The indicator can be divided into two separate stuff:
ONS (Overnight Session) based on TCM’s (TheCurrencyMerchant) theory and Silver Bullet based on what ICT (InnerCircleTrader) is teaching to us.
• ONS will be always based on Chicago 4am to 8am time according to TCM’s CME teaching.
The indicator has the option to show TSO (Today’s session only) which is good to have the chart not messed up by it. At this time when it comes to backtesting just turn this off to have the past ONS and SB ranges showed up on your chart.
• Mid line at the ONS range is useful to have as you are able to decide wether price is in a premium or a discount under the ONS.
If Im a buyer target is above the range, if Im a seller target is below the range.
• You are also able to have SD (Standard Deviation) lines for price projections. In the variety of TCM’s videos you are able to have a deeper knowledge.
• You can also extend Today’s ONS lines to the very end of the chart which could make an easier looking on the levels you eyeing with.
It’s based on New York time as ICT (Inner Circle Trader) is always teaching to us that we should use New York time, every time when it comes to his concepts.
Silver Bullets are always be there aiming of an opposing liquidity pool. They are working even on choppy days.
Silver Bullet hours:
• 03:00 - 04:00am NY Time
• 10:00 - 11:00am NY Time
• 02:00 - 03:00pm NY Time
SB highlighted areas could be shown as a box or a range according to your taste, with or without Start/End lines.
Both of them ca be used to form trades.
You should dig yourself into Silver Bullet (InnerCircleTrader) and Overnight Session (TheCurrencyMerchant) teachings before the use of the indicator.
• Silver Bullet
Look 20-30 minutes before any SB where the Buy or Sell program has started. Where the first 1m FVG (Fair Value Gap) appears under the range, enter the trade.
Expect only a 5 handle move as a beginner. 1m chart is a must for these kind of FVG entries. (30s , 15s can also be used)
Price is trading aggressively out of the range to take liquidity.
Once price grabbed liquidity that candle on the 3-5m could considered as on order block for the further movement.
If you are trading in the range, then the opposite side can be the target, if its out of the range and trading one sided, then use standard deviations as 0.5 is a minimum target.
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