How To Find Daily Bias Without Using Higher Time Frame with 88% probability! (For Dummies) ⤵️
Disclaimer: This is not my work, credits to @IamMas7er
So I'll explain this in a very simple way!
So I'll explain this in a very simple way!
There is something called an IDR range which can be found from 9:30am - 10:30am EST. This range can help us determine if the low of the day is set or high of day.
Add this indicator to your tradingview chart
tradingview.com
Add this indicator to your tradingview chart
tradingview.com
![TheMas7er scalp (US equity) 5min [promuckaj] — Indicator by promuckaj](https://pbs.twimg.com/news_img/1639153169828655104/lcQ60JBE?format=png&name=orig)
We will want to be using the 5m chart for this. So we can see the IDR high and the IDR low that is drawn automatically from the indicator. If we get a candle closure above IDR high, there's an 88% chance the low of day is set and we can hunt buy setups. Vice versa for IDR low.
Now that we know this, how can we use this information to find setups, well a personal way I find good to trade these is using SMT divergences to hunt setups.
Here's a thread I've created if you don't understand what SMT is!
Here's a thread I've created if you don't understand what SMT is!
So since price closed above IDR high, we are hunting bullish setups, we can see an SMT divergence with ES and NQ. We find ourselves a FVG on NQ with break of structure and target buyside liquidity which nets us 3R on this trade
To learn this concept more in-depth, check out the video the creator of this concept made!
youtube.com
youtube.com
I hope you enjoyed this and all I ask is for a follow back, let me know if there are other videos you guys want me to make a thread on, this is a good way for smaller creators to receive the initial attention to kickstart their following!
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