ICT-OTR+SD (Opening-Time-Ranges + Standard Deviations)
1. Overview
This indicator is a comprehensive tool designed to automate and perfect the ICT concept of Standard Deviations Projections from Sessions Opening Ranges. By establishing specific initial trading ranges based on customized time windows, it intelligently projects standard deviation multiples to pinpoint high-probability liquidity pools, algorithmic targets, and structural support or resistance zones. It bridges the gap between complex time-and-price theories and practical, on-chart execution.
2. Logic
The core logic centers around capturing the precise high and low bounds of a user-defined session (such as the Market Open, Asia, London, or NY sessions). Once this Opening Range is established, the script treats its total height as the "base unit." It then algorithmically calculates outward extensions using standard deviation multiples (1, 1.5, 2, 2.5, etc.) and fractional subdivisions (1/2, 1/4, 1/8). As the live trading day unfolds, these mapped standard deviation extensions serve as predefined boundaries where price action is highly likely to gravitate, consolidate, or reverse based on the initial volatility injected into the market during the opening window.
3. Settings & Options
3.1 Master-Control User Interface The settings panel is engineered for maximum clarity. It utilizes a master-dependent "gray-out" UI system. When you activate or deactivate a master switch, all related sub-settings dynamically enable or disable. This keeps the configuration menu pristine, preventing chart clutter and user confusion.
3.2 OC-TR (On-Chart Time-Range) For total flexibility, the OC-TR serves as an interactive master switch that overrides all pre-set sessions, allowing you to establish custom ranges seamlessly. To use the On-Chart "Click-To-Click" feature:
Right-click the indicator lines, labels, or the Indicator Legend (3 Dots Menu).
Click "Reset Points..." to activate the interactive mode.
Click directly on your chart to visually drop your Start and End points, instantly setting your custom Time Range boundaries.
3.3 Session Configs & Dual Ranges Choose from a rich list of standard pre-configured sessions (London, NY AM, NY PM, Midnight, etc.) or set your own. You also have the "TR from Candle Bodies" toggle. This determines how boundaries are measured:
Unchecked (Default): Uses the absolute Highest and Lowest Wicks of the defined time-range.
Checked: Measures strictly from the Highest Body (Open or Close) and Lowest Body within the time-range.
3.4 E-MRF (Equidistant Minimum Range Filter) The E-MRF is an essential technical setting developed specifically to handle TradingView limits and maintain a pristine chart. When a session's Opening Range is extremely narrow, traditional SD indicators flood the chart with overlapping, unreadable lines. The E-MRF solves this by intelligently calculating the physical point distance between projected levels. If the distance drops below your defined "Min Equidistance" value, the script intelligently hides the densest lines first (1/8 Octants). If it remains too tight, it sequentially hides 1/4 Quadrants, and then 1/2 lines. It literally makes the ICT concept of Standard Deviations Projections practically work on any chart, resolving the issue of having "too many" or "not enough" lines.
3.5 Auto-SD vs Manual SD
Auto-SD (Default): Dynamically and infinitely projects SD levels outward in real-time. As price approaches or breaches current extremes, the indicator seamlessly generates the next standard deviation tiers, keeping the chart relevant to live price action.
Manual SD: If you prefer fixed levels, unchecking Auto-SD plots a static, immediate number of standard deviation levels based on your input value.
3.6 Extend Lines Presets To accommodate different trading styles, the script offers a rich choice of line extension pre-sets. You can project your ranges using options like "Session + 1/2hr", "Session + 4hr", "To End of RTH Session", "To End of ETH Session", "Up to the Next Session", or dynamically pin them to the "Present" live candle.
3.7 Interactive Hover Tooltips Reading complex chart data is made effortless. Hovering your mouse over any indicator label reveals a comprehensive tooltip. You can customize the tooltip to display the Indicator Name, Session Name, precise Session Times, Range Size, Range Date, and the exact Price/Level formatting (Fractional, Decimal, or Percent), making on-the-fly chart analysis a breeze.
4. Under the Hood: Engineered for Performance
This script was built from the ground up natively in Pine Script version 6. Moving beyond legacy code, it utilizes an Object-Oriented Code (OOC) structure through modern user-defined data types and arrays. This highly efficient architecture ensures that the indicator manages complex historical data arrays and dynamic drawings without causing chart lag.
State-of-the-Art Architecture: Uses v6 custom structures to store session boundaries, lines, and labels neatly in memory, minimizing redundant calculations.
Performant Charting Engine: Drawings are managed intelligently. Historic ranges are dynamically stored and purged according to user limits, ensuring rendering limits are strictly respected while maintaining a lightning-fast UI.
Lower Timeframe Precision: Employs granular data extraction to calculate the truest highest and lowest bounds regardless of the chart timeframe you are currently viewing.