Candle OTECandle OTE– Volume-Based Institutional Zones
This indicator identifies high-probability Optimal Trade Entry (OTE) zones using strong momentum candles combined with volume confirmation.
It scans for “firm” candles (where the body is at least 50% of the total range) that also show a volume increase compared to the previous candle, signaling potential institutional activity.
Once detected, the script automatically plots a forward-projected zone based on Fibonacci levels:
* Bullish Candles:
Draws a green OTE zone between the 61.8% and 50% retracement from the candle’s low
* Bearish Candles:
Draws a red OTE zone between the 50% and 61.8% retracement from the candle’s high
These zones represent areas where price may retrace before continuing in the direction of the move, offering potential precision entries.
Key Features:
* Detects strong momentum candles using body-to-range ratio
* Confirms setups with increasing volume
* Automatically plots OTE zones using Fibonacci logic
* Extends zones forward for easier trade planning
* Fully customizable colors, opacity, and projection length
Best Used For:
* Identifying pullback entries in trending markets
* Smart money / institutional-style trading strategies
* Confluence with market structure, liquidity, or higher timeframe bias
Pine Script® indicator






















