CandelaCharts - Smart Money Concepts Go (SMC Go) 📝 Overview
Discover the Smart Money Concepts GO (SMC GO) Indicator – the ultimate tool for mastering advanced price action strategies. This all-in-one solution simplifies trading by providing real-time Market Structure analysis, including Internal and Swing BOS/CHoCH, Order Blocks (OB), Premium and Discount Zones (PD), and the identification of Equal Highs and Lows. With SMC GO, traders can automatically annotate their charts with widely recognized price action techniques, gaining unparalleled insights into market behavior.
What is Smart Money Concepts GO (SMC GO)?
Smart Money Concepts (SMC) is a revolutionary approach to price action trading, focusing on liquidity and identifying optimal zones for trading decisions. By pinpointing areas where institutional traders are likely placing buy or sell orders (buy-side and sell-side liquidity), SMC empowers traders to make informed, strategic entries and exits. Whether you're a novice or a seasoned trader, adopting SMC strategies can refine your understanding of market liquidity and elevate your trading performance.
Enhance your trading edge today with the Smart Money Concepts GO indicator – your gateway to precision and success in the financial markets!
📦 Features
This script is packed with a wide range of features rooted in Price Action principles, as outlined below:
Market Structure: (BOS, CHoCH, CHoCH+) (Internal & Swing) multi-timeframe. Candle Coloring based on market structure.
Order Blocks: Order Blocks (OB), Swing Order Blocks (SOB). Multi-Timeframe support with various mitigation methods.
Fair Value Gaps: Fair Value Gaps (FVG), Opening Gaps (OG). MTF w/ multiple mitigation methods.
Premium & Discount: Strong/Weak Highs & Lows w/ volume percentages.
Highs & Lows MTF: Previous Highs/Lows (Daily, Monday's, Weekly, Monthly, Quarterly, Yearly).
Scanner: Multi-Timeframe Dashboard (5m, 15m, 30m, 1H, 4H, 1D).
⚙️ Settings
Market Structure
Show Market Structure: Display Market Structure
Swing Points: Show Swing Points. Customization options available.
Swing: Shows Swing Market Strucuture with configuration options
Internal: Shows Internal Market Strucuture with configuration options
Mode: Control Market Strucure detection mode
Plot Candle: Candle coloring based on trend bias
Bar Color: Bar coloring based on trend bias
Order Blocks
Show: Controls whether Blocks are displayed on the chart.
Show Last: Sets the number of Blocks you want to display.
Length: Determines the length detection of each Block Type.
Mitigation: Highlights when an Block has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect Block. This is MTF functionality.
Mode: Sets the available options available for Blocks detection.
Filtering: Filter Blocks by CHoCH or BOS.
Positioning: Position Blocks based on various options like Full, Middle, Accurate and Precise.
Buy/Sell activity: Display volume bullish/bearish activity for each Block.
Show metrics: Display volume metrics on the Block.
Show Mid-Line: Configures the midpoint line's width and style within the Block. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the Block.
Hide Overlap: Removes overlapping Blocks from view.
Grayscale: Display gray color on all Blocks no matter the bias.
Fair Value Gaps
Show: Controls whether Imbalances are displayed on the chart.
Show Last: Sets the number of Imbalances you want to display.
Length: Determines the length of each Imbalance.
Mitigation: Highlights when an Imbalance has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect Imbalances.
Threshold: Sets the minimum gap size required for Imbalance detection on the chart.
Show Mid-Line: Configures the midpoint line's width and style within the Imbalance. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the Imbalance.
Hide Overlap: Removes overlapping Imbalances from view.
Extend: Extends the Imbalance length to the current candle.
Elongate: Fully extends the Imbalance length to the right side of the chart.
Premium & Discount
Show Premium & Discount: Show Premium & Discount zones
Show Equilibrium: Show Equilibrium zone
Show Strong/Weak & High/Low: Show Strong/Weak & High/Low on the chart
Mode: Control displaying mode of Premium & Discount
Highs & Lows MTF
Day: Display PDH/PDL
Week: Display PWH/PWL
Month: Display PMH/PML
Quaterly: Display PQH/PQL
Yearly: Display PYH/PYL
Scanner
Scanner: Show Scanner and adjust his position
⚡️ Showcase
Market Structure
CHoCH & BOS
EQH/L
Candle Coloring
Order Blocks
Volumetric Order Blocks
Swing Volumetric Order Blocks
Fair Value Gaps
Fair Value Gaps (FVG)
Opening Gaps (OG)
Premium & Discount
Premium/Equilibrium/Discount
Strong/Weak & High/Low
Highs & Lows MTF
Scanner
📒 Usage
In the following example, the price exhibits a decisive rejection from a Bearish Order Block, highlighting a potential reversal point in the market. This rejection is further validated by the sweep of the Previous Day's High (PDH), which acts as additional confluence and reinforces the bearish bias. Such a setup indicates a high-probability trade opportunity for traders who recognize the alignment of these key price action elements.
To capitalize on this scenario, you could wait for the price to retrace into the Breaker Block—a commonly used zone of interest in Smart Money Concepts. Entering a short position at this retracement point allows for a strategically favorable risk-to-reward ratio. In this case, the Previous Day's Low (PDL) serves as a logical target for taking profits, especially given the relatively small range, which ensures a measured and tactical approach to trade execution.
By combining multiple layers of confluence—such as the Bearish Order Block rejection, the PDH sweep, and the Breaker Block retracement—you can develop a more comprehensive understanding of market dynamics and increase the likelihood of a successful trade outcome.
Smart Money Concepts GO (SMC GO) is a versatile indicator that can be applied to a wide range of market conditions and setups. Whether you're analyzing price action in trending, consolidating, or reversal scenarios, SMC offers powerful tools for identifying key zones of liquidity, institutional order flow, and high-probability trade opportunities. Its adaptability allows traders to refine their approach across various timeframes and asset classes, making it a valuable technique for both novice and experienced traders alike.
🚨 Alerts
The indicator provides the ability to set alerts for various significant market events related to its core features.
You can configure alerts for the following key events:
Change of Character (CHoCH) +B/-B
Break of Structure (BOS) +B/-B
Order Block Formation (+B/-B)
Swing Order Block Formation (+B/-B)
Fair Value Gaps Formation (+B/-B)
Opening Gaps Formation (+B/-B)
Equal Highs/Lows (EQH/EQL) +B/-B
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
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CandelaCharts - Smart Money Concepts Go (SMC Go) 📝 Overview
Discover the Smart Money Concepts GO (SMC GO) Indicator – the ultimate tool for mastering advanced price action strategies. This all-in-one solution simplifies trading by providing real-time Market Structure analysis, including Internal and Swing BOS/CHoCH, Order Blocks (OB), Premium and Discount Zones (PD), and the identification of Equal Highs and Lows. With SMC GO, traders can automatically annotate their charts with widely recognized price action techniques, gaining unparalleled insights into market behavior.
What is Smart Money Concepts GO (SMC GO)?
Smart Money Concepts (SMC) is a revolutionary approach to price action trading, focusing on liquidity and identifying optimal zones for trading decisions. By pinpointing areas where institutional traders are likely placing buy or sell orders (buy-side and sell-side liquidity), SMC empowers traders to make informed, strategic entries and exits. Whether you're a novice or a seasoned trader, adopting SMC strategies can refine your understanding of market liquidity and elevate your trading performance.
Enhance your trading edge today with the Smart Money Concepts GO indicator – your gateway to precision and success in the financial markets!
📦 Features
This script is packed with a wide range of features rooted in Price Action principles, as outlined below:
Market Structure: (BOS, CHoCH, CHoCH+) (Internal & Swing) multi-timeframe. Candle Coloring based on market structure.
Order Blocks: Order Blocks (OB), Swing Order Blocks (SOB). Multi-Timeframe support with various mitigation methods.
Fair Value Gaps: Fair Value Gaps (FVG), Opening Gaps (OG). MTF w/ multiple mitigation methods.
Premium & Discount: Strong/Weak Highs & Lows w/ volume percentages.
Highs & Lows MTF: Previous Highs/Lows (Daily, Monday's, Weekly, Monthly, Quarterly, Yearly).
Scanner: Multi-Timeframe Dashboard (5m, 15m, 30m, 1H, 4H, 1D).
⚙️ Settings
Market Structure
Show Market Structure: Display Market Structure
Swing Points: Show Swing Points. Customization options available.
Swing: Shows Swing Market Strucuture with configuration options
Internal: Shows Internal Market Strucuture with configuration options
Mode: Control Market Strucure detection mode
Plot Candle: Candle coloring based on trend bias
Bar Color: Bar coloring based on trend bias
Order Blocks
Show: Controls whether Blocks are displayed on the chart.
Show Last: Sets the number of Blocks you want to display.
Length: Determines the length detection of each Block Type.
Mitigation: Highlights when an Block has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect Block. This is MTF functionality.
Mode: Sets the available options available for Blocks detection.
Filtering: Filter Blocks by CHoCH or BOS.
Positioning: Position Blocks based on various options like Full, Middle, Accurate and Precise.
Buy/Sell activity: Display volume bullish/bearish activity for each Block.
Show metrics: Display volume metrics on the Block.
Show Mid-Line: Configures the midpoint line's width and style within the Block. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the Block.
Hide Overlap: Removes overlapping Blocks from view.
Grayscale: Display gray color on all Blocks no matter the bias.
Fair Value Gaps
Show: Controls whether Imbalances are displayed on the chart.
Show Last: Sets the number of Imbalances you want to display.
Length: Determines the length of each Imbalance.
Mitigation: Highlights when an Imbalance has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect Imbalances.
Threshold: Sets the minimum gap size required for Imbalance detection on the chart.
Show Mid-Line: Configures the midpoint line's width and style within the Imbalance. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the Imbalance.
Hide Overlap: Removes overlapping Imbalances from view.
Extend: Extends the Imbalance length to the current candle.
Elongate: Fully extends the Imbalance length to the right side of the chart.
Premium & Discount
Show Premium & Discount: Show Premium & Discount zones
Show Equilibrium: Show Equilibrium zone
Show Strong/Weak & High/Low: Show Strong/Weak & High/Low on the chart
Mode: Control displaying mode of Premium & Discount
Highs & Lows MTF
Day: Display PDH/PDL
Week: Display PWH/PWL
Month: Display PMH/PML
Quaterly: Display PQH/PQL
Yearly: Display PYH/PYL
Scanner
Scanner: Show Scanner and adjust his position
⚡️ Showcase
Market Structure
CHoCH & BOS
EQH/L
Candle Coloring
Order Blocks
Volumetric Order Blocks
Swing Volumetric Order Blocks
Fair Value Gaps
Fair Value Gaps (FVG)
Opening Gaps (OG)
Premium & Discount
Premium/Equilibrium/Discount
Strong/Weak & High/Low
Highs & Lows MTF
Scanner
📒 Usage
In the following example, the price exhibits a decisive rejection from a Bearish Order Block, highlighting a potential reversal point in the market. This rejection is further validated by the sweep of the Previous Day's High (PDH), which acts as additional confluence and reinforces the bearish bias. Such a setup indicates a high-probability trade opportunity for traders who recognize the alignment of these key price action elements.
To capitalize on this scenario, you could wait for the price to retrace into the Breaker Block—a commonly used zone of interest in Smart Money Concepts. Entering a short position at this retracement point allows for a strategically favorable risk-to-reward ratio. In this case, the Previous Day's Low (PDL) serves as a logical target for taking profits, especially given the relatively small range, which ensures a measured and tactical approach to trade execution.
By combining multiple layers of confluence—such as the Bearish Order Block rejection, the PDH sweep, and the Breaker Block retracement—you can develop a more comprehensive understanding of market dynamics and increase the likelihood of a successful trade outcome.
Smart Money Concepts GO (SMC GO) is a versatile indicator that can be applied to a wide range of market conditions and setups. Whether you're analyzing price action in trending, consolidating, or reversal scenarios, SMC offers powerful tools for identifying key zones of liquidity, institutional order flow, and high-probability trade opportunities. Its adaptability allows traders to refine their approach across various timeframes and asset classes, making it a valuable technique for both novice and experienced traders alike.
🚨 Alerts
The indicator provides the ability to set alerts for various significant market events related to its core features.
You can configure alerts for the following key events:
Change of Character (CHoCH) +B/-B
Break of Structure (BOS) +B/-B
Order Block Formation (+B/-B)
Swing Order Block Formation (+B/-B)
Fair Value Gaps Formation (+B/-B)
Opening Gaps Formation (+B/-B)
Equal Highs/Lows (EQH/EQL) +B/-B
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
EMA Wave and GRaB Candles by JustUncleLThis is a specialised Price Action Channel (PAC) or Wave that mirrors the indicator used by Raghee Horner, the "34EMA Wave and GRaB Candles".
The Wave consist of:
34 period exponential moving average on the high
34 period exponential moving average on the close
34 period exponential moving average on the low
The GRaB candles colour scheme:
Lime = Bull candle closed above Wave
Green = Bear candle closed above Wave
Red = Bull candle closed below Wave
DarkRed = Bear candle closed below Wave
Aqua = Bull candle closed inside Wave
Blue = Bear candle closed inside Wave
Optionally display a trend direction indication along bottom of chart.
References:
For some details on how Raghee uses this indicator check out this:
www.forexfactory.com
Also her various training and webinar videos on Youtube
Note: This code is licensed under open source GPLv3 terms and conditions. Any modifications to it should be made public and linked to the original code.
Traders Dynamic Index Indicator Alert v0.1 by JustUncleLThis is a trend trading indicator+alert utilising the Traders Dynamic Index (TDI), Price Action Channel (PAC) and Heikin Ashi candles.
About 6months ago I came across the use of TDI in "E.A.S.Y. Method" that I found in forexfactory forums: www.forexfactory.com
and I was able to set up a chart based on the specifications by using Kurbelklaus scripts. However, I found that the alerts were being generated one or two bars too late, so at that time I was not successful using it with Binary Options. A few months later I found a variation of the method in the forecfactory forums which is able to generate the alerts a bit earlier, so this indicator is a modification of that early detection version.
The indicator can optionally use Heikin Ashi candles only for all it's calculation. I would recommend viewing the chart with Heikin Ashi candles, these smooth out the trends and makes trends very clear.
I found that this method it works good with most currency pairs or commodities and with 5min+ timeframe charts. I would suggest expiry of 2 to 6 candles.
ALERT GENERATION:
=================
The TDI (Traders Dynamic Index)
---------------------------------------------
Volatility Band VB(34), color: Blue, buffer: UpZone, DnZone
Relative Strength Index RSI(13)
RSI PRICE LINE (2), color: Green, buffer: mab
RSI TRADE SIGNAL LINE (7), color: Red, buffer: mbb
MARKET BASE LINE MID VB(34), color: Orange, buffer: mid
Indicator SignalLevels:
-------------------------------
RSI_OversoldLevel : 22 (normally: 32)
RSI_OverboughtLevel : 78 (normally: 68)
Alert Conditions:
-----------------------
Strong Buy : yellow
Medium Buy : aqua
Weak Buy : blue
Strong Sell : fuchsia
Medium Sell : purple
Weak Sell : black
Hints on How to use:
----------------------------
- When a Medium or Strong alert is generated and MACD histogram colour matches the direction
of the alert (optional auto filter), then place trade in direction of alert candle and MACD.
- I use the multi-Hull MA's for overall trend direction confirmation.
- Best positions normally occur near the MACD(5,15,1) Histogram crossing the zero line.
- The optional coloured Dots along the bottom of the indicator represent the first alert
of this type that was generated in this sequence.
- It is advisable to trade in the direction of the main trend as indicated the HULL MA red cloud:
if red cloud underneath PAC then BULLISH trend, if red cloud above PAC then BEARISH trend.
- Selecting the HeiKin Ashi candles does affect the MACD and MA caculations, so if you select
normal candles the result chart will change. You can still Optionally select to use Heikin Ashi
for calculations.
- When using the Heikin Ashi candles, a good buy entry is indicated by long top wick and no bottom wick
for bull (green) candles and good sell entry is indicated by long bottom wick and no top wick for
bear (red) candles.
- When the MACD histogram is flat and close to zero line,
this indicates a ranging market, do NOT trade when this occurs.
- When the PAC channel on the main chart is spread apart widely, this is an indication
of extreme volatility and choppy chart, do NOT try to trade during these periods.
A choppy chart is also indicated by Heikin Ashi candles with long wicks on both sides
of the candles.
- You can specify what strength level Alerts are generated (default 2):
Level (1) means only generate Strong Alerts only.
Level (2) means generate Strong and Medium Alerts.
Level (3) means generate Strong, Medium and Weak Alerts.
