Daily Automatic OTE (FX4LIVING)

٢٣ نوفمبر ٢٠٢٣

Description:
The Daily Automatic OTE is the Free version of the Automatic OTE (FX4_LIVING) [Pro+]. Unlock the Daily OTE with this advanced indicator, simplifying the intricate world of Daily Fibonacci retracements.

In collaboration with FX4_LIVING, key levels are thoughtfully grouped for enhanced ease and organization. These include the High, Low, Equilibrium (EQ), and the Optimal Trade Entry (OTE).

Optimal Trade Entry is a concept taught by the Inner Circle Trader utilizing fibonacci retracements to gauge when price is considered in Premium or Discount. When price reaches 62% retracement of the anchored swings, price enters an area considered for an optimal trade entry.

This said, these levels can act as much more than a simple retracement tool, showing continuous levels that price refers back to based on Premium and Discount prices of the previous interval.

NQ1! Price trading from Premium to Discount, landing at OTE at the end of the Day:


... another NQ1! example, the following Day:


This tool provides with default levels aligned to FX4_LIVING's Trading Models. The integrated data table offers a distilled view of price action, enabling easy tracking where price is trading compared to the previous Day in percentage – where the High and the Low represent Previous Daily High and Previous Daily Low interchangeably. This feature allows you to quickly know where price is, even if you decide to hide the Fibonacci Levels.


Key Features:

• Versatility Across Assets: Daily Automatic OTE is meticulously designed for futures, forex, and bond markets, offering a comprehensive solution for a wide range of financial instruments.
  
• Adaptive Table Colors: witness the data table adapt its colors when price approaches OTE levels, aligning seamlessly with Fibonacci levels.
  

Other Features:

• Customize Fibonacci and Key Level Line Style.
  
• Personalize Fibonacci and Key Level Line Color.
  
• Adjust Fibonacci and Key Level Line Width.
  
• Tailor Table Size and Location.
  

Usage Guidance:

1. Add Daily Automatic OTE to your Tradingview chart.
   
2. Observe where and when Fibonacci Levels are traded. Leverage this invaluable information to shape your narrative, whether you choose to explore internal range liquidity or capitalize on post-purge reversals.
   
3. Customize your desired Timeframe and Fibonacci Levels according to your preferences.
   

These tools are available ONLY on the TradingView platform.