DZ Strategy ICT

The script presented is a trading strategy called "Breaker Block Strategy with Price Channel". This strategy uses multiple time frames (1 minute, 5 minutes, 15 minutes, 1 hour, and 4 hours) to detect support and resistance areas on the chart.

The strategy uses parameters such as length, deviations, multiplier, Fibonacci level, move lag and volume threshold for each time frame. These parameters are adjustable by the user.

The script then calculates support and resistance levels using the simple moving average (SMA) and standard deviation (STDEV) of closing prices for each time frame.

It also detects "Breaker Blocks" based on price movement from support and resistance levels, as well as trade volume. A Breaker Block occurs when there is a significant breakout of a support or resistance level with high volume.

Buy and sell signals are generated based on the presence of a Breaker Block and price movement from support and resistance levels. When a buy signal is generated, a buy order is placed, and when a sell signal is generated, a sell order is placed.

The script also plots price channels for each time frame, representing resistance and support levels.

Profit limit levels are set for each time range, indicating that the price levels assigned to positions should be closed with a profit. Stop-loss levels are also set to limit losses in the event of canceled price movements.

In summary, this trading strategy uses a combination of Breaker Block detection, support and resistance levels, price channels and profit limit levels to generate buy and sell signals and manage positions on different time ranges.