How it is calculated
The leg as in fib_retracement. The zone's edges are end minus 0.62 times (end minus start) and end minus 0.79 times (end minus start); top is the higher, bottom the lower. inside is 1 when the close is between them, edges included. leg is +1 for an up leg, -1 for a down leg.
Reference: ICT market structure, from public descriptions (#546)
How to read it
In an up leg the zone sits in the lower part of the leg, a place to buy; in a down leg in the upper part, a place to sell. It moves when a new swing is confirmed, length bars after its extreme; nothing shows before the first swing high and low.
In a strategy
Buy inside the zone of an up leg: when z = ctx.ind("ote", length=3) has z.leg of 1 and z.inside of 1, go long with the stop below the leg's low.
Inputs
| Input | Type | Default | Range or choices |
|---|---|---|---|
Swing bars each sidelength | Whole number | 3 | min 1, max 50 |
What it draws
| Line | Drawn as |
|---|---|
| OTE top | Steps |
| OTE bottom | Steps |
Used in
No strategy template reads it yet.