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OPEN-SOURCE SCRIPT

Ultra Market Structure

Von Rathack
Aktualisiert
The Ultra Market Structure indicator detects key market structure breaks, such as Break of Structure (BoS) and Change of Character (CHoCH), to help identify trend reversals. It plots lines and labels on the chart to visualize these breakpoints with alerts for important signals.

Introduction
This script is designed to help traders visualize important market structure events, such as trend breaks and reversals, using concepts like Break of Structure (BoS) and Change of Character (CHoCH). The indicator highlights internal and external price levels where the market shifts direction. It offers clear visual signals and alerts to keep traders informed of potential changes in the market trend.

Detailed Description
The indicator focuses on detecting "market structure breaks," which occur when the price moves past significant support or resistance levels, suggesting a potential reversal or continuation of the trend.

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  1. Type of structure
    Internal Structure: Focuses on smaller, shorter-term price levels within the current market trend.
    External Structure: Focuses on larger, longer-term price levels that may indicate more significant shifts in the market.


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  2. Key events
    Break of Structure (BoS): A market structure break where the price surpasses a previous high (bullish BoS) or low (bearish BoS).
    Change of Character (CHoCH): A shift in market behavior when the price fails to continue in the same direction, indicating a possible trend reversal.
    Once a break or shift is detected, the script plots lines and labels on the chart to visually mark the breakpoints.
    It also provides alerts when a BoS or CHoCH occurs, keeping traders informed in real-time.
    The indicator can color the background and candles based on the market structure, making it easy to identify the current trend.


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  3. Special feature
    At news events or other momentum pushes most structure indicators will go into "sleep mode" because of too far away structure highs/lows. This indicator has a structure reset feature to solve this issue.


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Detects Break of Structure (BoS) and Change of Character (CHoCH) signals.
Marks internal and external support/resistance levels where market trends change.
Provides visual cues (lines, labels) and real-time alerts for structure breaks.
Offers background and candle color customization to highlight market direction.
Versionshinweise
update (added Previous High/Low (Day, Week, Month
added Fair Value Gap's)
Versionshinweise
update
added premium & discount levels
Versionshinweise
bugfix
Versionshinweise
update chartbild
Versionshinweise
added a 2-Candle confirmation for internal structure breaks
added a FVG threshold for too small FVG's
Versionshinweise
added Auto Fibonacci Retracement

the 2-Candle confirmation feature is working but sometimes it takes the wrong bar to draw from
Versionshinweise
added customizable Volume-Weighted-Average-Price indicators
added candle color tranparency
added some tooltips
Versionshinweise
added a chaos structure channel
solved minor bugfix of the fib
changed the way premium & discount zones are drawn from, they now drawn from the last overbought/oversold seperatly
Versionshinweise
added liquidity grabs
updated fib (you can now display both internal and external)
rewrote some parts of the script
Versionshinweise
update chart picture
Versionshinweise
added day/week/month open line
added day/week/month session divider
changed the whole day/week/month part for quicker settings selection
Versionshinweise
added a customizable FVG threshold
added customizable labels
Versionshinweise
added pivot points and an option to display price at labels
Versionshinweise
added pivot points and an option to display price at labels
Versionshinweise
added pivot points and an option to display price at labels
bollingersbanddaytradingfvgmarketstructurepivotPivot points and levelspremiumdiscountprevioushighlowstructureTrend Analysis

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Rathack

Haftungsausschluss

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