Quarterly Theory ICT 01 Indicator: Four Quarters A Cycle

Written by Dominic Walsh · Published 23 Jun 2026 · Last updated 9 Sep 2026

The quarterly theory ict 01 indicator divides time into quarters and labels each one. Q1 through Q4 stand for accumulation, manipulation, distribution and reversal. The tool tracks the high and low of the current quarter, then marks the close that breaks the previous quarter range.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	4: QT High, QT Low, QT Buy, QT Sell
Alerts	popup, push notification, email, sound
Inputs	14

What the Quarterly Theory ICT 01 Indicator draws on the chart

QT High is the dodger blue line at the running quarter high.

QT Low is the orange red line at the running quarter low.

QT Buy and QT Sell mark a close beyond the previous quarter range.

OBJ_VLINE boundaries and OBJ_TEXT labels split the chart into quarters.

• QT High: line, dodger blue, width 2
• QT Low: line, orange red, width 2
• QT Buy: arrow, lime, width 2, arrow code 233
• QT Sell: arrow, red, width 2, arrow code 234

How the Quarterly Theory ICT 01 Indicator calculates its values

Finding the quarter

QuarterIndex maps each bar time to a quarter number. When that number changes the code starts a fresh high and low. So the two lines climb and fall inside a quarter, then reset at the boundary.

Tracking the range

cur_q_high extends whenever a bar prints higher, and cur_q_low extends downward the same way. Both go into the plotted buffers, which is why the lines look like a staircase rather than a curve.

Marking a break

A buy needs the current close above the previous quarter high, with the earlier close at or below it. The sell case mirrors that. `NonRepaint` keeps every test on completed bars.

How to read the signals

Each colour label names the role that quarter is meant to play.

The two lines show what the current quarter has covered so far.

A break mark measures against the previous quarter, not the current one.

Turn `ShowQuarterLines` off when the vertical boundaries crowd the candles.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

The alert block sits behind `EnableAlerts`, which starts on, and `EnablePopup` carries the message. `EnablePushNotify`, `EnableEmail` and `EnableSound` all begin false. `SoundFile` picks the clip. One quarter message follows each closed bar.

Every Quarterly Theory ICT 01 Indicator input

Core settings

Setting	What it does	Default
NonRepaint	Keeps every test on closed bars, default `true`.	on

Display settings

Setting	What it does	Default
ShowQuarterLines	draw vertical lines at each quarter boundary. Draws a vertical line at each quarter boundary, default `true`.	on
ShowQuarterLabels	label quarters Q1..Q4 (AMDX). Labels the quarters Q1 through Q4, default `true`.	on
Q1Color	Accumulation. Accumulation colour, default steel blue.	steel blue
Q2Color	Manipulation. Manipulation colour, default gold.	gold
Q3Color	Distribution. Distribution colour, default lime green.	lime green
Q4Color	Reversal. Reversal colour, default tomato.	tomato
ArrowOffsetPoints	Mark distance from the bar in points, default `30`.	30

Alert settings

Setting	What it does	Default
EnableAlerts	Master switch for the quarter break alerts, default `true`.	on
EnablePopup	Terminal dialog on a quarter break, default `true`.	on
EnablePushNotify	Phone push on a quarter break, default `false`.	off
EnableEmail	Mail delivery on a quarter break, default `false`.	off
EnableSound	Sound playback on a quarter break, default `false`.	off
SoundFile	Wav clip for the quarter alert, default `alert.wav`.	alert.wav

Settings that fit your chart

Quarter divisions need enough bars per quarter to mean anything. EURUSD H1 is the reference chart, where each quarter covers a useful stretch of candles. On M5 the boundaries arrive constantly and the labels crowd the screen. On H4 a quarter can be only a handful of bars.

When the Quarterly Theory ICT 01 Indicator fails

The quarter labels describe an intended role, and price often ignores it entirely.

A break of the previous quarter range is a plain breakout test wearing a framework name.

Boundaries depend on the broker server clock, which shifts the whole grid between brokers.

Copy the compiled Quarterly Theory ICT 01 Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Related on forexmt4systems.com: ICT Style Strategy.

Background reading on the method behind the Quarterly Theory ICT 01 Indicator: Mosaic theory (investments) on Wikipedia, Dow Theory at StockCharts ChartSchool.

Download the Quarterly Theory ICT 01 Indicator for MT4 and MT5

The zip holds the compiled Quarterly Theory ICT 01 Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What do the Q1Color through Q4Color labels mean?

They name the four phases the framework describes: accumulation, manipulation, distribution and reversal. The colours are labels rather than logic. Nothing in the code checks whether price actually behaves that way in a given quarter.

What does the QT High line track?

The highest price reached so far inside the current quarter. It extends as new highs print and resets when the quarter changes. That staircase shape is the point, since it shows what the quarter has covered.

Which range does a QT Buy mark break?

The previous quarter high, not the current one. The current range is still forming, so testing against it would produce a mark on almost every new high. Using the completed quarter gives a fixed level.

Does NonRepaint change what gets drawn?

It keeps every test on closed bars, which is the setting you want. With it true a mark that has printed cannot be withdrawn by the next tick. The two range lines still extend live as the quarter develops.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Quarterly Theory ICT 01 Indicator as one input. Always backtest before trading live.