LuxAlgo

Market Structure (Intrabar) [LuxAlgo]

The Market Structure (Intrabar) indicator is designed to automatically detect and highlight real-time intrabar market structures, a core component of the Smart Money Concepts methodology.

πŸ”Ά USAGE


The proposed indicator gives a detailed picture of the most recent candle lower timeframe trends, highlighting market structures within them.

This can be particularly useful to assess the price dynamic within the most recent candle. For example, we can see how pronounced a trend is by the number of opposite bullish/bearish market structures formed within the candle.

Users can select the intrabar timeframe of interest from the "Intrabar Timeframe" setting, using a timeframe significantly lower than the chart timeframe will return more intrabar candles and potentially more market structures.

πŸ”Ή Dashboard


Users have access to a dashboard returning useful statistics such as the number of formed CHoCH's and BOS's from the intrabar prices. These can be indicative of how predominant a trend is within the intrabar data or if there exist multiple trends.

πŸ”Ά DETAILS


Market structures allow determining trend continuations as well as trend reversals in the market through two distinct structures:

πŸ”Ή Change of Character (CHoCH)

A change of character (CHoCH) refers to a shift in the market behavior of a security that is driven by changes in the underlying supply and demand dynamics. CHoCH's are indicative of confirmed reversals.

πŸ”Ή Break of Structure (BoS)

The break of structure (BoS) refers to the point at which a key level of support or resistance is broken. BOS's are indicative of confirmed trend continuations.

πŸ”Ά SETTINGS

πŸ”ΉInside the Bar Market Structure

  • Intrabar Timeframe: Lower timeframe setting option, if set to 'Auto' the script will determine the lower timeframe based on the chart timeframe.
  • Intrabar Market Structure, Length: Toggles the visibility of the break of structures and change of characters. Length defines the detection length of the swing levels.
  • Intrabar Swing Levels: Toggles the visibility of the swing levels, including a color customization option for highs and lows.
  • Intrabar Statistics: Toggles the visibility of the dashboard. Some further statistical details are presented in the tooltips of the table cells

πŸ”Ή General

  • Market Structure Colors: Color customization option for the break of structure and change of character lines and labels.
  • Intrabar Candle Colors: Color customization option for intrabar candles.
  • Intrabar Candles Horizontal Offset: Adjusting the intrabar candles horizontal position
  • Dashboard: Dashboard position and size customization option

πŸ”Ά LIMITATIONS

Please note that seconds-based intervals are available for premium and professional plan holders, which implies that the seconds-based intervals usage of the indicator may not be available for all users depending on their subscription plan.

πŸ”Ά RELATED SCRIPTS

Smart-Money-Concepts
ICT-Concepts

Get access to our exclusive tools: luxalgo.com

Join our 150k+ community: discord.gg/lux

All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Dalaman. Anda boleh menyukainya untuk menggunakannya pada carta.

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.

Ingin menggunakan skrip ini pada carta?