Silver Bullet

What it measures

ICT’s Silver Bullet is traded in one of three New York hours: 3:00 to 4:00 (London), 10:00 to 11:00 (AM) and 14:00 to 15:00 (PM). First you look at where price is heading, the liquidity ahead of it. Then you wait for a market structure shift (MSS) with displacement and the FVG it leaves, and the limit order waits on that FVG.

The indicator marks every FVG that follows an MSS inside the hour, with its entry, its stop and its target on the liquidity. It works on every market.

It’s a Pro plan indicator. It marks what has happened; it isn’t a recommendation or a buy or sell signal.

How it’s calculated

• Hours: the order is placed inside a window, in New York time. By default, ICT’s three: “Window 1”, from 10:00 to 11:00; “Window 2”, from 14:00 to 15:00; “Window 3”, from 3:00 to 4:00. The hour is decided by the FVG’s third candle. With “Only inside the windows” off, any hour counts.
• The pattern: an FVG that falls inside the displacement of a break — its middle candle, between the extreme the leg starts from and the candle that breaks — and that, by default, is a market structure shift (MSS) (“Require a structure shift (MSS) before the FVG”). With it off, a BOS counts too, and even an FVG with no break. Highs and lows are three-candle ones.
• Prior sweep: optional. With “Require a sweep before the FVG”, the FVG only counts if a low (for the bullish) or a high (for the bearish) was taken in the previous 30 candles (“Candles to look for the sweep in”).
• Entry: a limit order at the FVG’s edge (“At the edge of the zone” by default; also “At the midpoint (CE)” or “At the other edge of the zone”, under Entry and exit › “Entry”). It’s placed when the FVG’s third candle and the breaking candle have closed. The first one that forms inside the hour is the one traded.
• Stop: beyond the extreme of the leg, where the displacement starts, plus 1 tick (“Stop ticks beyond its level”). With “Stop” you can put it “Beyond candle 1 of the FVG”.
• Target: the nearest reference liquidity on the other side of the entry that hasn’t been taken yet: the previous day’s high and low (PDH, PDL) and the previous week’s (PWH, PWL), the highs and lows of the Asia, London, NY AM and NY PM sessions, equal highs and lows (EQH, EQL) and the 15-minute ones; also the chart’s own highs and lows (BSL, SSL), which only count as a target. You choose them under Liquidity. With no liquidity in sight, it isn’t traded. With “Target” set to “Fixed R”, the target is worth 2 R by default. The liquidity has to be at least 20 ticks (5 points on indices) from the entry (“Target no closer than”): the nearest one that offers it is chosen.
• Minimum range: from the extreme of the leg to the liquidity there have to be at least 40 ticks, 10 points on indices (“Minimum framework up to the liquidity (ICT: 40 ticks = 10 points on indices)”). If it doesn’t offer them, it isn’t traded (“short framework”). Set to 0 it’s off.
• Which ones are traded: one at a time. While an order is placed or a trade is open, the others are discarded (“another in play”), and at most 1 is traded per window (from 1 to 5 under “Trades per window”). Mondays can be skipped with “Skip Mondays”.
• What cancels the order: the limit order waits at most 30 candles (“Candles the order stays open”); it’s cancelled when its window ends (with “Cancel the order when the window ends”, on by default) and it’s lost if price reaches the target without having entered (“ran off, no entry”). If the trade has already entered, it stays open after the hour ends.
• What is discarded: a stop less than 4 ticks from the entry (“Minimum risk”; “stop too close”) and whatever falls outside the windows (“out of hours”). “Minimum R to trade” is 0: no filter.
• If the target and the stop are both reached within one candle, there’s no way to know which came first: by default the order that platforms assume is used (“If the order within a candle is unknown”); it can also count as a loss or not count.
• Time frame: the pattern comes from the chart’s candles or, with “Time frame of the pattern”, from larger candles built from them. The order is always simulated with the chart’s candles, and 10 days are analyzed (“Days back”).

How to read it

• The break that originates the displacement shows as a light grey line with its name, “MSS” or “BOS”.
• The FVG is filled ice if bullish and pink if bearish, and the entry line starts from it.
• When price enters, the target box (ice) and the stop box (pink) appear; while the order waits, the target and the stop are dashed lines. Bullish ones are ice, bearish ones pink.
• The text on each setup says “SB”, the direction, “MSS” or “BOS” and its state: “order placed”, “in progress”, the result in R, “not filled” or “ran off, no entry”. Turn it off with “Write the text of each setup”.
• With “Show the ones not traded” the discarded ones appear too, fainter and with the reason (“out of hours”, “another in play”…).
• A results panel in a corner summarizes the trades of the loaded period. A help box inside the indicator, bottom left, sums it up on the chart itself; turn it off under Help › “Show how to use it”.

Which chart to put it on

Put it on a 1 to 5 minute entry chart: the Silver Bullet is traded within one hour and the FVG is looked for with the chart’s candles. For the 3:00 to 4:00 hour you need a chart with electronic trading hours (ETH).

It works on every market. The minimum range is in ticks: 40 ticks are 10 points on indices; on forex ICT talks about 15 pips, and you adjust it in that same setting.

Built-in strategies

What the indicator already has inside and can mark for you on the chart. They show what has happened; they are not recommendations.

Adding it to the chart

In the chart bar, Indicators ▾ › More Indicators…. You’ll find it in the ICT category. It’s a Pro plan indicator. How to add and adjust an indicator is in Indicators.

Settings

Open them with the ⚙ on its row in Indicators ▾. All times are New York time.