ICT Asian Range Indicator for MT4

ICT Asian Range Indicator

I great tool for trading ICT strategy based on Asian Session. Great trend reversal and breakout detector.

DownloadSize: 3.60 KBType: .zip

Downloads: 10.5k

Updated: 26.12.2024

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You have probably heard about the ICT trading strategy. Well, the strategy involves trading based on the Asian session. Ideally, the forex market tends to consolidate during the Asian market before experiencing volatile price movement driving the London and the New York sessions. Therefore, trading using the ICT strategy requires a thorough understanding of the market behavior during the four trading sessions. However, if you are not versed with the strategy, do not worry. We have the ICT Asian Range indicator for MT4- free download. It helps trade the Asian session’s breakouts. The indicator draws colored boxes, which help investors trade the breakout either to the downside or the upside. You only need to enter the trade when the price breaks away from the box.

The ICT Asian Range indicator works best on shorter time frames such as 1-hour time, 15 minutes, and 5 minutes. You can use the indicator to trade currency pairs with the Japanese yen. Specifically, the indicator works best for USD/JPY, EUR/JPY, GBP/JPY, GBP/USD, and EUR/USD. Essentially, the indicator will appeal most to breakout trading.

The ICT Asian Range indicator is suitable for novice trade. You don’t have to memorize when the Asian range forms. You only need to identify the range as drawn by the indicator and place your trade after the price breaks out of the Asian market consolidation.

It is prudent to combine the indicator with other strategies and tools. For instance, you might want to use the ICT Asian Range indicator in combination with a retouch/retest strategy. This means you will enter when the price retests the consolidation phase.

Buy Signal

A bullish signal occurs when the price breaks above the high of the range indicated by the upper line.

Sell Signal

A bearish signal occurs when the price breaks below the low price of the range.

Trading Example

The picture above shows price movement for the Great Britain pound against the US dollar. The circled area shows price consolidation during the Asian session. The price retested the lows of the ranging market, giving a strong bullish signal. The price plummets after this movement and enters a consolidation phase in the next Asian market.

Conclusion

ICT is one of the trendy trading strategies. It has proved quite profitable and successful. However, some people do not understand what ICT entails or how to use it. The ICT Asian Range indicator is a perfect indicator to identify potentially profitable positions based on the ranging Asian market. This means that you will catch great moves on the London and New York sessions. Ultimately, you will boost your trading profits.