This overlay indicator detects market structure on the price chart with two layers at once: internal structure on a five-bar leg and swing structure with a configurable length.
1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
378 lines of Pine Script v6 from indicators/bos-choch-structure.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
BOS & CHoCH [AFTHAB] labels break of structure and change of character. After a break of structure, a change of character appears only when price retraces beyond a Fibonacci correction of the impulse, default 0.382. Users can filter bullish or bearish labels, apply a confluence filter, show strong and weak highs and lows, color candles by internal trend, and switch between historical and present modes. It does not place trades.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Mode
string
Historical
modeInput
Color Candles by Trend
bool
false
showTrend
Max Historical Bars
int
400
maxBars
Show Internal Structure
bool
true
showInternal
Bullish
string
All
showIntBull
intBullCol
color
#089981
intBullCol
Bearish
string
All
showIntBear
intBearCol
color
#f23645
intBearCol
Confluence Filter
bool
false
intConfluence
Label Size
string
Tiny
intLblSz
Show Swing Structure
bool
true
showSwing
Bullish
string
All
showSwgBull
Show all 24 settings
Setting
Type
Default
Variable
swgBullCol
color
#089981
swgBullCol
Bearish
string
All
showSwgBear
swgBearCol
color
#f23645
swgBearCol
Label Size
string
Small
swgLblSz
Show Swing Points
bool
false
showSwgPts
swgLength
int
50
swgLength
Show Strong/Weak High/Low
bool
true
showHLSwings
Correction Level (Fib)
float
0.382
corrFactor
Correction Line Style
string
Dashed
corrLnStyle
Correction Line Width
int
1
corrLnWidth
Bull Correction
color
color.new(#089981, 40)
corrBullCol
Bear Correction
color
color.new(#f23645, 40)
corrBearCol
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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