OPEN-SOURCE SCRIPT
Atualizado Elliot's Suite
Elliot's suite. Vwap and other editable indicators.
1. How to Read the Chart
The Market Structure Engine (BOS vs. ChoCh) The script uses fractal geometry to identify swing highs and swing lows. When price closes past these historical lines, a label is printed:
BOS (Break of Structure): Indicates trend continuation. If the market is bullish and breaks a fractal high, it prints a Bullish BOS. This means the trend is healthy and continuing.
ChoCh (Change of Character): Indicates a potential reversal or shift in momentum. If the market is bullish but suddenly breaks below a recent fractal low, it prints a Bearish ChoCh. This is your early warning that the buyers are losing control.
Fractal Boundary Lines: The faint horizontal lines trailing behind the price show you exactly where the previous structural highs and lows are located.
The Algorithmic Levels
Session VWAP: The volume-weighted average price for the current day. Price above = institutional bullish bias. Price below = institutional bearish bias.
Yesterday's VWAP Close: This is a massive hidden liquidity level. Algorithms frequently target the previous day's final VWAP value as a "magnet" for mean-reversion trades.
Daily Open: The absolute baseline for the session. Crossing the daily open often triggers intraday momentum shifts.
Moving Averages (50 & 200 EMA)
Your classic macro trend filters. When the 50 EMA is above the 200 EMA, you are in a macro uptrend.
2. How to Optimize the Settings
Open the indicator settings (the gear icon on your chart). You will see distinct, collapsible groups.
Tuning the Market Structure Sensitivity The most critical settings in the script are the Fractal Left/Right Bars Lookback. This controls how sensitive the ChoCh and BOS labels are.
For Scalping (1m - 5m charts): Lower the lookback values to 2 or 3. This makes the script highly sensitive to micro-structure shifts, catching early entries.
For Swing / Intraday Trend (15m - 1H charts): Keep the values at the default 5, or raise them to 8 or 10. This filters out market noise and only flags major, significant structural breaks.
Decluttering the UI If the chart feels too busy during a volatile session (like the US Open), you don't need to delete the indicator. Just use the master toggles:
Uncheck Enable EMAs if you are trading pure price action.
Uncheck Enable Market Structure if you just want to trade mean-reversion off the VWAP bands and Daily Open.
3. Suggested Trading Workflow
Define the Bias: Look at the EMAs and current Session VWAP. Are you above or below them? Establish whether you are looking for longs or shorts.
Wait for the Setup: Let price approach a high-value level (like the Daily Open, VWAP, or Yesterday's VWAP Close).
Look for the Trigger: Do not enter blindly at a level. Wait for a ChoCh label to print in your intended direction. For example, if price taps Yesterday's VWAP Close and then prints a Bullish ChoCh, you have structural confirmation that buyers are stepping in at that algorithmic level.
Manage the Trade: Use the BOS labels to confirm you are still on the right side of the trade, and trail your stop losses behind the newly formed fractal boundary lines.
1. How to Read the Chart
The Market Structure Engine (BOS vs. ChoCh) The script uses fractal geometry to identify swing highs and swing lows. When price closes past these historical lines, a label is printed:
BOS (Break of Structure): Indicates trend continuation. If the market is bullish and breaks a fractal high, it prints a Bullish BOS. This means the trend is healthy and continuing.
ChoCh (Change of Character): Indicates a potential reversal or shift in momentum. If the market is bullish but suddenly breaks below a recent fractal low, it prints a Bearish ChoCh. This is your early warning that the buyers are losing control.
Fractal Boundary Lines: The faint horizontal lines trailing behind the price show you exactly where the previous structural highs and lows are located.
The Algorithmic Levels
Session VWAP: The volume-weighted average price for the current day. Price above = institutional bullish bias. Price below = institutional bearish bias.
Yesterday's VWAP Close: This is a massive hidden liquidity level. Algorithms frequently target the previous day's final VWAP value as a "magnet" for mean-reversion trades.
Daily Open: The absolute baseline for the session. Crossing the daily open often triggers intraday momentum shifts.
Moving Averages (50 & 200 EMA)
Your classic macro trend filters. When the 50 EMA is above the 200 EMA, you are in a macro uptrend.
2. How to Optimize the Settings
Open the indicator settings (the gear icon on your chart). You will see distinct, collapsible groups.
Tuning the Market Structure Sensitivity The most critical settings in the script are the Fractal Left/Right Bars Lookback. This controls how sensitive the ChoCh and BOS labels are.
For Scalping (1m - 5m charts): Lower the lookback values to 2 or 3. This makes the script highly sensitive to micro-structure shifts, catching early entries.
For Swing / Intraday Trend (15m - 1H charts): Keep the values at the default 5, or raise them to 8 or 10. This filters out market noise and only flags major, significant structural breaks.
Decluttering the UI If the chart feels too busy during a volatile session (like the US Open), you don't need to delete the indicator. Just use the master toggles:
Uncheck Enable EMAs if you are trading pure price action.
Uncheck Enable Market Structure if you just want to trade mean-reversion off the VWAP bands and Daily Open.
3. Suggested Trading Workflow
Define the Bias: Look at the EMAs and current Session VWAP. Are you above or below them? Establish whether you are looking for longs or shorts.
Wait for the Setup: Let price approach a high-value level (like the Daily Open, VWAP, or Yesterday's VWAP Close).
Look for the Trigger: Do not enter blindly at a level. Wait for a ChoCh label to print in your intended direction. For example, if price taps Yesterday's VWAP Close and then prints a Bullish ChoCh, you have structural confirmation that buyers are stepping in at that algorithmic level.
Manage the Trade: Use the BOS labels to confirm you are still on the right side of the trade, and trail your stop losses behind the newly formed fractal boundary lines.
Notas de Lançamento
Elliot's suite. Vwap and other editable indicators.1. How to Read the Chart
The Market Structure Engine (BOS vs. ChoCh) The script uses fractal geometry to identify swing highs and swing lows. When price closes past these historical lines, a label is printed:
BOS (Break of Structure): Indicates trend continuation. If the market is bullish and breaks a fractal high, it prints a Bullish BOS. This means the trend is healthy and continuing.
ChoCh (Change of Character): Indicates a potential reversal or shift in momentum. If the market is bullish but suddenly breaks below a recent fractal low, it prints a Bearish ChoCh. This is your early warning that the buyers are losing control.
Fractal Boundary Lines: The faint horizontal lines trailing behind the price show you exactly where the previous structural highs and lows are located.
The Algorithmic Levels
Session VWAP: The volume-weighted average price for the current day. Price above = institutional bullish bias. Price below = institutional bearish bias.
Yesterday's VWAP Close: This is a massive hidden liquidity level. Algorithms frequently target the previous day's final VWAP value as a "magnet" for mean-reversion trades.
Daily Open: The absolute baseline for the session. Crossing the daily open often triggers intraday momentum shifts.
Moving Averages (50 & 200 EMA)
Your classic macro trend filters. When the 50 EMA is above the 200 EMA, you are in a macro uptrend.
2. How to Optimize the Settings
Open the indicator settings (the gear icon on your chart). You will see distinct, collapsible groups.
Tuning the Market Structure Sensitivity The most critical settings in the script are the Fractal Left/Right Bars Lookback. This controls how sensitive the ChoCh and BOS labels are.
For Scalping (1m - 5m charts): Lower the lookback values to 2 or 3. This makes the script highly sensitive to micro-structure shifts, catching early entries.
For Swing / Intraday Trend (15m - 1H charts): Keep the values at the default 5, or raise them to 8 or 10. This filters out market noise and only flags major, significant structural breaks.
Decluttering the UI If the chart feels too busy during a volatile session (like the US Open), you don't need to delete the indicator. Just use the master toggles:
Uncheck Enable EMAs if you are trading pure price action.
Uncheck Enable Market Structure if you just want to trade mean-reversion off the VWAP bands and Daily Open.
3. Suggested Trading Workflow
Define the Bias: Look at the EMAs and current Session VWAP. Are you above or below them? Establish whether you are looking for longs or shorts.
Wait for the Setup: Let price approach a high-value level (like the Daily Open, VWAP, or Yesterday's VWAP Close).
Look for the Trigger: Do not enter blindly at a level. Wait for a ChoCh label to print in your intended direction. For example, if price taps Yesterday's VWAP Close and then prints a Bullish ChoCh, you have structural confirmation that buyers are stepping in at that algorithmic level.
Manage the Trade: Use the BOS labels to confirm you are still on the right side of the trade, and trail your stop losses behind the newly formed fractal boundary lines.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.