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[Top] BoS Fibonacci Scalping
[Top] BoS Fibonacci Retracement Scalping Tool
This indicator is an advanced market structure analysis and scalping toolkit that combines Break of Structure (BoS), Change of Character (ChoCh) detection, dynamic Fibonacci retracement levels, and a Zig Zag visualization to help traders identify actionable trading opportunities.
How It Works
1. Market Structure Detection (BoS & ChoCh)
Pivots and Order Blocks:
The script automatically detects major and minor swing highs and lows (pivot points) using configurable pivot periods.
Break of Structure (BoS):
When price crosses a key structural level in the prevailing trend direction, a BoS event is marked.
Change of Character (ChoCh):
When price crosses a key level in the opposite direction of the previous trend, a ChoCh event is flagged, signaling a possible trend reversal.
Each event draws labeled horizontal lines and optional labels on the chart.
2. Fibonacci Retracement Engine
After a BoS, the indicator waits for a retracement (configurable by number of bars or conditions).
It then plots Fibonacci retracement levels (0.0, 0.5, 0.618, 1.0) between the last significant swing and the breakout level.
A colored "Golden Zone" (50–61.8%) is highlighted to assist in identifying potential pullback entries.
3. Zig Zag Visual
An optional Zig Zag line shows the evolving swing structure and helps clarify major and minor highs and lows.
4. Potential BoS Levels
When no retracement is active, the indicator can display dotted "Potential BoS" lines above/below price to alert you to possible upcoming breakouts.
Inputs and Customization
You can configure:
How to Use
Identify Trend & Structure:
Watch for BoS or ChoCh lines and labels to confirm trend continuation or reversal.
Plan Pullbacks:
After a BoS, wait for a retracement into the Fibonacci Golden Zone.
Use the zone and retracement lines as reference for entries and risk management.
Combine with Other Confirmation:
This script works best when combined with volume, momentum, or price action signals.
Scalping and Swing Use:
Short-term traders can use it on intraday timeframes, while swing traders can apply it to higher timeframes for structural analysis.
What Makes It Unique
Unlike simpler BoS indicators, this script:
This indicator is an advanced market structure analysis and scalping toolkit that combines Break of Structure (BoS), Change of Character (ChoCh) detection, dynamic Fibonacci retracement levels, and a Zig Zag visualization to help traders identify actionable trading opportunities.
How It Works
1. Market Structure Detection (BoS & ChoCh)
Pivots and Order Blocks:
The script automatically detects major and minor swing highs and lows (pivot points) using configurable pivot periods.
Break of Structure (BoS):
When price crosses a key structural level in the prevailing trend direction, a BoS event is marked.
Change of Character (ChoCh):
When price crosses a key level in the opposite direction of the previous trend, a ChoCh event is flagged, signaling a possible trend reversal.
Each event draws labeled horizontal lines and optional labels on the chart.
2. Fibonacci Retracement Engine
After a BoS, the indicator waits for a retracement (configurable by number of bars or conditions).
It then plots Fibonacci retracement levels (0.0, 0.5, 0.618, 1.0) between the last significant swing and the breakout level.
A colored "Golden Zone" (50–61.8%) is highlighted to assist in identifying potential pullback entries.
3. Zig Zag Visual
An optional Zig Zag line shows the evolving swing structure and helps clarify major and minor highs and lows.
4. Potential BoS Levels
When no retracement is active, the indicator can display dotted "Potential BoS" lines above/below price to alert you to possible upcoming breakouts.
Inputs and Customization
You can configure:
- Pivot Periods: Separate lengths for order block and Fibonacci detection.
- Retracement Settings: Number of bars defining a retracement and how long to wait for it.
- Drawing Extensions: How many bars to extend lines forward.
- Labels and Colors: Toggle labels, adjust colors and line styles for each structural level.
- Major and Minor BoS/ChoCh Levels: Show or hide specific types of structure lines (bullish/bearish, major/minor).
How to Use
Identify Trend & Structure:
Watch for BoS or ChoCh lines and labels to confirm trend continuation or reversal.
Plan Pullbacks:
After a BoS, wait for a retracement into the Fibonacci Golden Zone.
Use the zone and retracement lines as reference for entries and risk management.
Combine with Other Confirmation:
This script works best when combined with volume, momentum, or price action signals.
Scalping and Swing Use:
Short-term traders can use it on intraday timeframes, while swing traders can apply it to higher timeframes for structural analysis.
What Makes It Unique
Unlike simpler BoS indicators, this script:
- Distinguishes between major and minor structural breaks.
- Automatically manages retracement logic and invalidation.
- Visualizes structure dynamically in real time.
- Includes extensive customization of visual elements to suit different trading styles.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.