OPEN-SOURCE SCRIPT
SMC Ultimate Shift
Key Functionality
Swing Identification: It uses a 3-bar swing pattern to detect potential turning points in market structure.
Structural Validation (Inducement): To reduce false signals, the indicator requires a "sweep" of structural liquidity (the most recent high or low) before it accepts a shift as valid.
Global Invalidation Logic: It includes a user-defined price level for invalidation. If the price breaches this level and stays there for more than one hour, the indicator automatically disables itself, protecting you from trading in a broken market context.
Visual States:
Pending Shift (Dashed line): Indicates that the necessary structural conditions are met, but the final confirmation (a body break) has not yet occurred.
Confirmed Shift (Solid line): Signals that the market has successfully broken the level, confirming the structural shift.
Swing Identification: It uses a 3-bar swing pattern to detect potential turning points in market structure.
Structural Validation (Inducement): To reduce false signals, the indicator requires a "sweep" of structural liquidity (the most recent high or low) before it accepts a shift as valid.
Global Invalidation Logic: It includes a user-defined price level for invalidation. If the price breaches this level and stays there for more than one hour, the indicator automatically disables itself, protecting you from trading in a broken market context.
Visual States:
Pending Shift (Dashed line): Indicates that the necessary structural conditions are met, but the final confirmation (a body break) has not yet occurred.
Confirmed Shift (Solid line): Signals that the market has successfully broken the level, confirming the structural shift.
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.
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.
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.