OPEN-SOURCE SCRIPT
SMC ICT – Simplified Daily Trend & Reversal Analyzer
This Pine Script provides a simplified approach to analyzing daily trends and potential reversals using concepts inspired by Smart Money Concepts (SMC) and ICT (Inner Circle Trader).
What It Does:
• Detects daily uptrend and downtrend conditions by comparing the current daily high/low to the previous day’s values.
• Highlights potential bullish or bearish reversal zones when price behavior suggests a shift in sentiment.
• Automatically draws dashed lines for the previous day's high and low.
• Labels these high/low levels for quick visual reference.
How to Use:
Apply this indicator to any timeframe chart. Use the plotted trend markers to assess daily direction and potential reversal signals. The dashed lines (previous high/low) can be used as reference points for liquidity zones or break/retest entries.
User Interface:
The indicator displays labels and shapes in English. This script is intended for educational and trading workflow enhancement purposes.
Note:
This is an open-source tool designed for clarity and basic SMC/ICT application. It is best used in combination with other confluences like FVGs, order blocks, and liquidity sweeps.
What It Does:
• Detects daily uptrend and downtrend conditions by comparing the current daily high/low to the previous day’s values.
• Highlights potential bullish or bearish reversal zones when price behavior suggests a shift in sentiment.
• Automatically draws dashed lines for the previous day's high and low.
• Labels these high/low levels for quick visual reference.
How to Use:
Apply this indicator to any timeframe chart. Use the plotted trend markers to assess daily direction and potential reversal signals. The dashed lines (previous high/low) can be used as reference points for liquidity zones or break/retest entries.
User Interface:
The indicator displays labels and shapes in English. This script is intended for educational and trading workflow enhancement purposes.
Note:
This is an open-source tool designed for clarity and basic SMC/ICT application. It is best used in combination with other confluences like FVGs, order blocks, and liquidity sweeps.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.