Candle Perspective Structure Indicator MT5

Candle Perspective Structure Indicator

The Candle Perspective Structure Indicator simplifies market structure analysis by automatically detecting swing points and breakout levels. It provides a clear visual representation of swing highs, swing lows, and break-of-structure (BOS) levels, aiding traders in identifying market trends and potential trade zones.

Key Feature

Swing Highs and Lows Detection:

• Identifies major swing points using candlestick patterns.
• Categorizes swings into subtypes:
  • HH (Higher High)
  • LH (Lower High)
  • LL (Lower Low)
  • HL (Higher Low)
  • DB (Double Bottom/Top)

Break-of-Structure (BOS) Visualization:

• Plots BOS lines at price breakout levels.
• Customizable line styles, colors, and widths for better chart clarity.

Fully Customizable Visual Elements:

• Adjustable label sizes, colors, and visibility for swing points.
• Configurable BOS line appearance to suit your charting preferences.

Input Parameters

General Settings: BarsBack: Analyze historical data up to a user-defined number of bars (default: 1000).

Swing Settings: Toggle visibility and adjust visual properties for swing highs and lows.

BOS Settings: Enable/disable BOS plotting and customize its appearance.

How It Works

The indicator scans historical price data to identify swing highs and lows.
It classifies each swing point (e.g., HH, HL, LL) based on its relationship with preceding points.
BOS lines are drawn when price breaks a key swing level, marking potential breakout zones.

Use Cases

Market Structure Analysis: Gain insights into price dynamics with clearly marked swing points and BOS levels.
Trend Identification: Determine the current market phase (uptrend, downtrend, or consolidation).
Trade Planning: Use BOS levels to identify breakout and reversal opportunities.

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