Clarification on ICE, Izone, Magnet levels

#1

Hi,

Did see videos on ICE volume indicator, Institutional zone (Izone) and Magnet price level indicators…

Looks like all three revolves around the same concept… kind of support and resistance level for price target/entry and requiring exceeding volume to break-thru… but i couldn’t figure out the “exact” difference b/w these three?..

If they are all meant for and serves same purpose, then why to use or have three?.. why dont we use the best among them?.. OR if they are meant for different purpose or markets or instruments etc, what are they?.. when to use what?.. what is the recommended use of these three?.. independently or combining them together?..

Also is there any specific chart size needs to be set for these indicators to work well/accurately?..

Appreciate if @lh541 could clarify the same.

Thanks.

#2

Infact, deaviation and expected range indicators also kind of giving you the same information. But deviation is based on the previous day settlement price and runs for the whole day and expected range for shorter time frame. But the above three is of more dynamic based on the volume.

So even though these two also gives you the potential support/resistance, but based on other data which is different than intraday volume.

#3

They are similar with slight differences. There are many purposes each can be used for. Yes, they all act as a type of support and resistance. There is no specific type of chart for each or any to work best on. They are indicators to be used with other indicators as you choose. The ICE lines are a summary of sorts, stronger lines. The Izones give you a more intimate look at where the orders previously stopped and reversed and will again need volume to get through. Magnets are a bigger picture tool for larger time frames. You can use any of these together or separately combined with other tools you may choose for your favorite trade setups. Hope that helps.

#4

Thanks @lh541 .

one more clarification - can we use this indicator on apex diagnostics bars ?.. bcos in the izone sharp shooter video, darrell said we got to use apex shadow continum bars where he used ICE and izone indicators. but i believe if i want to these indicators alone, i can very well use regular 14 tick or 10 tick apex diag bar charts - right?.. pls. confirm.

Thanks again! Vad–