myZones [eFe]

myZones [eFe]

This indicator is designed for traders utilizing Smart Money Concepts (SMC) and Price Action, focusing on the precise validation of market structure. Unlike standard pivot indicators that look at neighboring bars, myZones uses a logic based on "Inducement" or "Candle Validation".

🟢 Concept: Valid Highs & Lows
The core of this indicator is how it defines a structural point:

• Valid High: A high is only valid (confirmed) when a subsequent candle closes below the low of the specific candle that made that high.
  
• Valid Low: A low is only valid (confirmed) when a subsequent candle closes above the high of the specific candle that made that low.
  

This method helps filter out noise and identifies true structural points that the market has committed to.

🔵 Features

1. Structural Markers

• Visualizes confirmed Tops (Valid Highs) and Bottoms (Valid Lows) with customizable icons (Triangles, Circles, Diamonds, etc.).
  

2. Break of Structure (BOS) / MSS Zones

• When price breaks a Valid High, a Bullish Structure Break occurs.
  
• When price breaks a Valid Low, a Bearish Structure Break occurs.
  
• Zones: The indicator draws a visual "Zone" connecting the broken structure level to the candle that broke it.
  
  • Zone 1: Usually indicates the first break (Market Structure Shift / MSS) signaling a potential reversal.
    
  • Zone 2+: Indicates trend continuation (BOS).
    

3. Real-Time Validation Line

• A dashed line tracks the current "Candidate" High or Low level.
  
• It shows you exactly where the candle needs to close to confirm the current structure point.
  

⚙️ Settings

• Valid Highs & Lows: Customize marker style, size, and colors.
  
• Validation Line: Toggle the visual aid for pending structure validation.
  
• Zones:
  
  • Show Lines: Dropdown to select "None", "Zone 1 (MSS)", or "All (MSS + BoS)".
    
  • Zone Fills: Separate dropdowns for Bullish and Bearish fills. Use this to create a unique setup—for instance, show all Bullish zones to track a sub-trend, but only show Zone 1 for Bearish zones to spot major reversals.
    
  • Colors: Fully adjustable transparency and colors.
    

Usage Tip:
Use "Zone 1" fills to easily spot potential reversals (MSS), and use the Validation Line to anticipate when a new structural point is about to be confirmed in real-time.