The market structure indicator helps traders easily read market trends, this indicator shows trend continuity and trend reversals, this tool will be very useful for beginners who are just getting to know market structure, the indicator will provide visualization of the patterns that occur
Key Features: 1. BOS pattern: The indicator will provide an overview of the Break Of Structure pattern, where the pattern will indicate the continuation of the trend
2. CHOCH Pattern: The indicator will provide an overview of the Change Of Character market trend in the form of a trend reversal
3. Supply Demand Zone : The indicator will provide an overview reversal zone Supply & Demand
Note : For setting properties indicator only focus on “_USE_LAST_CHOCH_START” and “BACKNUMBER”. “_USE_LAST_CHOCH_START” mean that indicator will calculate market structure based on the smallest market visibility (LAST CHOCH), and “BACKNUMBER” will disabled.
However, if you want to carry out market structure calculations from a wider range, then you can set FALSE “_USE_LAST_CHOCH_START” and fill “BACKNUMBER” from 500~1000. The greater the value you give to the backnumber, the wider the calculation range.
The results of the calculation will change depending on how wide the calculation (BACKNUMBER) you set !