MT4 Premium and Discount ICT Indicator Download - Free - [TFlab] | Forex Indicator Download - MetaTrader 4 Resources

The Premium and Discount indicator creates a zigzag line to account for minor trends and plots premium and discount areas.

This MetaTrader 4 levels indicator is designed based on the ICT trading methodology and helps identify entry points and set Take Profit (TP) and Stop Loss (SL) levels.

Unlike the MT4 automatic premium and discount indicator , the premium and discount indicator can only plot areas of secondary trends.

The "D" label is at the low point and the "P" label is at the price high point. Premium and discount area boxes can be drawn by clicking on these labels.

Price and discount indicator specification table

The table below contains the specifications of the premium and discount indicators, including market type, suitable time frame, etc.

The price and discount indicators are clear at a glance

Premium and discount areas appear as colored boxes on the chart. In both bullish and bearish trends, the indicator considers the starting point 50% trend level as the Premium Zone , marked in pink.

The Premium Zone is a suitable price zone during a trend for reversal and trade entry.

Buying positions in an uptrend

In analyzing the GBP/USD currency pair in a 5-minute timeframe , the premium and discount areas are shown using blue and pink boxes .

Since the trend tends towards higher price levels, the return to the advanced zone provides a suitable opportunity to buy trades .

Selling positions in a downtrend

Based on the Solana (SOL) cryptocurrency chart on a 15-minute timeframe , a return to the advanced zone offers one of the best opportunities to sell trades after forming a bearish leg.

As shown in the figure below, traders can define premium and discount areas for all minor trends .

Price and discount indicator settings

The image below illustrates the settings panel of the Premium Zone and Discount Zone indicators :

• Opposite Color: Change the jagged line color

Conclusion

The Premium and Discount indicator is one of the ICT indicators for MetaTrader 4 . It aims to define premium zones and discount zones for minor trends .

The ICT Premium Zone and Discount Zone indicator uses color-coded boxes to map these zones and identify the 50% trend level .

Marked areas help traders identify entry points and define take profit (TP) and stop loss (SL) levels .