Automatic OTE [Pro+] (FX4LIVING)

Unlock the precision of your trading endeavors with our cutting-edge Automatic OTE Fibonacci Tool. This advanced indicator not only simplifies the intricate world of Fibonacci retracements but also introduces a unique time-based anchoring feature.

Automatic OTE (FX4LIVING) [Pro+]

Concept Introduction & Indicator Features

Unlock the precision of your trading endeavors with our cutting-edge Automatic OTE Fibonacci Tool. This advanced indicator not only simplifies the intricate world of Fibonacci retracements but also introduces a unique time-based anchoring feature.

Thanks to the Timeframe feature, analysts can anchor Fibonacci High and Low values to any selected timeframe. While many find Monthly, Weekly, Daily, 4H, and 1H ranges effective, our tool offers unparalleled flexibility, allowing custom Tradingview times for 90-minute candle ranges and other bespoke intervals.

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.

Indicator Features

  • Versatility Across Assets: Auto OTE Pro+ is meticulously designed for futures, forex, and bond markets, offering a comprehensive solution for a wide range of financial instruments.

  • Timeframe Customization: Auto OTE Pro+ allows users to anchor timeframes, providing analysts with the flexibility to explore various ranges.

  • Adaptive Table Colors: witness the data table adapt its colors when price approaches OTE levels, aligning seamlessly with Fibonacci levels.

  • 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.

15s Chart + 15m Automatic OTE:

5m Chart + 4H Automatic OTE:

This tool provides analysts the flexibility to input various Fibonacci Levels, with default settings 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 selected interval in percentage – where the High and the Low represent 0% and 100% interchangeably. This feature allows you to quickly know where price is, even if you decide to hide the Fibonacci Levels.

Timeframe Selection

This tool allows the analyst to select their timeframe in which the OTE indicator will anchor from. Choose your Time Frame from your typical times of 1 Day, 4 Hour, 1 Hour, 15m. If an analyst selects the 1 Day Chart, the Auto OTE will anchor from the previous day high and low from the daily candle.

The timeframe selection tool allows all different type of analysts/traders to use the tool. Whether you are an intraday trader, a scalper or even a swing trader or position trader. With this function a lot of time is saved determining the correct premium/discount end of the range.

Time Anchors

In the tool settings, the analyst can toggle Time anchors which begin plotting at the end of the previous candle close, and stop plotting at the selected time frame’s close. This allows the analyst to encapsulate the time opportunity, just as our London Protraction tool does for London Open.

Key Levels

Key Level Toggling

Our tools are aimed to help traders save time and be more optimized for their processes. Having this indicator in collaboration with FX4_Living, these levels are crucially defined as per his model.

OTE is coded to be a .62 retracement level of the previous candle selected.

Key levels as with the remaining OTE values, can be customized using the style toggles and width adjustments. This allows the analyst to differentiate levels through color as well as style.

Analyst Insights: The OTE is an important tool for analysts to make use of Premium and Discount pricing. Ideally long entries should be taken in discount prices, and shorts from premium prices. The OTE helps identifying deep premium and deep discount price areas relative to the selected timeframe. Combine the OTE area with PD Arrays in order to enhance the probability. The time of day is also an important factor, for example when trading intra-week. Analysts can pair the OTE entries with the right time of day to enter positions → Killzones

Fibonacci Levels

Line Stylization

Analysts can choose between the stylization options for the fibonacci levels. Next to the line style, you will see a cell for the line width.

1 would be the least width of a line, making higher values create thicker lines

Analyst Insights: Adjust the color and style (Solid, Dotted) to best match your chart's layout and preferences.

Fibonacci Levels

The standard Fibonacci Levels on this tool were created in collaboration with @FX4_Living and are used in lots of his personal models. The levels defined are standard settings but analysts can toggle specific levels they like or input their own values.

Automatic OTE Table

With all of the Toodegrees Tools, we aim to provide a statistical edge to the analyst as well as visual aids.

The OTE Table presents the current price % in relation to the selected OTE. You can also notice adaptive coloring enabled meaning the color of the % will correspond to the color of the nearby levels. These colors and values change real time based on candle movement.

Table Customization

Easily choose your desired place of the table on your charts. Some prefer the table to be in the bottom right, or top center. Select through the available options and find what suits your style!

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