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A Balanced Price Range (BPR) is a price formation where the market delivers price upward, then downward (or vice versa),…

A Breakaway Gap is a fair value gap that is left open (unfilled) as price delivers impulsively away from it without reba…

A {direction} breaker block is the most recent swing {high/low} formed between two lows (bullish) / two highs (bearish),…

The Event Horizon (EH) is a price level defined as the midpoint between two NDOG (New Day Opening Gap) or NWOG (New Week…

An Exhaustion Gap is a price gap that occurs after a prolonged trend, representing capitulation — the last burst of mome…

A Fair Value Gap (FVG) is a 3-candle price formation on any timeframe where the middle candle delivers price exclusively…

The First Presentation Fair Value Gap (First Presentation FVG) is the very first fair value gap that forms during the Op…

The HTF PD Array Hierarchy is an ordered framework for identifying and prioritising institutional price reference levels…

The ICT Reaper is a specific PD array defined as a fair value gap (FVG) located in a DISCOUNT position relative to the i…

A Liquidity Void is a range in price delivery where one side of market liquidity is absent, manifesting as wide or long …

The mean threshold is the 50% midpoint of an order block's body range, measured from the open to the close of the order …

A mitigation block is the last {direction}-opposing candle (last down candle in a bearish setup / last up candle in a bu…

The New Day Opening Gap (NDOG) is the price gap formed between the closing price of the previous futures session at 5:00…

The New Week Opening Gap (NWOG) is the price gap formed between the closing price of the previous week's Friday session …

The New York Lunch Algorithmic Reversal is a PD array formed by identifying the inefficiency (FVG) that appears immediat…

The Opening Range Gap (ORG) is the price gap formed between the closing price of the previous Friday's regular trading h…

A {direction} order block is the lowest candle or price bar with a down close (bullish) / highest candle or price bar wi…

Porous price action (also called "patchwork" by ICT) is a region of price delivery where consecutive candle bodies do no…

A {direction} order block (down candle for bullish, up candle for bearish) that has itself traded back into a prior {dir…

An order block formed on the sell side of the market maker curve (the prior swing) that is reused for new entries on the…

A price high or low formed with long wick(s) on one or more candles where price reaches above (bearish) or below (bullis…

The SMC Midnight Opening Range is a three-point reference structure defined on the Electronic Trading Hours (ETH) chart …

The ICT Suspension Block is a single candlestick that has a volume imbalance at BOTH its high end (upper wick/high) AND …

A Vacuum Block is a gap in price created by a volatility event — such as a Non-Farm Payroll release, FOMC announcement, …

A Volume Imbalance is a gap between the bodies (open/close) of two adjacent candles where the wicks bridge the gap betwe…

The 1:30 PM Macro is a time-based algorithmic event that consistently triggers a directional price move starting at 1:30…

The 10-year Treasury note futures price follows a dominant two-phase annual seasonal cycle: a January–February high trad…

The price range established between 8:00 PM and 12:00 AM (midnight) New York time each day. This four-hour window repres…

A defined price range formed between 2:00 PM and 8:00 PM New York time each trading day, representing the late New York …

The Daily Bias Framework is the systematic four-step process ICT uses to determine which direction to trade each day and…

The US Dollar Index and 10-year Treasury note futures prices have a historically inverse (opposing) directional relation…

A structured, top-down analytical cascade that identifies the directional draw of price by moving from the monthly chart…

The time window from 10:00 AM to 12:00 PM (noon) New York time, marking the close of the London trading session. During …

The primary day-trading window for the London session, defined as 1:00 AM to 5:00 AM New York time. This four-hour windo…

The primary day-trading window for the New York session, defined as 7:00 AM to 10:00 AM New York time. This three-hour w…

The interbank 24-hour trading cycle as defined by ICT for day trading purposes. The true day opens at 12:00 AM (midnight…

An ideal seasonal tendency is the highest-probability seasonal window for a given forex pair, identified by comparing th…

Index futures (ES/NQ/YM) have specific high-probability trading windows that are distinct from the Forex killzone times …

Interest rate differentials refer to the difference between the central bank benchmark interest rates of two countries w…

Intermarket analysis is the study of directional relationships between the four major global asset class groups — bonds/…

The transitional period between the London Kill Zone and the New York Kill Zone, from 5:00 AM to 7:00 AM New York time. …

The Market On Close (MOC) Macro is a specific algorithmic price delivery window occurring from 3:45 PM to 4:00 PM Easter…

The Narrative is the trader's understanding of what price should do, why it should do it, and what observable conditions…

The Opening Range is the price distance from the session reference open price to the extreme of the Judas Swing (the ini…

A Premium Market exists when price is trading ABOVE the 50% equilibrium level of a defined range (from a significant swi…

Pseudo-Memory Journaling is a psychological training technique in which the trader annotates a historical chart or a tra…

The Quarterly Shift is a recurring market-structure inflection point that occurs approximately every three to four month…

Risk-On/Risk-Off is the macro bias filter that aligns the US Dollar direction with expected equity index direction for E…

A seasonal tendency is a statistically compiled directional roadmap derived from 15 to 40+ years of historical futures c…

The Seek and Destroy Profile is an intraday or intraweek market condition in which price alternates between taking out s…

A qualifying SMT (Smart Money Technique) divergence between the Dollar Index and the 10-year Treasury note futures price…

A weekly directional bias framework that uses the Sunday opening price (or Monday opening price if the broker does not p…

Time Macros are specific 20-minute (and occasionally other-duration) windows of time during the trading day when the alg…

Treasury futures contract prices and Treasury yields move in opposite (inverse) directions at all times. When the 10-yea…

A taxonomy of ten named market behavioral archetypes that describe how the weekly price range tends to form, depending o…

Algorithmic Price Delivery (APD) is ICT's overarching framework describing how all financial markets — equities, forex, …

A Buy Program is an algorithmic sequence in which the market-making algorithm continuously offers higher prices — it "sp…

A methodology for projecting the daily high (on sell days) or daily low (on buy days) using the Central Bank Dealers Ran…

Institutional Order Flow (IOF), as defined by ICT, is NOT the DOM (depth of market), level-two data, or footprint chart …

A secondary London session intraday price delivery template used when the immediate (normal protraction) profile does no…

The highest-probability London session intraday price delivery template in which IPDA creates an immediate projectionay …

IPDA Data Ranges are the three standardised lookback windows — 20, 40, and 60 trading days — that ICT asserts the Interb…

The Judas Swing is the manipulation leg of the Power of Three (AMD) model — a false, engineered price move opposite to t…

The Market Efficiency Paradigm is ICT's foundational framing of how markets actually operate: not through supply and dem…

A set of detailed intra-week trading blueprints that pair each weekly range profile with a mechanistic explanation of th…

The fundamental three-phase price delivery model that describes how IPDA structures price across any timeframe. The thre…

Standard Deviation Projections are price extension targets derived by anchoring a Fibonacci tool to specific price swing…

Time Distortion occurs when price consolidates within a range on a given timeframe, appearing directionless and untradea…

Calub's Model (named for ICT's son Caleb) is a simplified, rule-based intraday execution framework designed for new or d…

A Close Proximity Entry is a trade entry placed near but not exactly at a fair value gap or order block when ideal timin…

A Consolidation Day setup describes an algorithmic daily price delivery pattern where the market runs buy-side liquidity…

A Counter-Trend Setup signals a high-probability long entry after repeated intraday sweeps of sell-side liquidity have d…

High Frequency Trading (HFT) Algorithmic Entries is ICT's technique for entering trades at extreme precision by scaling …

The ICT Gauntlet is a highly specific fair value gap (FVG) defined by its location within the price-delivery leg of a bu…

The ICT Weekly Option Strategy is a premium-writing approach applied to SPX weekly options (referred to as "SBX" in the …

An order entry method for long-term traders in which a buy limit is placed at the closing price of a confirmed bearish (…

A comprehensive short-term trading procedure that blends macro analysis, higher-timeframe PD array matrix identification…

An order entry method for long-term traders in which a buy stop is placed at the opening price of a closed bearish (down…

Trade conditions and setup progressions describe how institutional price movement unfolds from a discount (buy zone) to …

Turtle Soup is ICT's named setup for fading a breakout above a prior swing high (or below a prior swing low) that fails …

A Dealing Range is a price range defined by a completed two-sided liquidity event: price first takes out buy-side liquid…

Displacement is the forceful, energetic, one-directional price delivery that defines a valid market structure shift and …

An Institutional Swing Point is a price inflection that ICT defines as occurring in exactly one of two forms: a Breaker …

An Intermediate Term High (ITH) is a swing high that forms at the point where an imbalance (fair value gap or liquidity …

A recurring weekly price delivery pattern in which the market forms one extreme of the weekly range (high or low) aggres…

A price move that travels from one PD array to an opposing PD array with minimal friction (low resistance), facilitated …

A Market Structure Shift (MSS) is an intraday event in which price takes out a short-term liquidity level (swing low for…

A Short Term High (STH) is a 3-candle pattern where the middle candle has a higher high than BOTH the candle to its left…

SMT Divergence applied to correlated index futures (ES/S&P 500 vs NQ/NASDAQ) occurs when the two markets diverge at a ke…

External Range Liquidity refers to liquidity (stop orders) residing outside the boundaries of the current defined tradin…

Internal Range Liquidity refers to price delivery and liquidity resting inside the current defined trading range (betwee…

A Liquidity Pool is a collection (pool) of pending stop orders resting above or below price at a recognisable price leve…

Open Float is the total current open interest — pending stop and limit orders — resting above and below market price in …

An Open Float Liquidity Pool is the set of buy-stop and sell-stop clusters identified within a rolling 120-trading-day w…

ICT distinguishes between two distinct liquidity pool types for index futures and forex trading: Pre-Market Session Liqu…

Relative Equal Highs are two or more swing highs at approximately the same price level. Relative Equal Lows are two or m…

A Sweep is a brief price spike above or below a liquidity level (old high, old low, equal highs/lows, buy/sell stop clus…

ICT Silver Bullet is a time-based algorithmic trading model applicable to all asset classes. It defines three specific 6…

The Ma Deuce Model is an ICT trading model built around the Inversion Fair Value Gap (Inversion FVG). The name "Ma Deuce…

The Market Maker Buy/Sell Model (2023) is ICT's comprehensive 2023 exposition of how institutional/algorithmic price del…

The PM Session Reversal Model is an intraday model that exploits price over-extension during the New York PM session. Wh…

The Sick Sister Consolidation Model is an intermarket divergence model that identifies which of two correlated instrumen…

T.G.I.F. (Thank God It's Friday) is a date-based algorithmic ICT trading model designed for end-of-week range retracemen…

The Venom Model is a proprietary execution model developed by ICT, described as uniquely his own and named for the metap…

Higher timeframe (HTF) money management is a conservative capital allocation and risk framework designed for long-term p…

A rule-based filter set that determines when the London Open Kill Zone should be avoided entirely. The conditions identi…

A trailing stop-loss framework for long-term (quarterly shift) positions executed on the daily chart. The methodology us…

The Risk Management Ladder is ICT's protocol for automatically reducing position size after consecutive losing trades to…

The 25/75 Stop Management Rule is ICT's systematic protocol for trailing the stop loss on an active intraday trade. It o…

Advanced Gap Theory is ICT's hierarchical classification of price gaps (fair value gaps / imbalances), organized by thei…

An Immediate Rebalance (IR) is an algorithmic price delivery signature where price opens (or begins a new leg) and trade…

The Price Delivery Continuum Theory (PDC) is ICT's proprietary framework for reading the order flow and directional inte…

ICT's All-Time High (ATH) Trading Rules define a specific set of behavioral guidelines and bias constraints that apply w…

FOMC Two-Stage Delivery describes the characteristic two-wave algorithmic price delivery pattern that occurs on Federal …

The Storytellers Series is a journaling and market-review methodology introduced by ICT in June 2025 as a dedicated YouT…

The "Secret To Selecting Algorithmic PD Arrays" is ICT's framework for identifying the highest-probability PD array leve…

Scaling In On Consolidations is ICT's technique for building a full position across multiple entries rather than committ…