STRYK: CHANGE OF CHARACTER
STRYK: CHANGE OF CHARACTER (STRYK:CHCH) v1.5
🔹 One job. This indicator follows price structure and gives a buy or sell signal only on a TRUE change of character. It does not stack other ideas on top. A dip below the last little low is not a change of character, because price often dips and runs straight back up. The change comes when price closes through the low that actually built the trend.
🔹 What counts as a true pivot. Every swing starts as a candidate: a high or low with a chosen number of candles on each side (default 2). A candidate low becomes the PROTECTED low only when the rally from it closes above the previous swing high. In other words it is the low that made the last higher high. Every other dip is internal and is never a reference. The mirror applies to highs in a downtrend. The protected low and protected high are drawn as single dotted lines from the swing that made them, running 500 candles ahead of price by default (extension and style selectable), with a price tag at the end.
🔹 What counts as a change of character. A bearish change of character is a candle that CLOSES below the protected low by a real margin (displacement, default a tenth of the ATR). A bullish change of character is a close above the protected high by the same margin. A hairline close through does not count. The first break flips the bias; later breaks in the new direction are BOS marks (continuation), which simply move the protected level forward. Closes through minor highs or lows that are not the protected level are shown as tiny dim dots so you can see what the indicator refused to call a change of character.
🔹 Where the structure is measured. By default the structure runs on the 4-hour while you watch any lower chart, for example the 5-minute. The engine runs inside the higher-timeframe context on the previous completed candle, which is TradingView's documented non-repainting form: a signal appears on the first chart candle after the 4-hour candle closes, never before, and it does not change afterwards. You can switch to Chart timeframe to read the structure of the candles you are looking at. If the chart timeframe is above the structure timeframe the script falls back to chart mode and says so in the table.
🔹 The trade plan. One plan at a time. Entry is the next executable chart price (the open of the first chart candle after the signal). The stop is a hard stop just past the last swing before the break (the lower high before a bearish change, the higher low before a bullish one) plus a small tick buffer, never a close-based stop; a dropdown moves it to the origin of the whole leg instead if you prefer the wider structural stop. The target is one times the stop distance by default, with 1.5R and 2R selectable. The plan lines (entry, stop, target) are drawn only for the active plan, dotted and extended ahead of price by default with the extension and style selectable; a finished plan leaves its result on its signal mark. If the stop and target are both touched in the same candle the trade counts as a loss. A new opposite change of character supersedes an open plan.
🔹 Retest plan. For small accounts a second plan runs beside the original: after a change of character the script waits for price to come back to the broken level, enters on the first chart candle that closes back in the signal direction, puts the hard stop just past the pullback extreme, and keeps the original one-R target. That gives the structure trade a chart-sized stop. It is cancelled if the original target is reached first, if the pullback runs through the original stop, or if the wait runs out, and it is scored in its own rows of the table, never mixed with the original plan.
🔹 Risk in dollars. The dollar risk of each plan is worked out from the symbol's own point value (five dollars a point on MES). Plans above the risk cap you choose are marked OVER CAP: they are still drawn and measured, but not counted as taken. Set the cap to Off to take every signal.
🔹 Filters, each with its own switch. New York filter: the structure candle must close inside the window (Chicago time). On the 4-hour, CME candles close at 21:00, 01:00, 05:00, 09:00, 13:00 and 17:00, so the New York setting keeps the 09:00 and 13:00 closes and the Cash close setting keeps 13:00 and 17:00. Skip 3-day run: no long after three up days in a row and no short after three down days, counted on completed CME trading days. Confirmation candle (off by default): the next structure candle must also close in the signal direction before entry. Acceptance (off by default, measured always): the entry waits one or two candles without a close back across the level; a close back cancels the trade and the mark says FAILED.
🔹 The scorecard. A small table shows the bias, the protected levels, the active plan with its dollar risk, and how every change of character on this chart has resolved under the current settings: signals, won and lost at the chosen target, net R after a round-trip cost you set, how often 1.5R and 2R were reached, follow-through (a BOS in the signal direction within twelve structure candles), the failed rate, average favourable and adverse excursion, the average and range of the stop distance in points and dollars, and the counts of superseded, filtered, over-cap and cancelled signals. ALL signals and TAKEN signals (passed the filters and under the cap) are shown side by side. The table also says when the sample is too small to read. Everything in it is measured on your chart only and is not a prediction.
🔹 Candle colours. An optional candle colour engine driven by the same structure: green while the bias is up, red while it is down, and blue on standby, meaning there is no structure yet or the latest change of character failed by closing back across its level and nothing has confirmed a direction since. A second option paints candles by the estimated delta of the previous completed structure candle (close position inside its range times volume), green for buyers, red for sellers, blue when near flat. Every candle is coloured, with no gaps: before the first structure exists the colour is standby. Paint mode lets the script draw its own full candles so the colours show even when your chart candles are hidden, or recolour the chart candles instead. Colours and opacity are yours to set.
🔹 Alerts. Thirteen alert conditions: Bull CHoCH, Bear CHoCH, Entry filled, Target hit, Stop hit, BOS up, BOS down, CHoCH failed, Plan superseded or cancelled, Retest entry filled, Retest target hit, Retest stop hit, and ANY signal, which fires on every one of them so one alert can cover everything. Every event also sends a message with the live prices (level, swing, entry, stop, target) when you use the any alert function call option.
🔹 Settings. Every setting has a plain-English tooltip and most are dropdowns. Master switches cover the structure source, swing strength, displacement, acceptance, confirmation, both filters, target, risk cap, stop buffer, cost, what is drawn, the table position and size, and alerts. The Looks group covers all colours, mark style and size, line widths and styles, and table colours. Sizes default to phone-friendly values.
🔹 Notes. Works on any symbol and timeframe; built and tested around index futures. Nothing in this indicator is financial advice; it marks structure and measures what happened.
🔹 One job. This indicator follows price structure and gives a buy or sell signal only on a TRUE change of character. It does not stack other ideas on top. A dip below the last little low is not a change of character, because price often dips and runs straight back up. The change comes when price closes through the low that actually built the trend.
🔹 What counts as a true pivot. Every swing starts as a candidate: a high or low with a chosen number of candles on each side (default 2). A candidate low becomes the PROTECTED low only when the rally from it closes above the previous swing high. In other words it is the low that made the last higher high. Every other dip is internal and is never a reference. The mirror applies to highs in a downtrend. The protected low and protected high are drawn as single dotted lines from the swing that made them, running 500 candles ahead of price by default (extension and style selectable), with a price tag at the end.
🔹 What counts as a change of character. A bearish change of character is a candle that CLOSES below the protected low by a real margin (displacement, default a tenth of the ATR). A bullish change of character is a close above the protected high by the same margin. A hairline close through does not count. The first break flips the bias; later breaks in the new direction are BOS marks (continuation), which simply move the protected level forward. Closes through minor highs or lows that are not the protected level are shown as tiny dim dots so you can see what the indicator refused to call a change of character.
🔹 Where the structure is measured. By default the structure runs on the 4-hour while you watch any lower chart, for example the 5-minute. The engine runs inside the higher-timeframe context on the previous completed candle, which is TradingView's documented non-repainting form: a signal appears on the first chart candle after the 4-hour candle closes, never before, and it does not change afterwards. You can switch to Chart timeframe to read the structure of the candles you are looking at. If the chart timeframe is above the structure timeframe the script falls back to chart mode and says so in the table.
🔹 The trade plan. One plan at a time. Entry is the next executable chart price (the open of the first chart candle after the signal). The stop is a hard stop just past the last swing before the break (the lower high before a bearish change, the higher low before a bullish one) plus a small tick buffer, never a close-based stop; a dropdown moves it to the origin of the whole leg instead if you prefer the wider structural stop. The target is one times the stop distance by default, with 1.5R and 2R selectable. The plan lines (entry, stop, target) are drawn only for the active plan, dotted and extended ahead of price by default with the extension and style selectable; a finished plan leaves its result on its signal mark. If the stop and target are both touched in the same candle the trade counts as a loss. A new opposite change of character supersedes an open plan.
🔹 Retest plan. For small accounts a second plan runs beside the original: after a change of character the script waits for price to come back to the broken level, enters on the first chart candle that closes back in the signal direction, puts the hard stop just past the pullback extreme, and keeps the original one-R target. That gives the structure trade a chart-sized stop. It is cancelled if the original target is reached first, if the pullback runs through the original stop, or if the wait runs out, and it is scored in its own rows of the table, never mixed with the original plan.
🔹 Risk in dollars. The dollar risk of each plan is worked out from the symbol's own point value (five dollars a point on MES). Plans above the risk cap you choose are marked OVER CAP: they are still drawn and measured, but not counted as taken. Set the cap to Off to take every signal.
🔹 Filters, each with its own switch. New York filter: the structure candle must close inside the window (Chicago time). On the 4-hour, CME candles close at 21:00, 01:00, 05:00, 09:00, 13:00 and 17:00, so the New York setting keeps the 09:00 and 13:00 closes and the Cash close setting keeps 13:00 and 17:00. Skip 3-day run: no long after three up days in a row and no short after three down days, counted on completed CME trading days. Confirmation candle (off by default): the next structure candle must also close in the signal direction before entry. Acceptance (off by default, measured always): the entry waits one or two candles without a close back across the level; a close back cancels the trade and the mark says FAILED.
🔹 The scorecard. A small table shows the bias, the protected levels, the active plan with its dollar risk, and how every change of character on this chart has resolved under the current settings: signals, won and lost at the chosen target, net R after a round-trip cost you set, how often 1.5R and 2R were reached, follow-through (a BOS in the signal direction within twelve structure candles), the failed rate, average favourable and adverse excursion, the average and range of the stop distance in points and dollars, and the counts of superseded, filtered, over-cap and cancelled signals. ALL signals and TAKEN signals (passed the filters and under the cap) are shown side by side. The table also says when the sample is too small to read. Everything in it is measured on your chart only and is not a prediction.
🔹 Candle colours. An optional candle colour engine driven by the same structure: green while the bias is up, red while it is down, and blue on standby, meaning there is no structure yet or the latest change of character failed by closing back across its level and nothing has confirmed a direction since. A second option paints candles by the estimated delta of the previous completed structure candle (close position inside its range times volume), green for buyers, red for sellers, blue when near flat. Every candle is coloured, with no gaps: before the first structure exists the colour is standby. Paint mode lets the script draw its own full candles so the colours show even when your chart candles are hidden, or recolour the chart candles instead. Colours and opacity are yours to set.
🔹 Alerts. Thirteen alert conditions: Bull CHoCH, Bear CHoCH, Entry filled, Target hit, Stop hit, BOS up, BOS down, CHoCH failed, Plan superseded or cancelled, Retest entry filled, Retest target hit, Retest stop hit, and ANY signal, which fires on every one of them so one alert can cover everything. Every event also sends a message with the live prices (level, swing, entry, stop, target) when you use the any alert function call option.
🔹 Settings. Every setting has a plain-English tooltip and most are dropdowns. Master switches cover the structure source, swing strength, displacement, acceptance, confirmation, both filters, target, risk cap, stop buffer, cost, what is drawn, the table position and size, and alerts. The Looks group covers all colours, mark style and size, line widths and styles, and table colours. Sizes default to phone-friendly values.
🔹 Notes. Works on any symbol and timeframe; built and tested around index futures. Nothing in this indicator is financial advice; it marks structure and measures what happened.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.