TGIF Dynamic Tracker [NINE Θ]

Overview

A professional-grade indicator for tracking weekly price ranges and identifying high-probability retracement zones based on the TGIF (Thank God It's Friday) concept from ICT (Inner Circle Trader) methodology.

What is the TGIF Concept?

The TGIF concept is based on the observation that price tends to retrace a significant portion of the weekly range toward the end of the trading week — typically on Thursday evening or Friday. This phenomenon occurs as institutional traders take profits and rebalance positions before the weekend, creating predictable retracement patterns.
By identifying the weekly high and low, traders can anticipate specific retracement levels where price is likely to find support or resistance. The most commonly referenced retracement zone is the 20-30% level, representing a shallow pullback from the week's extreme before potential continuation.



Features In Depth

Weekly High/Low Tracking

The foundation of the TGIF strategy is accurately tracking the current week's price extremes.
Automatic Detection: The indicator continuously monitors price action and updates the weekly high and low in real-time. As new extremes are made, all dependent calculations (retracement zones, percentage levels) update automatically.

Smart Session Timing: The indicator automatically detects your market type and adjusts accordingly:

Stocks/ETFs: Week begins Monday at 9:30 AM ET (market open)



Forex/Crypto/Futures: Week begins Sunday at 6:00 PM ET (18:00)

This ensures accurate weekly range calculations regardless of which market you're trading.

Visual Customization:

Enable/disable weekly high and low lines independently
Choose line color, style (solid, dashed, dotted), and thickness
Lines extend from week start to current bar



Percentage Level Lines

Individual horizontal lines mark key retracement percentages within the weekly range.

Available Levels:

20% — Shallow retracement, first potential support/resistance
30% — Edge of the primary TGIF zone
50% — Mid-range equilibrium point
60% — Beginning of deeper retracement territory
80% — Deep retracement zone
90% — Near-complete retracement

Independent Controls: Each level can be toggled on or off individually, allowing you to display only the levels relevant to your trading strategy. All levels share common styling settings for a clean, consistent appearance.



Dynamic Bias Adjustment: Levels automatically adjust based on the current weekly bias:

Bullish Bias (new weekly high made): Levels measure DOWN from the high
Bearish Bias (new weekly low made): Levels measure UP from the low

This ensures retracement zones always point toward the direction of potential pullback.

Retracement Zones

Highlighted zones visually emphasize the most significant retracement areas.

Three Configurable Zones:

20-30% Zone (Primary TGIF Zone)

This is the classic TGIF retracement area. When price makes a weekly high or low, traders anticipate a pullback to this zone before potential continuation. This shallow retracement often provides optimal risk/reward entries in the direction of the weekly trend.

50-60% Zone (Equilibrium Zone)

Represents a balanced pullback to the middle of the weekly range. Price reaching this zone suggests a more significant retracement is underway. This area often acts as a decision point — price either finds support/resistance here or continues toward deeper retracement levels.

80-90% Zone (Deep Retracement Zone)

Indicates a near-complete retracement of the weekly range. Price reaching this zone suggests the original weekly move may be fully reversing. Traders watch for reversal signals here or prepare for a potential range expansion in the opposite direction.

Zone Display Options:

Each zone can be enabled/disabled independently
Customizable background colors with transparency control
Zones only appear during the retracement period (starting Thursday/Friday)

Midlines: Optional center lines within each zone (25%, 55%, 85%) provide additional precision points. These midlines often act as the "sweet spot" within each retracement band.

Time-Based Markers

Vertical lines help you identify important session boundaries and timing.
Daily Session Lines:
Mark the start of each trading day with vertical lines extending through the weekly range.

Stocks: 9:30 AM ET (NYSE/NASDAQ open)
Forex/Crypto/Futures: 6:00 PM ET (18:00 — New York session close/new day start)

Control how many historical session lines remain visible (1-5) to avoid chart clutter while maintaining useful reference points.

Weekly Start Lines:

A distinct vertical line marks the beginning of each trading week, providing clear visual separation between weeks and helping you identify the starting point for weekly range calculations.

Retracement Start Lines:

Mark when the TGIF retracement period begins — this is when you should start watching for pullbacks to the retracement zones.

Stocks: Friday 9:30 AM ET (Friday market open)
Forex/Crypto/Futures: Thursday 6:00 PM ET (18:00)


Historical Weeks

View retracement data from previous weeks to identify recurring patterns and validate the TGIF concept on your chosen instrument.

Historical Tracking:

Display up to 20 previous weeks of data
Each historical week shows its own high/low lines, retracement zones, and time markers
Helps identify how consistently the instrument respects TGIF levels



What's Displayed:

Weekly high and low boundaries
All enabled retracement zones with midlines
Weekly start and retracement start lines
Optional labels for historical levels

Historical Labels: Toggle labels on historical weeks independently. Disable them to reduce clutter while keeping the visual reference lines.
Use Cases:

Backtest TGIF setups visually on your chart
Identify instruments that respect TGIF levels consistently
Study how deep retracements typically go on your chosen market


Labels & Display Modes

Comprehensive labeling options for quick reference.

Label Display Modes:

Levels: Shows only the level name (e.g., "HIGH", "20%", "50%")
Price: Shows only the price value
Both: Shows level name and price (e.g., "20% | 1.2345")

Label Positioning: Labels appear to the right of the current bar, staying visible as price action develops.

Tooltips: When using "Levels" display mode, hover over any label to see the exact price in the tooltip.

Label Customization:

Text size: Tiny, Small, Normal, Large, Huge
Text color selection
Labels use monospace font for clean alignment


Info Table

An optional real-time summary table showing all current levels and their distance from price.
Table Contents:

Current day indicator (MON, TUE, WED, THU, FRI)
All six percentage levels (20%, 30%, 50%, 60%, 80%, 90%)
Exact price for each level
Distance from current price to each level

Adaptive Theming: The table automatically detects your chart's background color (light or dark) and adjusts text and border colors for optimal readability.
Display Settings:

9 position options (corners, edges, and center)

Size options: Tiny, Small, Normal, Large

Practical Use: Quickly identify which level is nearest to current price without visually scanning the chart. The distance column helps assess how far price needs to travel to reach key zones.



Smart Market Detection

The indicator automatically identifies your market type and adjusts all timing calculations.

Detected Market Types:

Stocks & ETFs:

Week starts: Monday 9:30 AM ET
Daily sessions: 9:30 AM ET
Retracement period begins: Friday 9:30 AM ET
Standard equity market hours apply

Forex & Crypto:

Week starts: Sunday 6:00 PM ET (18:00)
Daily sessions: 6:00 PM ET (18:00)
Retracement period begins: Thursday 6:00 PM ET (18:00)
24-hour market timing with New York session rollover

Futures Contracts:

Automatically detected via common futures symbols (ES, NQ, YM, RTY, CL, GC, etc.)
Uses forex-style timing (18:00 ET rollover)
Handles continuous contracts and front-month symbols

This automatic detection ensures you get accurate weekly ranges without manual configuration.

Bias Tracking

The indicator dynamically tracks weekly directional bias to orient retracement calculations correctly.

How Bias is Determined:

When price makes a new weekly high, bias shifts to BULLISH
When price makes a new weekly low, bias shifts to BEARISH
Bias can change multiple times throughout the week as new extremes are made

Why Bias Matters:

Retracement levels are calculated from the appropriate extreme based on current bias:

Bullish bias: Levels measure DOWN from the weekly high (anticipating pullback from high)
Bearish bias: Levels measure UP from the weekly low (anticipating pullback from low)

This ensures the 20-30% zone always represents a shallow retracement in the context of the current weekly direction.

Tips

Best Results on Trending Weeks: TGIF works best when there's a clear weekly direction. Choppy, range-bound weeks may not produce clean retracements.

Combine with Other Confluence: TGIF levels are most powerful when they align with other technical factors — Fair Value Gaps, order blocks, previous week highs/lows, or key support/resistance levels.

Use Historical Data: Enable historical weeks to see how your instrument typically respects TGIF levels. Some instruments are more "TGIF-friendly" than others.

Midlines as Precision Points: The midlines (25%, 55%, 85%) often act as the exact reversal point within each zone. Watch for reactions specifically at these levels.

Friday Afternoon Caution: Late Friday sessions can be thin and choppy. Consider taking profits or reducing position sizes heading into the weekend.


Requirements

Intraday Timeframes Only: This indicator requires timeframes of 1 hour or less for accurate session and weekly boundary detection.
Sufficient Historical Data: When using the Historical Weeks feature, ensure your chart has enough bars loaded to display the requested number of weeks.
Session-Based Markets: Optimized for markets with distinct sessions. Continuous 24/7 markets may show different characteristics.


Disclaimer

For Educational and Informational Purposes Only

This indicator is provided as a technical analysis tool for educational and informational purposes only. It is not intended as, and should not be construed as, financial advice, investment advice, trading advice, or any other type of advice.

No Guarantees: Past performance of any trading strategy, indicator, or methodology is not indicative of future results. The TGIF concept and associated retracement levels do not guarantee that price will behave in any predicted manner. Markets are inherently
unpredictable, and no technical indicator can accurately predict future price movements.
Risk Warning: Trading financial instruments involves substantial risk of loss and is not suitable for all investors. You should carefully consider your investment objectives, level of experience, and risk appetite before trading. Never trade with money you cannot afford to lose.

Not Financial Advice: The creator of this indicator (NINE) is not a licensed financial advisor, broker, or dealer. Nothing in this indicator or its documentation should be interpreted as a recommendation to buy, sell, or hold any financial instrument.

Your Responsibility: You are solely responsible for your own trading decisions. Always conduct your own research and due diligence before making any trading or investment decisions. Consider consulting with a qualified financial professional before trading.

No Liability: The creator assumes no responsibility or liability for any errors, inaccuracies, or omissions in this indicator or its documentation. The creator shall not be held liable for any losses, damages, or costs arising from the use or inability to use this indicator.