OPEN-SOURCE SCRIPT
Alea Magna Traders choch, bos
This script is a lightweight, custom-built Smart Money Concepts (SMC) Market Structure Indicator written in Pine Script v6 for TradingView.
It tracks real-time market structure shifts on your chart by identifying and plotting two core price action events: CHoCH (Change of Character) and BoS (Break of Structure).
Core Mechanics & Features
Dual-Timeframe/Sensitivity Structure Tracking:
Internal Structure (Micro): Tracks fast, short-term structural breaks using a smaller pivot sensitivity (default: 5). Ideal for finding lower-timeframe entries.
External Structure (Macro): Tracks major, high-timeframe structural pivots using a higher sensitivity (default: 25). Ideal for determining overall trend direction.
Market Structure Mapping:
CHoCH (Change of Character): Detects when price breaks the previous structure in the opposite direction of the current trend, signaling a potential trend reversal.
BoS (Break of Structure): Detects when price breaks structure in the same direction as the current trend, signaling trend continuation.
Clean Visual Overlay:
Draws horizontal dashed lines connecting the original pivot level to the breakout point.
Places color-coded labels (Bullish / Bearish) directly above or below the breakout candle.
Advanced Data Management:
Uses Pine Script v6 map.new() data structures to dynamically track swing high/low coordinates (upaxis, dnaxis, direction states) without lagging the chart.
Employs custom array slicing to calculate swing highs and lows independently.
Customizability & Filtering:
Allows traders to toggle Internal and External structures on or off independently.
Includes pattern filters to show All, BoS-only, or CHoCH-only markers.
Full control over Bullish and Bearish colors.
It tracks real-time market structure shifts on your chart by identifying and plotting two core price action events: CHoCH (Change of Character) and BoS (Break of Structure).
Core Mechanics & Features
Dual-Timeframe/Sensitivity Structure Tracking:
Internal Structure (Micro): Tracks fast, short-term structural breaks using a smaller pivot sensitivity (default: 5). Ideal for finding lower-timeframe entries.
External Structure (Macro): Tracks major, high-timeframe structural pivots using a higher sensitivity (default: 25). Ideal for determining overall trend direction.
Market Structure Mapping:
CHoCH (Change of Character): Detects when price breaks the previous structure in the opposite direction of the current trend, signaling a potential trend reversal.
BoS (Break of Structure): Detects when price breaks structure in the same direction as the current trend, signaling trend continuation.
Clean Visual Overlay:
Draws horizontal dashed lines connecting the original pivot level to the breakout point.
Places color-coded labels (Bullish / Bearish) directly above or below the breakout candle.
Advanced Data Management:
Uses Pine Script v6 map.new() data structures to dynamically track swing high/low coordinates (upaxis, dnaxis, direction states) without lagging the chart.
Employs custom array slicing to calculate swing highs and lows independently.
Customizability & Filtering:
Allows traders to toggle Internal and External structures on or off independently.
Includes pattern filters to show All, BoS-only, or CHoCH-only markers.
Full control over Bullish and Bearish colors.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。