Market Structure Trailing Stop [LuxAlgo]This script returns trailing stops on the occurrence of market structure (CHoCH/BOS labeling). Trailing stops are adjusted based on trailing maximums/minimums with the option for users to be able to control how quickly a trailing stop can converge toward the price.
🔶 SETTINGS
Pivot Lookback: Pivot length used for the detection of swing points.
Increment Factor %: Controls how fast trailing stops converge toward the price, with lower values returning slower converging trailing stops.
Reset Stop On: Determines if trailing stops are reset on CHoCH structure or all (CHoCH + BOS).
Show Structure: Determines if market structure is displayed.
🔶 USAGE
Trailing stops allow traders to protect them against downside risk while also guaranteeing a potential profit in case the market goes in the expected direction of the trade.
Users making use of market structure as a primary entry condition can benefit from having trailing stops based on these to either provide an additional exit condition or to provide points of support/resistance with the price.
Trailing stops can avoid being hit more frequently by using a lower Increment Factor % setting.
Finally, users can reset the trailing stop when any market structure is detected (or only on CHoCHs). Allowing trailing stops to reset on the detection of any market structure allows the indicator to return trailing stops closer to the price. CHoCH labels are highlighted as dashed lines while BOS labels are highlighted as dotted lines.
🔶 DETAILS
When a new structure (or only CHoCH if specified by the user) is detected, trailing stops will initially be set based on the maximum/minimum made on the previous trend. This will also set the trailing maximum/minimum to the current price value.
If an uptrend is detected (most recent market structure is bullish) then the trailing stop will increase if the trailing maximum increase, the increment is calculated as:
trailing stop = trailing stop + Increment Factor % of (trailing maximum - previous trailing maximum)
If a downtrend is detected (most recent market structure is bearish) then the trailing stop will decrease if the trailing minimum decrease, the decrement is calculated as:
trailing stop = trailing stop + Increment Factor % of (trailing minimum - previous trailing minimum)
Choch
Market Structure & Liquidity: CHoCHs+Nested Pivots+FVGs+Sweeps//Purpose:
This indicator combines several tools to help traders track and interpret price action/market structure; It can be divided into 4 parts;
1. CHoCHs, 2. Nested Pivot highs & lows, 3. Grade sweeps, 4. FVGs.
This gives the trader a toolkit for determining market structure and shifts in market structure to help determine a bull or bear bias, whether it be short-term, med-term or long-term.
This indicator also helps traders in determining liquidity targets: wether they be voids/gaps (FVGS) or old highs/lows+ typical sweep distances.
Finally, the incorporation of HTF CHoCH levels printing on your LTF chart helps keep the bigger picture in mind and tells traders at a glance if they're above of below Custom HTF CHoCH up or CHoCH down (these HTF CHoCHs can be anything from Hourly up to Monthly).
//Nomenclature:
CHoCH = Change of Character
STH/STL = short-term high or low
MTH/MTL = medium-term high or low
LTH/LTL = long-term high or low
FVG = Fair value gap
CE = consequent encroachement (the midline of a FVG)
~~~ The Four components of this indicator ~~~
1. CHoCHs:
•Best demonstrated in the below charts. This was a method taught to me by @Icecold_crypto. Once a 3 bar fractal pivot gets broken, we count backwards the consecutive higher lows or lower highs, then identify the CHoCH as the opposite end of the candle which ended the consecutive backwards count. This CHoCH (UP or DOWN) then becomes a level to watch, if price passes through it in earnest a trader would consider shifting their bias as market structure is deemed to have shifted.
•HTF CHoCHs: Option to print Higher time frame chochs (default on) of user input HTF. This prints only the last UP choch and only the last DOWN choch from the input HTF. Solid line by default so as to distinguish from local/chart-time CHoCHs. Can be any Higher timeframe you like.
•Show on table: toggle on show table(above/below) option to show in table cells (top right): is price above the latest HTF UP choch, or is price below HTF DOWN choch (or is it sat between the two, in a state of 'uncertainty').
•Most recent CHoCHs which have not been met by price will extend 10 bars into the future.
• USER INPUTS: overall setting: SHOW CHOCHS | Set bars lookback number to limit historical Chochs. Set Live CHoCHs number to control the number of active recent chochs unmet by price. Toggle shrink chochs once hit to declutter chart and minimize old chochs to their origin bars. Set Multi-timeframe color override : to make Color choices auto-set to your preference color for each of 1m, 5m, 15m, H, 4H, D, W, M (where up and down are same color, but 'up' icon for up chochs and down icon for down chochs remain printing as normal)
2. Nested Pivot Highs & Lows; aka 'Pivot Highs & Lows (ST/MT/LT)'
•Based on a seperate, longer lookback/lookforward pivot calculation. Identifies Pivot highs and lows with a 'spikeyness' filter (filtering out weak/rounded/unimpressive Pivot highs/lows)
•by 'nested' I mean that the pivot highs are graded based on whether a pivot high sits between two lower pivot highs or vice versa.
--for example: STH = normal pivot. MTH is pivot high with a lower STH on either side. LTH is a pivot high with a lower MTH on either side. Same applies to pivot lows (STL/MTL/LTL)
•This is a useful way to measure the significance of a high or low. Both in terms of how much it might be typically swept by (see later) and what it would imply for HTF bias were we to break through it in earnest (more than just a sweep).
• USER INPUTS: overall setting: show pivot highs & lows | Bars lookback (historical pivots to show) | Pivots: lookback/lookforward length (determines the scale of your pivot highs/lows) | toggle on/off Apply 'Spikeyness' filter (filters out smooth/unimpressive pivot highs/lows). Set Spikeyness index (determines the strength of this filter if turned on) | Individually toggle on each of STH, MTH, LTH, STL, MTL, LTL along with their label text type , and size . Toggle on/off line for each of these Pivot highs/lows. | Set label spacer (atr multiples above / below) | set line style and line width
3. Grade Sweeps:
•These are directly related to the nested pivots described above. Most assets will have a typical sweep distance. I've added some of my expected sweeps for various assets in the indicator tooltips.
--i.e. Eur/Usd 10-20-30 pips is a typical 'grade' sweep. S&P HKEX:5 - HKEX:10 is a typical grade sweep.
•Each of the ST/MT/LT pivot highs and lows have optional user defined grade sweep boxes which paint above until filled (or user option for historical filled boxes to remain).
•Numbers entered into sweep input boxes are auto converted into appropriate units (i.e. pips for FX, $ or 'handles' for indices, $ for Crypto. Very low $ units can be input for low unit value crypto altcoins.
• USER INPUTS: overall setting: Show sweep boxes | individually select colors of each of STH, MTH, LTH, STL, MTL, LTL sweep boxes. | Set Grade sweep ($/pips) number for each of ST, MT, LT. This auto converts between pips and $ (i.e. FX vs Indices/Crypto). Can be a float as small or large as you like ($0.000001 to HKEX:1000 ). | Set box text position (horizontal & vertical) and size , and color . | Set Box width (bars) (for non extended/ non-auto-terminating at price boxes). | toggle on/off Extend boxes/lines right . | Toggle on/off Shrink Grade sweeps on fill (they will disappear in realtime when filled/passed through)
4. FVGs:
•Fair Value gaps. Represent 'naked' candle bodies where the wicks to either side do not meet, forming a 'gap' of sorts which has a tendency to fill, or at least to fill to midline (CE).
•These are ICT concepts. 'UP' FVGS are known as BISIs (Buyside imbalance, sellside inefficiency); 'DOWN' FVGs are known as SIBIs (Sellside imbalance, buyside inefficiency).
• USER INPUTS: overall setting: show FVGs | Bars lookback (history). | Choose to display: 'UP' FVGs (BISI) and/or 'DOWN FVGs (SIBI) . Choose to display the midline: CE , the color and the line style . Choose threshold: use CE (as opposed to Full Fill) |toggle on/off Shrink FVG on fill (CE hit or Full fill) (declutter chart/see backtesting history)
////••Alerts (general notes & cautionary notes)::
•Alerts are optional for most of the levels printed by this indicator. Set them via the three dots on indicator status line.
•Due to dynamic repainting of levels, alerts should be used with caution. Best use these alerts either for Higher time frame levels, or when closely monitoring price.
--E.g. You may set an alert for down-fill of the latest FVG below; but price will keep marching up; form a newer/higher FVG, and the alert will trigger on THAT FVG being down-filled (not the original)
•Available Alerts:
-FVG(BISI) cross above threshold(CE or full-fill; user choice). Same with FVG(SIBI).
-HTF last CHoCH down, cross below | HTF last CHoCH up, cross above.
-last CHoCH down, cross below | last CHoCH up, cross above.
-LTH cross above, MTH cross above, STH cross above | LTL cross below, MTL cross below, STL cross below.
////••Formatting (general)::
•all table text color is set from the 'Pivot highs & Lows (ST, MT, LT)' section (for those of you who prefer black backgrounds).
•User choice of Line-style, line color, line width. Same with Boxes. Icon choice for chochs. Char or label text choices for ST/MT/LT pivot highs & lows.
////••User Inputs (general):
•Each of the 4 components of this indicator can be easily toggled on/off independently.
•Quite a lot of options and toggle boxes, as described in full above. Please take your time and read through all the tooltips (hover over '!' icon) to get an idea of formatting options.
•Several Lookback periods defined in bars to control how much history is shown for each of the 4 components of this indicator.
•'Shrink on fill' settings on FVGs and CHoCHs: Basically a way to declutter chart; toggle on/off depending on if you're backtesting or reading live price action.
•Table Display: applies to ST/MT/LT pivot highs and to HTF CHoCHs; Toggle table on or off (in part or in full)
////••Credits:
•Credit to ICT (Inner Circle Trader) for some of the concepts used in this indicator (FVGS & CEs; Grade sweeps).
•Credit to @Icecold_crypto for the specific and novel concept of identifying CHoCHs in a simple, objective and effective manner (as demonstrated in the 1st chart below).
CHoCH demo page 1: shifting tweak; arrow diagrams to demonstrate how CHoCHs are defined:
CHoCH demo page 2: Simplified view; short lookback history; few CHoCHs, demo of 'latest' choch being extended into the future by 10 bars:
USAGE: Bitcoin Hourly using HTF daily CHoCHs:
USAGE-2: Cotton Futures (CT1!) 2hr. Painting a rather bullish picture. Above HTF UP CHoCH, Local CHoCHs show bullish order flow, Nice targets above (MTH/LTH + grade sweeps):
Full Demo; 5min chart; CHoCHs, Short term pivot highs/lows, grade sweeps, FVGs:
Full Demo, Eur/Usd 15m: STH, MTH, LTH grade sweeps, CHoCHs, Usage for finding bias (part A):
Full Demo, Eur/Usd 15m: STH, MTH, LTH grade sweeps, CHoCHs, Usage for finding bias, 3hrs later (part B):
Realtime Vs Backtesting(A): btc/usd 15m; FVGs and CHoCHs: shrink on fill, once filled they repaint discreetly on their origin bar only. Realtime (Shrink on fill, declutter chart):
Realtime Vs Backtesting(B): btc/usd 15m; FVGs and CHoCHs: DON'T shrink on fill; they extend to the point where price crosses them, and fix/paint there. Backtesting (seeing historical behaviour):
Pivot Highs&lows: Short/Medium/Long-term + Spikeyness FilterShows Pivot Highs & Lows defined or 'Graded' on a fractal basis: Short-term, medium-term and long-term. Also applies 'Spikeyness' condition by default to filter-out weak/rounded pivots
ES1! 4hr chart (CME) shown above, with lookback = 15; clearly identifying the major highs & lows on the basis of how they are fractally 'nested' within lesser Pivots.
-- in the above chart Short term pivot highs (STH) are simply represented by green 'ʌ', and short-term pivot lows (STL) are simply represented by orange 'v'.
//Basics: (as applying to pivot highs, the following is reversed for pivot lows)
-Short term highs (STH) are simple pivot highs, albeit refined from standard with the 'spikeyness' filter.
-Medium-term highs (MTH) are defined as having a lower STH on either side of them.
-Long-term highs (LTH) are defined as having a lower MTH on either side of them.
//Purpose:
-Education: Quick and easy visualization of the strength or importance of a pivot high or low; a way of grading them based on their larger context.
-Backtesting: use in combination with other trading methods when backtesting to see the relative significance and price sensitivity of LTHs/LTLs compared to lower grade highs and lows.
//Settings:
-Choose Pivot lookback/lookforward bars: One setting, the basis from which all further pivot calculations are done.
-Toggle on/off 'Spikeyness' condition to filter-out weak/rounded/unimpressive pivot highs or lows (default is ON).
-Toggle on/off each of STH, MTH, LTH, STL, MTL, LTL; and choose label text-styles/colors/sizes independently.
-Set text Vertically, horizonally, or simply use 'ʌ' or 'v' symbols if you want to declutter your chart.
//Usage notes:
-Pivots take time to print (lookback bars must have elapsed before confirmation). Fractally nested pivots as here (i.e. a LTH), take even longer to print/confirm, so please be patient.
-Works across timeframes & Assets. Different timeframes may require slightly tweaked lookback/forward settings for optimal use; default is 15 bars.
Example usage with just symbolic labels short-term, med-term, long-term with 1x, 2x and 3x ʌ/v respectively:
Mark Structure ShdwMark Structure Show is building the market swing structure, minor and sub structure and marks all possible insignificant pivots
This indicator is the alternative version of Mark Structure indicator, I had to create another indicator in order to avoid programming limitation of TreadingView.
This version uses confirmation approach as confirming by body, it means every swing low/high is confirmed when the body (of newly creating swing low/high correspondingly) takes place and intercepts it. the same behaviour is with breaking structure its confirmed only by body.
From trading prospective with this kind of approach we can easily detect manipulations (caused by sweeps) and disregard those manipulation as elements which are breaking the structure. so its extremely useful for those who are trading smart money price actions and basing on swing structure POI
it supports:
- Marking all pivots with labels or join them continuously with trend lines.
- Marking minor and sub structured swings with labels or join them continuously with trend lines. Marking last actual CHoCH and BOS. Minor and substructure are structures inside swing structure and it can differ from the structure of lower timeframe
- Marking swings of swing structure with labels or join them continuously with trend lines.
- Changing bullish and bearish colors of each kind of structures
- Changing pivot labelings
- Changing colors
Remarks:
- Don't expect to have minor and sub structure in each swing waves, its totally fine when you don't have them at all
- Swing structure is the most significant structure and shows real price direction.
- The last swing is not able to be confirmed it tries to build 2 swings that most likely would be either substructure or SMS BOS
Market Structure - By LeviathanThis 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.
Gann Swing Chart [One-Bar]"Gann used three types of swings chart.
One-Bar Swing Chart (1-Bar Swing Chart): The One-Bar Swing Chart, or Minor Trend Chart, follows the one-bar movements of the market. From a low price, each time the market makes a higher-high than the previous bar, a One-Bar trend line moves up from the recent low to the new high. This action makes the previous low price a One-Bar bottom. From a high price each time the market makes a lower-low than the previous bar, a One-Bar swing line moves down from the recent high to the new low. This action makes the previous high price a One-Bar top.
The combination of One-Bar tops and bottoms forms the One-Bar trend indicator chart. The crossing of a One-Bar swing top changes the One-Bar trend to up. The penetration of a One-Bar swing bottom changes the One-Bar trend to down."
This Indicator only show Gann Swing Chart use One-Bar type.
Super OrderBlock / FVG / BoS Tools by makuchaku & eFeThis super indicator is a Swiss army knife for Smart Money traders for OrderBlocks / FVG / BoS
It provides many options for drawing (non-repainting) boxes for OrderBlocks, Fair Value Gaps (FVG) and Break of Structures. The boxes are extended into the future, until the first retest/mitigation.
Some of the additional options (not explained in the diagrams above)
PPDD OB : An order block which is formed after interacting with Liquidity (old low/high, fractal low/high, etc). Since these OB's are in the most premium or most discount, they are Premium Premium Discount Discount OB's (PPDD OB)
HVB Bars : When the volume of any bar is higher than the average volume of last N bars, it could mean something important (in the right context). Hence, the indicator allows for coloring them differently.
This indicator was built as a collaboration between @makuchaku & eFe
Pro tip : This indicator is a simply a tool to visualize trading concepts on the candle stick chart. It is the job of the trader to sequence these effectively into a profitable trade.
If you come across any bug or have a question on how to effectively use the indicator, please don't hesitate to ask questions.
Good luck & good trading!