CISD with Alerts [neo|]█ OVERVIEW
CISD (or Change in State of Delivery) is an ICT concept and reversal pattern which may allow traders to identify reversals or changes in market structure early, compared to using traditional market structure. This script aims to correctly identify, and update these levels and provide alerts, so that traders can take advantage of this concept with ease.
█ CONCEPTS
Simply put, CISD may be identified when price closes above the open of the candle which started the most recent downtrend or liquidity sweep. Generally, it is most powerful when applied to key points in the market as a confirmation from where you may want price to reverse.
For example, when price is in a downtrend, we take the open of the last consecutive downwards candle and observe the CISD once price closes above it, beginning an uptrend.
Examples:
COMEX:GC1!
CME_MINI:NQ1!
█ How to use
To use the indicator, simply apply it to your chart and modify any of your desired inputs.
• Bullish CISD color allows you to change the color of +CISD levels.
• Bearish CISD color allows you to change the color of -CISD levels.
• Line width allows you to modify the width of +-CISD lines.
• Line extension bars allows you to change how far ahead CISD levels are drawn (by default it is 5).
• Keep old CISD levels will allow you to preserve all past CISD levels if you would like to observe the logic.
• Enable stat table will let you add a table on your chart which will tell you the current CISD trend, as well as your ticker and timeframe.
• Table position allows you to customize where the table will appear on your chart.
