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Vasyl Ivanov | BOS Indicator

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Break of Structure (BoS) & Change of Character (CHoCH) Indicator

This indicator is designed for traders who need to identify critical market turning points, such as Break of Structure (BoS) and Change of Character (CHoCH), to optimize their entry and exit strategies. It offers flexibility and customization to adapt to different trading styles and markets.

Key Features:

Detect Break of Structure (BoS):
The indicator automatically identifies BoS points, highlighting areas where price breaks key support or resistance levels, signaling potential trend continuation or reversal.
Detect Change of Character (CHoCH):
Detects CHoCH, where a sudden shift in market structure occurs, helping traders identify potential reversals earlier.
Customizable Min and Max Length for BoS Detection:
Adjust the minimum and maximum length to refine how the indicator detects BoS based on the market’s volatility and your trading style. This ensures flexibility across different asset classes and timeframes.
Multiple BoS Parameters with Different Styles:
You can configure multiple BoS parameters with individual styles, colors, and line types, allowing you to distinguish between various BoS scenarios for better chart visualization.

How It Works:
The BoS & CHoCH Indicator analyzes price action to detect significant shifts in market structure:

Break of Structure (BoS) occurs when the price breaks beyond a defined range, indicating a possible trend continuation or reversal.
Change of Character (CHoCH) marks a sudden change in the market direction, often signaling the start of a new trend.

With customizable min and max lengths for BoS detection, traders can tailor the indicator to filter out insignificant breaks and focus on meaningful market movements.

Use Cases:

Trend Continuation: Detect BoS to confirm that the current trend is likely to continue, offering potential entry points in the direction of the trend.
Reversal Identification: Use CHoCH detection to identify possible trend reversals early, enabling you to adjust your strategy accordingly.
Chart Clarity: Customize the styling of BoS markers to suit your chart preferences, making key market points more visible for analysis.

Why It’s Unique:
This indicator combines BoS and CHoCH detection with full customization options, giving traders the ability to fine-tune its sensitivity to market movements. By allowing multiple BoS parameters with different visual styles, it’s suited for both intraday scalping and longer-term trading strategies.

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Improved speed of calculations

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Added multitimeframe analysis to show break of structure on two timeframes at once

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Improved multi-timeframe calculations for long periods

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Improved BoS detection based on the new extremums algorithm.

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Fixed a bug for historical bars

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Added Internal BoS