Impulse correction and SCOB mapper WinWorld

DESCRIPTION

ICSM (Impulse-Correction SCOB Mapper) is the indicator that analyzes the price movement and identifies valid impulses, corrections and SCOBs (Single Canndle Ordere Block). 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:

Previous candle's liquidity is grabbed;

Current candle closes inside previous candle;

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

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;

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;

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;

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.

[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;

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.

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