ICSM (Impulse-Correction & SCOB Mapper) [WinWorld]

18 juil.

DESCRIPTION

ICSM (Impulse-Correction SCOB Mapper) is the indicator that analyzes the price movement and identifies valid impulses, corrections and SCOBs. It is a powerful tool that can be used with any type of technical analysis because it's flexible, informative, easy to use and it does substantially improve trader's awareness of the most liquid zones of interest.



SETTINGS

General | Visuals

• Colour theme — defines the colour theme of the ICSM.
  

SCOB | Visuals

• Show SCOB — enables/disables SCOB;
  
• Mark SCOB with — represents a list of style options for SCOB representation;
  
• SCOB colour — defines the colour of the SCOB;
  

ICM | Visuals

• Show ICM lines — enables/disables ICM (Impulse-Correction Mapper) lines;
  
• Show IC trend — enables/disables visualization of impulse-correction trend via coloured divider at the bottom of the chart;
  
• Line colour — defines the colour of the ICM lines;
  
• Line style — defines the style of the ICM lines;
  

Alerts

• ICM — enables/disables alert for breaking ICM lines;
  
• SCOB — enables/disables alert for SCOB creation;
  
• ICM+SCOB — enables/disables alert for SCOB occurance at the end of the single impulse/correction, which grabs ICM line's liquidity.
  
• ICM+SCOB (same candle) — enables/disables alert for SCOB occurance at the candle, which grabs ICM line's liquidity.
  

IMPORTANT CONCEPTS

In order to fully understand what ICSM can do, let's do a quick overview of the most important concepts that this indicator is built on.




By ICM we mean the liquidity grabbing of Impulse-Correction Mapper's lines (ICM lines; represented as dashed horizontal lines on the chart). Saying shortly, liquidity grabs of ICM lines posses great opportunities for finding great entries.




SCOB (Single Candle Order Block) builds up by 3 simple rules:

1. Previous candle's liquidity is grabbed;
   
2. Current candle closes inside previous candle;
   
3. Imbalance occurs on the next candle.
   

SCOB is a quite useful zone of interest, from which the price usually reverses. You can also use SCOB as POI* on HTF** or as entry zone on LTF***.
* POI — Point Of Interest
* HTF — Higher TimeFrame
* LTF — Lower TimeFrame




"ICM+SCOB" is a short name that we use for event, at which price first grabs the liquidity from ICM line and then creates a SCOB at the same impulse/correction movement (on the same ICM line, that does the liquidity grab). Usually the SCOB that occurs after this event represents a highly liquid zone of interest, which should be considered when choosing entry level.




"ICM+SCOB (same candle)" is basically the same as "ICM+SCOB" event but with one major difference — the candle, which grabs the liquidity of ICM line, is also the candle at which the SCOB occurs, making such SCOB an even better zone of interest than a regular SCOB from ICM+SCOB event.



BIGGEST ADVANTAGES

1. ICSM precisely identifies impulses and corrections. Huge load of indicators on the TradingView does only show the simplest zones of interests, while ICSM uses our team's signature algorithms to precisely identify true impulses and corrections in the market, allowing traders to see both local and global price direction better and at the same time providing traders with the most liquid zones of interest;
   
   
2. ICSM shows points of interest and liquidity. The indicator identifies the nearest points of interest and zones, where the liquidity is concentrated, allowing you to find great entry and exit points for your trades;
   
   
3. ICSM has SCOB (Single Candle Order Block) detection function. ICM is packed with the extremely useful in SMC trading SCOB detetction feature, which allows you find even more solid points of interest;
   
   
4. ICSM has super minimalistic design, which contains only the things you really need. Your chart will not be overloaded with unnecessary information. You will only see clear points of interest, liquidity and price movement.
   

WHY SHOULD YOU USE IT?

As was said above, ICSM allows you to see the most profitable points and zones of interest, which professional SMC traders consider as one of the best in the market, because they are historically the areas from which the price bounces the most, allowing the smartest traders to get quick an clean profits with low drawdown.

In the ICSM indicator these zones are SCOB and ICM line liquidity grabs. By using these zones of interest to find entry points, you increase the chance to open a trade at the most lucrative price and reduce trading risks.

Considering what was said above, this indicator can help traders reduce drawdown risks and increase potential profits simply by showing the most liquid zones of interest, which are perfect for opening a trading position.


Here are some of the examples of how you leverage ICSM in your trading process:



Example of the short trade:

Price shows overall short trend. Trend liquidity is being formed.

Price grabs liduiqity from three ICM lines in a row and then creates a long SCOB at the end of 3rd liquidity grab.

SCOB, which occured at the end of ICM line, represents much stronger zone of interest than a regular SCOB. In this case it represents a zone, which we will use to find an entry.

The entry for the trade will be SCOB candle's low, stop-loss target should be put above SCOB candle's high. Our take-profit target is trend liquidity. See the screenshot above for better understanding.


▼ Now let's see the long trade example. ▼




Example of the long trade:

Price creates trend liquidity by showing equal highs (EQH).

Price grabs liduiqity from four ICM lines in a row and then creates a long SCOB at the end of 4th liquidity grab.

Again: SCOB, which occured at the end of ICM line, represents much stronger zone of interest than a regular SCOB. In this case it represents a zone, which we will use to find an entry.

The entry for the trade will be SCOB candle's high, stop-loss target should be put below SCOB candle's low. Our take-profit target is EQH. See the screenshot above for better understanding.



[B]ALERTS

ICSM provides simple and easy alert customization, allwoing to choose only the alerts you want to receive. You can choose from the following alert options:

• ICM — impulse or correction liquidity grab;
  
• SCOB — SCOB is formed, wether or not the liquidity is grabbed from the impulse or correction;
  
• SCOB+ICM — SCOB is formed after grabbing the liquidity of the ICM line;
  
• SCOB+ICM (same candle) — SCOB is formed in the liquidity area of the impulse or correction.
  

HOW CAN I GET THE MOST OUT OF IT?

ICSM displays only the first liquidity of an impulse or correction, which matches the IDM (Inducement) in the Advanced SMC strategy. This strategy is completely covered in the World Class SMC indicator and is available for free for PDF in three parts.

You can also ICSM with any other strategy, because ICSM is a very flexible indicator and will help anyone improve their trading by making one aware of the high-quality liquidity on the chart.

Let's see how you can leverage ICSM with our World Class SMC indicator and other different strategies:



Example of the long & short trades with World Class SMC.

Long (1-3):

1. Price reached previous OB-EXT. This is the first sign for the potential price reversal;
   
2. ICM+SCOB happened after price reached OB-EXT;
   
3. After that, you can need to look for an entry on LTF. If you don't know how to do it, you can refer to our education materials.

Short (4-6):

1. Price reached OB-IDM, which is also a great sign for a potential upcoming price reversal;
   
2. ICM+SCOB occured after liquidity grab of the previous SCOB. This fact does strengthen the probability of the potential upcoming price reversal;
   
3. Now you need to switch to LTF and find an entry there.
   

Example of the short trade with simple Fibonacci retracement strategy.

1. Price grabs the liquidity of the ICM lines three times in a row, forming SCOB after the 3rd grab;
   
2. Price performs correctional move down without testing the SCOB, leaving no entry opportunity by our initial strategy, so we can add another strategy — Fibonacci retracement from 0.618 level — to our analysis in order to find an entry;
   
3. We use Fibonacci grid with our initial strategy to find the best POI, that will align with the trend direction and will eventually become our entry point.
   

SUMMARY

ICSM is a unique indicator that indentifies zones and points of interests with high-quiality liquidity and can be both a stand-alone tool and can be integrated into any other strategy to increase the efficiency of analysis, accuracy of trading entries and reduce trading risks.

If you want to learn the SMC strategies that our team uses in our products, you can refer to our educational materials.

We hope that you will find a great use of ICSM and it will help you improve your perfomance as a trader. Best of luck, traders!

— with love, WinWorld Team

20 juil.

Notes de version

+ Style' section update.

25 juil.

Notes de version

+ Fixed SCOB mapping: now it appears right when IMB candle closes, which means faster SCOB identification.

25 juil.

Notes de version

+ SCOB styles remastered;
+ Added IC Trend representation.

il y a 6 jours

Notes de version

+ Added option to toggle impulse-correction lines: 'Show impulse-correction lines' in 'ICM | Visuals'.