This indicator helps you identify market structure by plotting swing highs and lows (HH, LH, HL, LL), BOS/CHOCH and 0.5 retracement levels. Other functionalities will be added in future updates.
Indicator Settings Overview
SWING LENGTH The number of leftbars and rightbars when searching for swing points. The lower the value, the more swing points are shown and the higher the value, the less swing points are shown. I suggest adjusting it to fit your style and when switching between different timeframes.
BOS CONFIRMATION Choose whether a Break of Structure is determined by a candle close or a wick breaching previous swing point. Using the "Wick" confirmation option will result in more breaks of structure.
CHOCH Turning this ON renames the first counter trend Break of Structure (BOS) to CHoCH (Change of Character) and therefore signaling a possible trend shift.
SHOW 0.5 RETRACEMENT LEVEL This will show a level halfway between a swing low and a swing high of an expansion move, which can act as an approximate retracement point if the trend continues. In uptrends, 0.5 level is drawn between Higher Lows (HL) and Higher Highs ( HHs ). Long entries can be placed around that level if you suspect that the uptrend will continue. In downtrends, 0.5 level is drawn between Lower Highs (LH) and Lower Lows (LLs). Short entries can be placed around that level if you suspect that the downtrend will continue.
Notas de Lançamento
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Added an option to show or hide swing points (HH, LH, HL, LL).
Great job, keep it up, proud it of you! Guy below pointed out a good idea, to combine all ict aka smart money instruments into one indicator. Including Order Block, FVG, Stop Hunts (SFP) and etc
LeviathanCapital
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@Ukrainianprofitmaster, Thanks! I will add more tools in future updates
tradingview.com/script/CnB3fSph-Smart-Money-Concepts-LUX/