MT5 Market Structure Indicator (BOS-CHOCH) Download - Free - [TFlab] - MetaTrader 5 Resources

The Market Structure Indicator (BOS-CHOCH) is an ICT-style indicator in MetaTrader 5 (MT5).

It provides trading opportunities for ICT and Smart Money traders by identifying changes in primary and secondary market characteristics (CHOCH) and structural breakouts (BOS) at various levels.

This helps traders understand market structure and provides more effective price trend analysis.

Market structure indicator (BOS-CHOCH) table

The table below provides general information and specifications for this indicator.

Indicators at a glance

The Market Structure Indicator (BOS-CHOCH) is a suitable tool for ICT traders to identify market structures. The indicator is able to detect and plot major and minor characteristic change (CHOCH) levels as well as structural breakouts (BOS), giving you a better understanding of price movements and overall market structure. As a result, traders can perform more informed analysis of their trades.

Bullish personality change

The Market Structure indicator (BOS-CHOCH) on the 1-hour gold chart identifies characteristic changes in the market from bearish to bullish, notifying traders of the occurrence of (CHOCH) by drawing a red line.

After the character changes, traders can trade when the price returns to the order block that caused the change. After this return, the price increased and continued its bullish trend.

Subsequently, the price broke out of the market structure (BOS) and followed its uptrend with greater intensity, resulting in a sharp bullish trend in the market.

Bearish Trend

The Market Structure Breakout indicator has identified changes in market characteristics and structure breakouts on the 15-minute (USD/CAD) chart. This indicator shows changes in market characteristics in red and structural breakouts in blue, providing traders with the overall market structure.

This analytical tool can be used by ICT and Smart Money traders to better understand price trends and find suitable trading opportunities. By using this indicator, traders can make more precise analyzes and execute trading decisions with greater confidence.

Market Structure Indicator (BOS-CHOCH) Settings

In the figure below, the settings of the market structure indicator (BOS-CHOCH) are shown in full:

General Setting

• How many candles to consider: Specify the number of candles to consider when calculating and displaying past indicators based on candles;
• Trend calculation type (ZigZag Candle): Select the trend calculation type based on ZigZag or Candle.

Conclusion

The Market Structure Indicator (BOS-CHOCH) is one of the MetaTrader 5 Smart Money Indicators (MT5) that displays trading opportunities. Smart Money ICT traders identify market structure changes by drawing trend lines.

This indicator helps analyze price trends more accurately by detecting character changes (CHOCH) and displaying them through red lines on the chart. Additionally, it marks breakouts of structure (BOS) with blue lines, providing traders with a clearer view of trend changes.

The ability to identify major and minor changes in this indicator enables traders to analyze the market's moving structure. This feature is provided to help traders identify liquidity areas, order blocks, and market reversal points with confidence.