ICT IRL & ERL Zones

6月24日

ICT IRL & ERL Zones
This indicator visualizes Internal Range Liquidity (IRL) and External Range Liquidity (ERL) levels, based on ICT (Inner Circle Trader) concepts. It's designed to help traders identify key liquidity zones that often act as magnet levels or reversal points in price action.

🔍 How It Works
Lookback Range: The script analyzes the highest high and lowest low over a user-defined number of candles (default: 50).

IRL (Internal Range Liquidity):

Plots the highest high and lowest low within the lookback period.

Represented as orange lines and a shaded zone.

ERL (External Range Liquidity):

Extends the IRL boundaries by a small buffer (50 ticks above/below).

Visualizes zones where price may reach for liquidity beyond the current range.

Plotted as a green (high) and red (low) line.

⚙️ Inputs
Lookback Range: Number of candles to calculate the range (min 5).

Show IRL: Toggle visibility for Internal Range Liquidity zone.

Show ERL: Toggle visibility for External Range Liquidity buffer zone.

📊 Visual Elements
IRL High/Low: Orange lines with fill to mark the main liquidity range.

ERL High/Low: Green and red lines indicating potential liquidity sweep zones.

Zone Fill: Light orange shading to visually emphasize the IRL area.

📈 Use Case
Use this tool to:

Identify areas where price might consolidate or reverse.

Highlight likely zones of liquidity grabs before trend continuations or shifts.

Enhance entry/exit decisions based on smart money concepts.

6 天前

發行說明

This TradingView script titled "ICT IRL & ERL Zones" is designed to help traders identify liquidity zones based on the Internal Range Liquidity (IRL) and External Range Liquidity (ERL) concepts inspired by ICT (Inner Circle Trader) methodology. Here's how a trader can use it:

🔍 1. What it does:
Looks back a user-defined number of bars (lookback, default 50).

Finds the highest high and lowest low in that range.

Plots the IRL (Internal Range Liquidity): This represents liquidity resting within the recent trading range.

Plots the ERL (External Range Liquidity): These are levels slightly beyond the recent range, where breakout traders or stop orders may rest.

📊 Visual Outputs:
Level Color Purpose
IRL High Orange Highest high in lookback period (range top)
IRL Low Orange Lowest low in lookback period (range bottom)
ERL High Green Just above IRL high (external stops)
ERL Low Red Just below IRL low (external stops)
IRL Fill Orange Transparent Highlights internal liquidity zone

📈 How a trader can use it:
✅ 1. Liquidity Grab Detection
IRL zone is often where price consolidates. When price spikes above ERL and returns quickly, it may signal a liquidity grab or stop hunt.

Entry logic: If price wicks above ERL High or below ERL Low and closes back inside IRL → potential reversal zone.

✅ 2. Targeting Liquidity
Traders can target ERL zones for exits.

For example: If in a long trade, set TP near ERL High.

✅ 3. Trade Avoidance / Traps
If price is inside IRL, it may indicate range-bound consolidation—avoid entering trend trades until breakout.

Watch for false breakouts beyond ERL that snap back into IRL.

✅ 4. Confluence with Other ICT Concepts
Combine with FVGs, order blocks, PD arrays, or time-based sessions for higher probability setups.

For example: A liquidity grab into ERL that aligns with an OB or FVG + SMT divergence may offer a high RR entry.

⚙️ Customization tips:
Adjust the lookback range depending on the timeframe:

50 for 1H/4H

20–30 for 15M/5M

Modify the buffer (default syminfo.mintick * 50) to be more aggressive or conservative in defining ERLs.

🔚 Summary
This script helps traders:

Visualize where liquidity is likely pooled.

Spot potential stop hunts or reversals.

Determine better trade entry/exit zones.

Stay out of choppy consolidation.

Used in combination with price action and time-based ICT concepts, it’s a great support tool for both intraday and swing traders. Let me know if you'd like a version that includes alerts, breakout signals, or session overlays.