Swing Failure Mode (BB-OB) Indicator Download for MT4 - Free | Forex Indicator Download - MetaTrader 4 Resources

The Swing Failure Pattern (SFP) indicator is a useful tool for technical analysis while simultaneously displaying key points such as Break of Structure (BOS), Change of Nature (CHOCH) and False Breakout (FSP) on the chart. This indicator can help traders identify false breakouts and be wary of market traps with awareness of trading risks .

Indicator specification table

Indicators at a glance

The areas highlighted by the SFP indicator are high potential points for price reversal and entry into trades. This indicator is particularly effective for traders based on liquidity styles, including ICT (Inner Circle Trader) and Smart Money. The indicator shows CHOCH with a red line and BOS with a blue line.

Comprehensive indicators in an uptrend

The image below shows the GBP/JPY price chart on a 5-minute time frame. The indicator recognizes character changes (CHoCH) patterns and marks them on the chart. Once CHoCH and price break out, a suitable opportunity for a long (buy) trade will arise.

Comprehensive indicators are on a downward trend

The image below shows the GBP/USD price chart on the 4-hour time frame . Based on the image, the indicator detects CHoCH and False Breakout (SFP) and plots them on the chart . The price crosses the “CHOCH” zone and confirms the False Breakout (SFP) creates a favorable entry point for short (sell) trades , indicating a continuation of a downtrend .

Indicator Settings

• Theme: indicator background color;
• Mode of SFP: Displays the SFP type, with candle body and candle wick;
• Mode of Zone: Display order block;
• Filter with BOS-CHOCK: Filter with BOS-CHOCK;
• Swing Major Filter: Displays significant swings;
• Swing Minor Filter: displays small fluctuations;
• Swing in the Trend: shows the fluctuation of the trend;
• Counter-trend swing: Shows counter-trend swings.

Conclusion

The Composite Failed Breakout Indicator (SFP) is a valuable tool for professional traders to identify false breakouts and reversal points in financial markets. This indicator is convenient for smart money and ICT strategies and provides an accurate market trend analysis by displaying “BOS” and “CHoCH”.