OPEN-SOURCE SCRIPT
CHoCH Setup
CHoCH Setup is a comprehensive multi-timeframe analysis tool designed to identify structural shifts, validate them with volume and momentum, and highlight high-probability Fair Value Gap (FVG) entries.
Multi-Timeframe (MTF) Alignment: Evaluates a Higher Timeframe (HTF) directional bias to ensure your current timeframe trades align with the macro trend.
Volume Point of Control (POC): Dynamically calculates the high-volume node of recent periods. Breaks through the POC indicate strength.
BLVL (Break Level) CHoCH & BOS: Identifies structural market shifts. A CHoCH (Change of Character) triggers the drawing of the main setup box.
Volume Profile Inside CHoCH Box: Visualizes the volume intensity directly within the CHoCH box to validate the momentum of the breakout.
RSI Tracking Polyline: Tracks the RSI behavior historically to identify if the setup occurred in overbought/oversold conditions or if there is momentum divergence.
FVG Engine: Highlights bullish and bearish Fair Value Gaps. It can optionally filter for "bounces" or mitigations where price taps into the FVG after a structural break.
CHoCH Fibonacci Zones & Targets: Automatically plots a Buy/Sell mitigation zone (0.382 - 0.618) and extended target levels (1.47, 1.55, 2.56, 2.6, 2.68) for taking profit.
HUD Dashboard: Provides a real-time summary of the HTF Bias, Current TF Bias, POC Trap State, and the strength of the current CHoCH.
🎯 Identifying an "A+ Setup"
An A+ setup occurs when multiple confluences align simultaneously. Look for the following conditions on your dashboard and chart:
Timeframe Alignment: Both HTF Bias and Current TF Bias are pointing in the same direction.
Strong CHoCH Signal: A CHoCH break happens in the direction of the HTF Bias, backed by above-average volume (indicated by thick volume columns inside the CHoCH box).
POC Confirmation: Price breaks and holds beyond the POC level, avoiding a "Trap" state (e.g., a "Strong Bullish" state on the dashboard).
FVG Creation: The impulse move that caused the CHoCH leaves behind a Fair Value Gap.
Entry Execution: Price pulls back into the CHoCH Fibo Zone (0.382 - 0.618) and taps the FVG. This is the optimal entry zone targeting the extended Fibo levels (1.47+).
🔔 Alerts
The script includes built-in alert conditions tailored for this setup:
Bullish CHoCH Direction FVG Formed!: Triggers when a new bullish FVG forms immediately following a Bullish CHoCH.
Bearish CHoCH Direction FVG Formed!: Triggers when a new bearish FVG forms immediately following a Bearish CHoCH.
(To set these up: Create an alert on TradingView, select the indicator, and choose "Any alert() function call".)
⚠️ Disclaimer
This script is provided for educational and informational purposes only. It does not constitute financial or trading advice. Trading in financial markets involves a high degree of risk, and past performance of any indicator or setup is not indicative of future results. Always backtest strategies thoroughly and use proper risk management.*
Multi-Timeframe (MTF) Alignment: Evaluates a Higher Timeframe (HTF) directional bias to ensure your current timeframe trades align with the macro trend.
Volume Point of Control (POC): Dynamically calculates the high-volume node of recent periods. Breaks through the POC indicate strength.
BLVL (Break Level) CHoCH & BOS: Identifies structural market shifts. A CHoCH (Change of Character) triggers the drawing of the main setup box.
Volume Profile Inside CHoCH Box: Visualizes the volume intensity directly within the CHoCH box to validate the momentum of the breakout.
RSI Tracking Polyline: Tracks the RSI behavior historically to identify if the setup occurred in overbought/oversold conditions or if there is momentum divergence.
FVG Engine: Highlights bullish and bearish Fair Value Gaps. It can optionally filter for "bounces" or mitigations where price taps into the FVG after a structural break.
CHoCH Fibonacci Zones & Targets: Automatically plots a Buy/Sell mitigation zone (0.382 - 0.618) and extended target levels (1.47, 1.55, 2.56, 2.6, 2.68) for taking profit.
HUD Dashboard: Provides a real-time summary of the HTF Bias, Current TF Bias, POC Trap State, and the strength of the current CHoCH.
🎯 Identifying an "A+ Setup"
An A+ setup occurs when multiple confluences align simultaneously. Look for the following conditions on your dashboard and chart:
Timeframe Alignment: Both HTF Bias and Current TF Bias are pointing in the same direction.
Strong CHoCH Signal: A CHoCH break happens in the direction of the HTF Bias, backed by above-average volume (indicated by thick volume columns inside the CHoCH box).
POC Confirmation: Price breaks and holds beyond the POC level, avoiding a "Trap" state (e.g., a "Strong Bullish" state on the dashboard).
FVG Creation: The impulse move that caused the CHoCH leaves behind a Fair Value Gap.
Entry Execution: Price pulls back into the CHoCH Fibo Zone (0.382 - 0.618) and taps the FVG. This is the optimal entry zone targeting the extended Fibo levels (1.47+).
🔔 Alerts
The script includes built-in alert conditions tailored for this setup:
Bullish CHoCH Direction FVG Formed!: Triggers when a new bullish FVG forms immediately following a Bullish CHoCH.
Bearish CHoCH Direction FVG Formed!: Triggers when a new bearish FVG forms immediately following a Bearish CHoCH.
(To set these up: Create an alert on TradingView, select the indicator, and choose "Any alert() function call".)
⚠️ Disclaimer
This script is provided for educational and informational purposes only. It does not constitute financial or trading advice. Trading in financial markets involves a high degree of risk, and past performance of any indicator or setup is not indicative of future results. Always backtest strategies thoroughly and use proper risk management.*
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.