OPEN-SOURCE SCRIPT
SMC CHOCH BOS Dual Structure + Candle Color v6
📊 SMC CHOCH & BOS Dual Structure Indicator — User Guide
This indicator is designed to map market structure using Smart Money Concepts (SMC), combining:
CHOCH (Change of Character)
BOS (Break of Structure)
Swing Structure (macro)
Internal Structure (micro)
Dynamic candle coloring based on structural shifts
It provides a complete framework to understand trend shifts, confirmations, and execution timing.
🧠 CORE CONCEPTS
🔹 CHOCH (Change of Character)
Represents a potential reversal in market direction.
Bullish CHOCH → Market shifts from bearish to bullish
Bearish CHOCH → Market shifts from bullish to bearish
👉 This is the early signal, but not always confirmed.
🔹 BOS (Break of Structure)
Represents trend continuation or confirmation.
Occurs when price breaks previous structure in the direction of the trend
The first BOS after a CHOCH is especially important
👉 This is the confirmation phase.
⚙️ SETTINGS EXPLAINED
🔸 Show Structure
Swing → Displays macro structure (clean, less noise)
Internal → Displays micro structure (faster, more signals)
Both → Combines both for full context
👉 Recommended: Both
🔸 Swing Structure Length
Controls the sensitivity of macro structure.
Higher value → smoother, fewer signals
Lower value → more reactive
👉 Recommended: 8–15
🔸 Internal Structure Length
Controls micro structure detection.
Lower value → faster signals
Higher value → more filtering
👉 Recommended: 2–5
🔸 Confirm Break By Candle Close
ON → Break only confirmed after candle closes (more reliable)
OFF → Break detected instantly (faster, more aggressive)
👉 Recommended: ON
🔸 Candle Color Based On
Defines which structure controls candle coloring:
Swing → slower, trend-based coloring
Internal → faster, execution-based coloring
👉 Recommended:
Swing → for bias
Internal → for entries
🔸 Change Candle Color On
Defines when the trend/color shifts:
CHOCH
Faster reaction
More signals
Higher risk
First BOS After CHOCH
More confirmation
Fewer signals
Higher probability
👉 Recommended: First BOS After CHOCH
🔸 Color Candles
ON → candles follow structural direction
OFF → structure only (lines + labels)
🔸 Colors
Customize:
Swing bullish/bearish
Internal bullish/bearish
Candle colors
🔸 Show BOS/CHOCH Text
Displays text labels directly on structure lines:
No background
Centered on the line
Clean visual style
📈 HOW TO USE (PROFESSIONAL APPROACH)
🔹 1. Define Direction (Swing Structure)
Use Swing CHOCH + BOS to identify overall bias
Only trade in the direction of Swing trend
🔹 2. Execute with Internal Structure
Wait for Internal CHOCH
Then confirm with Internal BOS
👉 This is your entry trigger
🔹 3. Best Setup (High Probability)
✔ Swing trend bullish
✔ Internal CHOCH (pullback ends)
✔ First BOS confirms continuation
👉 That’s your trade
⚠️ COMMON MISTAKES
❌ Trading CHOCH alone
❌ Ignoring higher timeframe structure
❌ Entering after extended moves
❌ Using Internal signals against Swing trend
🔥 SIMPLE RULE SET
CHOCH = potential shift
BOS = confirmation
Swing = direction
Internal = execution
🎯 FINAL THOUGHT
This indicator is not just for signals —
it’s a market structure framework.
If used correctly, it helps you:
Avoid late entries
Trade with structure, not emotion
Align with institutional flow
This indicator is designed to map market structure using Smart Money Concepts (SMC), combining:
CHOCH (Change of Character)
BOS (Break of Structure)
Swing Structure (macro)
Internal Structure (micro)
Dynamic candle coloring based on structural shifts
It provides a complete framework to understand trend shifts, confirmations, and execution timing.
🧠 CORE CONCEPTS
🔹 CHOCH (Change of Character)
Represents a potential reversal in market direction.
Bullish CHOCH → Market shifts from bearish to bullish
Bearish CHOCH → Market shifts from bullish to bearish
👉 This is the early signal, but not always confirmed.
🔹 BOS (Break of Structure)
Represents trend continuation or confirmation.
Occurs when price breaks previous structure in the direction of the trend
The first BOS after a CHOCH is especially important
👉 This is the confirmation phase.
⚙️ SETTINGS EXPLAINED
🔸 Show Structure
Swing → Displays macro structure (clean, less noise)
Internal → Displays micro structure (faster, more signals)
Both → Combines both for full context
👉 Recommended: Both
🔸 Swing Structure Length
Controls the sensitivity of macro structure.
Higher value → smoother, fewer signals
Lower value → more reactive
👉 Recommended: 8–15
🔸 Internal Structure Length
Controls micro structure detection.
Lower value → faster signals
Higher value → more filtering
👉 Recommended: 2–5
🔸 Confirm Break By Candle Close
ON → Break only confirmed after candle closes (more reliable)
OFF → Break detected instantly (faster, more aggressive)
👉 Recommended: ON
🔸 Candle Color Based On
Defines which structure controls candle coloring:
Swing → slower, trend-based coloring
Internal → faster, execution-based coloring
👉 Recommended:
Swing → for bias
Internal → for entries
🔸 Change Candle Color On
Defines when the trend/color shifts:
CHOCH
Faster reaction
More signals
Higher risk
First BOS After CHOCH
More confirmation
Fewer signals
Higher probability
👉 Recommended: First BOS After CHOCH
🔸 Color Candles
ON → candles follow structural direction
OFF → structure only (lines + labels)
🔸 Colors
Customize:
Swing bullish/bearish
Internal bullish/bearish
Candle colors
🔸 Show BOS/CHOCH Text
Displays text labels directly on structure lines:
No background
Centered on the line
Clean visual style
📈 HOW TO USE (PROFESSIONAL APPROACH)
🔹 1. Define Direction (Swing Structure)
Use Swing CHOCH + BOS to identify overall bias
Only trade in the direction of Swing trend
🔹 2. Execute with Internal Structure
Wait for Internal CHOCH
Then confirm with Internal BOS
👉 This is your entry trigger
🔹 3. Best Setup (High Probability)
✔ Swing trend bullish
✔ Internal CHOCH (pullback ends)
✔ First BOS confirms continuation
👉 That’s your trade
⚠️ COMMON MISTAKES
❌ Trading CHOCH alone
❌ Ignoring higher timeframe structure
❌ Entering after extended moves
❌ Using Internal signals against Swing trend
🔥 SIMPLE RULE SET
CHOCH = potential shift
BOS = confirmation
Swing = direction
Internal = execution
🎯 FINAL THOUGHT
This indicator is not just for signals —
it’s a market structure framework.
If used correctly, it helps you:
Avoid late entries
Trade with structure, not emotion
Align with institutional flow
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.