OPEN-SOURCE SCRIPT
Updated SMC Market Structure & MTF Levels by Capitan-Trading
Overview
The SMC Market Structure & MTF Levels is a comprehensive yet lightweight tool designed to help day traders and swing traders visualize market structure shifts, key multi-timeframe (MTF) levels, and custom trading sessions without cluttering the chart.
Underlying Logic & Features
This script is built around three core analytical modules:
1. Algorithmic Market Structure (CHoCH / BOS):
The indicator tracks market structure using a standard Pivot High / Pivot Low calculation (ta.pivothigh / ta.pivotlow). Users can define the sensitivity by adjusting the left and right lookback bars. When the price strictly closes (if 'Confirmed Only' is enabled) above the last detected pivot high, the script dynamically identifies a bullish shift (CHoCH/BOS). Conversely, a close below the last pivot low flags a bearish structural break.
2. Multi-Timeframe Levels with Staggered Visuals:
The script fetches the Previous Daily (PDH/PDL), Weekly (PWH/PWL), and Monthly (PMH/PML) highs and lows using secure request.security calls to prevent any lookahead bias. A common issue with MTF levels is overlapping labels when a Daily high coincides with a Weekly high. To solve this, the script applies a dynamic horizontal offset engine: Daily, Weekly, and Monthly lines project at different lengths into the future (e.g., +20, +28, +36 bars), ensuring all labels are perfectly readable side-by-side.
3. Session Boxes & Real-Time Dashboard:
Users can highlight up to three custom time sessions (e.g., Asian range, London Open, NY Open) with adjustable background boxes. Additionally, a minimalist, non-intrusive dashboard displays the current structural bias (Bull/Bear) and calculates the real-time percentage distance between the current price and the major MTF levels, giving traders an immediate gauge of liquidity proximity.
Usage:
Apply this tool to any timeframe to maintain a clear top-down perspective of structural shifts and major liquidity magnets.
The SMC Market Structure & MTF Levels is a comprehensive yet lightweight tool designed to help day traders and swing traders visualize market structure shifts, key multi-timeframe (MTF) levels, and custom trading sessions without cluttering the chart.
Underlying Logic & Features
This script is built around three core analytical modules:
1. Algorithmic Market Structure (CHoCH / BOS):
The indicator tracks market structure using a standard Pivot High / Pivot Low calculation (ta.pivothigh / ta.pivotlow). Users can define the sensitivity by adjusting the left and right lookback bars. When the price strictly closes (if 'Confirmed Only' is enabled) above the last detected pivot high, the script dynamically identifies a bullish shift (CHoCH/BOS). Conversely, a close below the last pivot low flags a bearish structural break.
2. Multi-Timeframe Levels with Staggered Visuals:
The script fetches the Previous Daily (PDH/PDL), Weekly (PWH/PWL), and Monthly (PMH/PML) highs and lows using secure request.security calls to prevent any lookahead bias. A common issue with MTF levels is overlapping labels when a Daily high coincides with a Weekly high. To solve this, the script applies a dynamic horizontal offset engine: Daily, Weekly, and Monthly lines project at different lengths into the future (e.g., +20, +28, +36 bars), ensuring all labels are perfectly readable side-by-side.
3. Session Boxes & Real-Time Dashboard:
Users can highlight up to three custom time sessions (e.g., Asian range, London Open, NY Open) with adjustable background boxes. Additionally, a minimalist, non-intrusive dashboard displays the current structural bias (Bull/Bear) and calculates the real-time percentage distance between the current price and the major MTF levels, giving traders an immediate gauge of liquidity proximity.
Usage:
Apply this tool to any timeframe to maintain a clear top-down perspective of structural shifts and major liquidity magnets.
Release Notes
OverviewThe SMC Market Structure & MTF Levels is a comprehensive yet lightweight tool designed to help day traders and swing traders visualize market structure shifts, key multi-timeframe (MTF) levels, and custom trading sessions without cluttering the chart.
Underlying Logic & Features
This script is built around three core analytical modules:
1. Algorithmic Market Structure (CHoCH / BOS):
The indicator tracks market structure using a standard Pivot High / Pivot Low calculation (ta.pivothigh / ta.pivotlow). Users can define the sensitivity by adjusting the left and right lookback bars. When the price strictly closes (if 'Confirmed Only' is enabled) above the last detected pivot high, the script dynamically identifies a bullish shift (CHoCH/BOS). Conversely, a close below the last pivot low flags a bearish structural break.
2. Multi-Timeframe Levels with Staggered Visuals:
The script fetches the Previous Daily (PDH/PDL), Weekly (PWH/PWL), and Monthly (PMH/PML) highs and lows using secure request.security calls to prevent any lookahead bias. A common issue with MTF levels is overlapping labels when a Daily high coincides with a Weekly high. To solve this, the script applies a dynamic horizontal offset engine: Daily, Weekly, and Monthly lines project at different lengths into the future (e.g., +20, +28, +36 bars), ensuring all labels are perfectly readable side-by-side.
3. Session Boxes & Real-Time Dashboard:
Users can highlight up to three custom time sessions (e.g., Asian range, London Open, NY Open) with adjustable background boxes. Additionally, a minimalist, non-intrusive dashboard displays the current structural bias (Bull/Bear) and calculates the real-time percentage distance between the current price and the major MTF levels, giving traders an immediate gauge of liquidity proximity.
Usage:
Apply this tool to any timeframe to maintain a clear top-down perspective of structural shifts and major liquidity magnets.
Release Notes
Updated:- Improved MTF label alignment
- Minor dashboard refinement
- Performance optimizations
Release Notes
Update Notes:Upgraded the SMC engine (CHoCH/BOS) with strict institutional logic to completely prevent repainting and false signals.
Restored and deeply optimized the Liquidity Engine (Pivot tracking, Sweeps, and Mitigation) for better performance.
Fixed minor Pine Script v6 compatibility issues to ensure maximum stability across all timeframes.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Percorso completo: Wyckoff – Smart Money – ICT
capitan-trading.com/
capitan-trading.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Percorso completo: Wyckoff – Smart Money – ICT
capitan-trading.com/
capitan-trading.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.