 - 'Table B' shows the location of price in percentage for each of the IPDA ranges, where 0% is deep Discount and 100% is high Premium.
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- Bug Fix: boxes were displaying on lower timeframes. Restricted to 1D chart.
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Bug Fix: IPDA Low and High was not checking the 20th, 40th and 60th candle. Cosmetics: Added a Line for Equilibrium instead of using the boxes for better visualization and customization.
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Major Features Added: – Plot Daily IPDA Data Ranges on any LTF
Congrats on this gems. However, the lookback period starts from “yesterday”/ the previous trading day, therefore it shouldn’t include the current trading day. We always start counting from the previous day before the new daily candle open and never include the current one. Ask any ICT student who was part of the 2016/17 private mentorship. If you can fix that it’d be of great help. Thanks! @toodegrees
toodegrees
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@FALLFX, You are absolutely right – if you count the candles, it does start from yesterday! The box plots from the current day as well but it is just for looks. I will make an update to this tool soon, might throw that change in there to make it clearer. Thank you for the feedback!
FALLFX
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@toodegrees, yep, if you can fix that it would help to avoid confusion. Thanks again!
I have just finished the ICT mentorship where he teaches this technique, we are supposed to anchor a vertical line on the 1st day of previous month. Your indicator starts from current candle, in settings I could not find anything to start the lookback from the 1st of the month.
toodegrees
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@Beto_Gauer, This tool is meant to depict the current IPDA Data Range Look Back. What you are referring to is a different way of using IPDA Data Ranges, which is achievable using this other tool of mine made ad-hoc for anchoring IPDA to Time: tradingview.com/script/EtMveTYm-ICT-Anchored-IPDA-Ranges/
c2F2aW9y
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love the indicator, could you add 25% and 75% levels? i think it would be a great addition! or is there a way i could do it automatically manually?
Chrisdsgb
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Amazing indicator broskii. The only problem is IPDA runs off of "Trading Days" not calender days. So the 20, 40 , 60 day look back includes the weekends. Thus not involving the algorithms calculations, is there any way to adjust? Please and thank you for your time
toodegrees
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@Chrisdsgb, It depends on the market you are looking at. Futures and FX are closed over the weekend, hence the 20-40-60 previous candles on a daily chart are trading days only. If you are looking at crypto, then yes weekends are in the count – but the markets are open, and I assumed IPDA would be active too. No teachings there from ICT, so I filled in the blanks. Let me know if this was helpful!
TRSTNGLRD
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Gorgeous script. Is there a way to make the outer borders transparent? It will make it a bit more clean to interpret - amazing script regardless!