OPEN-SOURCE SCRIPT
SMC Indicator
Title: Smart Money Concepts [SMC] Structure & ZigZag
Description: Master market structure with this precision Smart Money Concepts (SMC) tool. Unlike standard ZigZag indicators that repaint (change the past) as price moves, this indicator utilizes a robust, non-repainting detection engine to objectively map Swing Highs, Swing Lows, and structural breaks.
It is designed to help traders identify the true trend direction and spot critical reversal points without the confusion of disappearing signals.
How It Works:
1. Non-Repainting Pivots: The core of this indicator is a custom ZigZag algorithm that "locks in" Swing Highs (H) and Swing Lows (L) only after they are statistically confirmed by a user-defined deviation. Once a label appears, it stays there.
2. Break of Structure (BoS):
Signal: Trend Continuation.
Logic: Triggers when price breaks and closes past a confirmed pivot in the direction of the current trend.
Use Case: confirms the trend is healthy and identifies opportunities to join the move.
3. Change of Character (CHoCH):
Signal: Trend Reversal.
Logic: Triggers when price breaks a key pivot in the opposite direction of the current trend.
Use Case: Serves as an early warning signal that the trend may be ending or reversing.
4. The Ghost Line: A dotted line connects the last confirmed pivot to the current live price. This helps you visualize the developing leg of the structure before it is confirmed.
Visual Guide:
🔵 Blue Label: Bullish Break of Structure (BoS).
🔴 Maroon Label: Bearish Break of Structure (BoS).
🟢 Aqua Label: Bullish Change of Character (CHoCH).
🟠 Orange Label: Bearish Change of Character (CHoCH).
H / L: Confirmed Swing Highs and Lows.
Features:
Precision Tuning: "Deviation %" input supports values as low as 0.01 for scalping on 1-minute charts.
Smart Tooltips: Hover over settings to see recommended values for Daily, Hourly, and Minute timeframes.
Clean Visuals: Uses text-only labels to keep the chart clutter-free.
Alerts: Fully alert-enabled for Bullish/Bearish BoS and CHoCH signals.
Credits: This script is built upon classic Market Structure theory and Smart Money Concepts (SMC), optimized for real-time reliability.
Description: Master market structure with this precision Smart Money Concepts (SMC) tool. Unlike standard ZigZag indicators that repaint (change the past) as price moves, this indicator utilizes a robust, non-repainting detection engine to objectively map Swing Highs, Swing Lows, and structural breaks.
It is designed to help traders identify the true trend direction and spot critical reversal points without the confusion of disappearing signals.
How It Works:
1. Non-Repainting Pivots: The core of this indicator is a custom ZigZag algorithm that "locks in" Swing Highs (H) and Swing Lows (L) only after they are statistically confirmed by a user-defined deviation. Once a label appears, it stays there.
2. Break of Structure (BoS):
Signal: Trend Continuation.
Logic: Triggers when price breaks and closes past a confirmed pivot in the direction of the current trend.
Use Case: confirms the trend is healthy and identifies opportunities to join the move.
3. Change of Character (CHoCH):
Signal: Trend Reversal.
Logic: Triggers when price breaks a key pivot in the opposite direction of the current trend.
Use Case: Serves as an early warning signal that the trend may be ending or reversing.
4. The Ghost Line: A dotted line connects the last confirmed pivot to the current live price. This helps you visualize the developing leg of the structure before it is confirmed.
Visual Guide:
🔵 Blue Label: Bullish Break of Structure (BoS).
🔴 Maroon Label: Bearish Break of Structure (BoS).
🟢 Aqua Label: Bullish Change of Character (CHoCH).
🟠 Orange Label: Bearish Change of Character (CHoCH).
H / L: Confirmed Swing Highs and Lows.
Features:
Precision Tuning: "Deviation %" input supports values as low as 0.01 for scalping on 1-minute charts.
Smart Tooltips: Hover over settings to see recommended values for Daily, Hourly, and Minute timeframes.
Clean Visuals: Uses text-only labels to keep the chart clutter-free.
Alerts: Fully alert-enabled for Bullish/Bearish BoS and CHoCH signals.
Credits: This script is built upon classic Market Structure theory and Smart Money Concepts (SMC), optimized for real-time reliability.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.