ICT Glossary A–Z — Every Term Explained
ICT material can read like an encrypted cable: "after the BSL sweep I wait for an MSS and an FVG entry in OTE, target IRL". To an outsider — gibberish; to an ICT trader — a complete trade plan in a single sentence. This glossary decodes every abbreviation in the methodology: each entry gets its full English expansion, a plain-language explanation and — wherever we have one — a link to the full article. Keep it open in a second tab while reading anything about ICT.
A–B
AMD (Accumulation, Manipulation, Distribution) — the three-phase template of the trading day: position accumulation in consolidation, manipulation (a false move that collects liquidity) and distribution, i.e. the real move of the day. The same thing as PO3 — full breakdown in the article on Power of 3.
BB (Breaker Block) — an Order Block that failed and, once broken, flipped polarity: the former demand zone acts as supply, and vice versa. One of the strongest PD Arrays in the arsenal — details in the article on the Breaker Block.
B&B (Bread and Butter) — the "daily bread": a repeatable intraday model played on the London–New York session sequence. We cover it separately in the buy-side and sell-side versions.
BE (Breakeven) — moving the stop-loss to the entry level once the position is in profit. From that moment the trade can no longer produce a loss — the cheapest insurance policy in trading, though overused it kills good positions before their time.
BISI (Buy Side Imbalance, Sell Side Inefficiency) — the bullish flavor of the FVG: an imbalance on the buy side that price flew through too quickly. We cover the BISI/SIBI distinction in the article on SIBI and BISI.
BOS (Break of Structure) — a break of the previous swing high/low in the direction of the trend, confirming its continuation. The foundation of structure reading — full guide in the article on Break of Structure.
BPR (Balanced Price Range) — the area where two opposing FVGs overlap; price has "balanced" that range in both directions and its boundaries act as precise reaction levels. Details in the article on the BPR.
BSL (Buy Side Liquidity) — liquidity on the buy side: the stop-losses of short positions and buy-stop orders resting above old highs. The market reaches for it regularly — how and why, we explain in the article on BSL/SSL liquidity.
C–D
CBDR (Central Bank Dealers Range) — the consolidation between 2:00 PM and 8:00 PM New York time, whose range is used to project targets for the next day. Full description in the article on the CBDR.
CE (Consequent Encroachment) — the midpoint (50%) of an FVG or a wick; the level at which the algorithm most often "touches" the gap before leaving it. Details in the article on Consequent Encroachment.
CHoCH (Change of Character) — a break of the last higher low (in an uptrend) or lower high (in a downtrend): the first signal of a trend reversal. A term more common in the SMC dictionary than in ICT's own — comparison in the articles on CHoCH and BOS vs CHoCH.
CISD (Change in State of Delivery) — a change in how price is being delivered: the moment a series of candles closes on the other side of the previous flow, confirming the turn at the level of the candles themselves rather than the swings. Covered in the article on CISD and compared with MSS in CISD vs MSS.
CRT (Candle Range Theory) — the theory of the candle's range: every higher-timeframe candle goes through the cycle open → sweep of one side → reversal → close, and the lower timeframe lets you trade that cycle.
DOL (Draw on Liquidity) — the liquidity "magnet": the nearest target price is currently being delivered to — an old high/low, an FVG, equal extremes. Identifying the DOL is half the day's analysis.
Daily Bias — the expected direction of the day, derived from the daily timeframe before you ever look at M15. How to establish it, we show in the articles on Daily Bias and the Daily Bias trick.
E–H
EQH / EQL (Equal Highs / Equal Lows) — two or more extremes at a similar level. The textbook location of a liquidity pool — and the favorite target of the sweep that Turtle Soup is played on.
ERL (External Range Liquidity) — external liquidity: the swing high and swing low bounding the current range. Price oscillates between ERL and IRL — we describe the mechanics of that pendulum in the article on IRL and ERL.
FTR (Failed To Return) — a zone price never came back to after a structural breakout; a term more common among supply/demand traders than in the original ICT teaching.
FVG (Fair Value Gap) — the fair value gap: a three-candle formation in which the wicks of the first and third candles don't touch. The single most important concept in the method — complete guide in the article on the Fair Value Gap, and how to tell a strong gap from a weak one in valid vs weak FVG.
HOD / LOD (High of Day / Low of Day) — the high and low of the current day. On a trending day one of them usually forms early, in the London killzone — which is why the question "is the HOD/LOD already in?" organizes the entire rest of the session.
HRLR / LRLR (High/Low Resistance Liquidity Run) — a liquidity run of high or low resistance: the distinction between a path to the target that is "clean" (LRLR) and one blocked by defended levels (HRLR). Details in the article on HRLR and LRLR.
HTF / LTF (Higher/Lower Timeframe) — the higher timeframe (H4, D1, W1 — where you establish context and bias) and the lower one (M1–M15 — where you execute the entry). The whole ICT method is a constant dialogue between HTF and LTF; how to conduct it is shown in top-down analysis.
I–L
IDM (Inducement) — the bait: a level that tempts the retail trader into a premature entry, then gets swept just before the real move. The trap is described in the article on Inducement and its variant after a BOS.
iFVG (Inversion Fair Value Gap) — an FVG broken clean through that flipped polarity: a bullish gap acts as resistance after the break, and vice versa. Details in the article on the Inversion FVG, while the aggressive institutional variant is covered in Reaper IFVG.
Implied FVG — the hidden, "implied" gap: the candle bodies overlap, but the midpoints of the wicks define an imbalance invisible at first glance. How to draw it — in the article on the Implied FVG.
IOFED (Institutional Order Flow Entry Drill) — an entry from the very edge of an FVG, without waiting for a deeper fill: the earliest (and most demanding) entry technique. Covered in the article on IOFED.
IPDA (Interbank Price Delivery Algorithm) — the hypothetical interbank price delivery algorithm on which ICT builds the method's entire narrative: price doesn't move randomly, it is "delivered" from liquidity to liquidity. More in the article on IPDA.
IRL (Internal Range Liquidity) — the liquidity inside the range: the FVGs and Order Blocks within the current range. The counterpart to ERL — details in the article on IRL and ERL.
ITH / ITL (Intermediate Term High/Low) — an intermediate-term high/low: an extreme flanked on both sides by lower short-term highs (or higher short-term lows). The middle rung of the STH → ITH → LTH structure hierarchy.
LP (Liquidity Pool) — a cluster of stop-losses and resting orders at an obvious level. Where to look for them — in the article on liquidity pools.
LTH / LTL (Long Term High/Low) — a long-term high/low: an extreme flanked on both sides by lower ITHs (or higher ITLs). The top rung of the swing hierarchy.
LV (Liquidity Void) — a liquidity void: a violent stretch of one-colored candles that price flew through without two-sided trade, and which it usually comes back to. Described in the article on the Liquidity Void.
M–O
MB (Mitigation Block) — the mitigation block: a zone price returns to in order to "settle" trapped positions before moving on. How it differs from the breaker — in the article on the Mitigation Block.
MMBM / MMSM (Market Maker Buy/Sell Model) — the four-phase templates of the market maker's full cycle: consolidation, sell-off (or rally), accumulation and distribution back. Broken down step by step in the articles on the MMBM and the MMSM.
MSS (Market Structure Shift) — the structure shift: a swing break signaling the first change in the direction of price delivery; the basic entry trigger after a sweep. Complete guide in the article on MSS.
MT (Mean Threshold) — the midpoint (50%) of an Order Block's body; the CE-equivalent level price can reach at most without invalidating the zone.
NDOG (New Day Opening Gap) — the new day's opening gap: the break between the 5:00 PM close and the 6:00 PM open, New York time. NWOG (New Week Opening Gap) — its weekend counterpart between the Friday close and the Sunday open. Both act as magnets — we cover them together in the article on NDOG and NWOG.
OB (Order Block) — the last opposing candle before an impulsive move that broke structure; the zone where institutions left their orders. The method's foundation — from the main article through the bullish and bearish versions to the variants: SCOB, Hidden OB, Reclaimed OB, Rejection Block and Propulsion Block.
OSOK (One Shot One Kill) — the "one shot, one kill" model: one carefully selected trade per week. Described in the article on One Shot One Kill.
OTE (Optimal Trade Entry) — the optimal entry: the 62–79% retracement zone of the last impulsive leg, with the "ideal" level at 70.5%. How to draw it — in the article on OTE and, more broadly, on ICT Fibonacci levels.
P–S
PD Array (Premium/Discount Array) — the umbrella name for all of ICT's price tools: FVGs, OBs, breakers, mitigation, rejection and the remaining zones, organized into a premium/discount price list. The full map in the article on the PD Array Matrix.
PDH / PDL (Previous Day High/Low) — the previous day's high and low: the most universal pair of intraday reference levels and a frequent target of the day when establishing the Daily Bias.
PO3 (Power of Three) — see AMD: accumulation, manipulation, distribution around the opening price. Full description in the article on Power of 3.
QML (Quasimodo) — a reversal formation with a characteristic "broken shoulder", in practice closely related to a liquidity sweep with an immediate MSS.
RB (Rejection Block) — the rejection block: a zone built from long wicks at an extreme, evidence of aggressive defense of the level. Details in the article on the Rejection Block.
RDRB / RRPR (Redelivered, Rebalanced Price Range) — a price range redelivered and rebalanced: price returns to an old gap, rebalances it, and only then continues. Covered in the article on the RDRB.
SB (Silver Bullet) — the one-hour window (most notably 10:00–11:00 AM New York time) in which the algorithm typically delivers an FVG entry in the direction of the bias. Guide in the article on the Silver Bullet and its overlap with the killzones.
SCOB (Single Candle Order Block) — a one-candle Order Block used for surgical entries on low timeframes. Described in the article on the SCOB.
SIBI (Sell Side Imbalance, Buy Side Inefficiency) — the bearish flavor of the FVG; the mirror image of BISI. Details in the article on SIBI and BISI.
SMT (Smart Money Technique divergence) — a divergence between correlated instruments: one makes a new extreme, the other doesn't — a sign the move is manipulation, not strength. Guide in the article on SMT Divergence.
SSL (Sell Side Liquidity) — liquidity on the sell side: the stop-losses of long positions and sell-stop orders below old lows. The counterpart to BSL — details in the article on BSL/SSL liquidity.
STH / STL (Short Term High/Low) — a short-term high/low: a local extreme with lower highs (higher lows) on both sides; the lowest rung of the structure hierarchy. The underlying three-candle formation is described in the article on the swing low.
T–Z
TGIF (Thank God It's Friday) — the Friday profit-taking profile: toward the end of the week price often retraces 20–30% of the weekly range. Described in the article on TGIF.
TS (Turtle Soup) — the play against a false breakout of equal highs/lows: sweep, no continuation, reversal. Guide in the article on Turtle Soup.
To round out the set, it's worth knowing the concepts that have no abbreviation but come back in every analysis: killzones (the session windows), Macro Times (the algorithm's minute-level windows), displacement (the conviction move), the Judas Swing (the false move at the open) and the Asian Range (the overnight base of the day).
Where to start so this alphabet makes sense
A glossary is a map, not a route. If you're just getting into ICT, don't learn the entries alphabetically — learn them in layers: first liquidity (BSL, SSL, LP), then structure (BOS, MSS, CHoCH), then PD Arrays (FVG, OB, OTE), and finally time (PO3, killzones, Silver Bullet). That's exactly the order our guide to the most important ICT concepts follows — the natural next step after this glossary. And if you run into an abbreviation in any material that's missing here, let us know on Discord: the glossary lives and grows with the blog.
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