OTE Scanner Charts Algo

The OTE Scanner Charts Algo is a powerful TradingView indicator designed to scan up to 40 tickers simultaneously and identify when a symbol's price enters the Optimal Trade Entry (OTE) zone based on Fibonacci retracement levels.

It simplifies trading by visually alerting you when any selected ticker enters the golden retracement levels (0.618–0.705), helping you pinpoint high-probability entry zones in both bullish and bearish trends.

🔧 How It Works
The scanner calculates recent swing highs and lows using a user-defined Swing Lookback Period, then plots Fibonacci levels based on those swings. When the current price falls within a defined OTE zone in confluence with trend direction, the ticker is displayed in the Bullish or Bearish table, along with its live price.

✅ Key Use Cases:
Identify potential retracement entries during trending moves

Spot symbols aligned with Smart Money's entry behavior

Scan up to 40 tickers instantly for trade setups

⚙️ Indicator Settings Explained
🔁 Fibonacci Levels
Customize your retracement levels:

Fib Level 1: Typically 0.5 (Mid-point)

Fib Level 2: 0.618 (OTE Entry Zone)

Fib Level 3: 0.705 (Inner OTE)

Fib Level 4: 0.786 (Deeper OTE entry)

These levels are used to define the bullish/bearish OTE zones on the chart and across your ticker list.

📉 Swing Lookback Period
Controls how far back the indicator looks to define swing highs and lows

A typical setting is 5 bars (or candles), but you can adjust this based on volatility or timeframe

📊 EMA Trend Filter
Source: Close (default)

Length: 200 EMA (default)

Determines market trend:

Price above EMA = Uptrend

Price below EMA = Downtrend

Ensures only retracements in the trend direction are shown (bullish OTE in uptrend, bearish OTE in downtrend)

📦 Symbols to Scan (1–40)
You can enter up to 40 different tickers (from any exchange) to scan simultaneously.

Each ticker will be evaluated in real-time, and if it enters the OTE zone, it will be added to the visual results table:

✅ Green = Bullish OTE

🔴 Red = Bearish OTE

🧠 Want to scan more than 40 symbols?
You can simply add the indicator again on your chart and input a new set of 40 tickers. Each instance of the script works independently.

📋 Results Table Options
Show Exchange: Enable this to display "NASDAQ:AAPL" instead of just "AAPL"

Wait for Bar Close: Ensures the signal only confirms on closed candles (helps avoid false positives)

Table Position: Move the table to your desired location on the chart

Table Color: Change the table’s background to match your theme

🎨 Visualization Controls
Show Fib Lines: Draws boxes and lines over the OTE zone on the active chart

Show Fib Labels: Displays Fibonacci levels and their values beside the lines

This makes it easy to visually align the scanner’s logic with price action.

🧠 Example Use Case
You’re watching 40 of your favorite tickers. You activate the OTE Scanner, and the table alerts you that AAPL and MSFT have entered their bullish OTE zones on the 1H chart.

From there, you can:

Check confluence with support zones or order blocks

Wait for bullish confirmation (e.g., bullish engulfing or market structure shift)

Plan your trade entry with precision

⚠️ Disclaimer
Charts Algo provides technical analysis tools and scanners for educational and informational purposes only. These indicators do not constitute financial advice or trading recommendations. Always do your own due diligence and manage your risk accordingly. Past performance is not indicative of future results.