IDM-CHoCH-BOS (ICT) Indicator Download for MetaTrader 4 - Free - MT4/MT5 Resource

The IDM-CHOCH-BOS indicator is one of the advanced MetaTrader 4 indicators designed to analyze price movements and changes in market structure.

The indicator is based on the Smart Money (SMC) and ICT concept and helps identify patterns like Character Changes (CHOCH) , Structural Breaks (BOS) , and Inducements (IDM) .

These features allow traders to analyze price movements more deeply and identify key entry and exit points .

IDM-CHOCH-BOS indicator specifications

The following table summarizes the specifications of this indicator.

Indicators at a glance

The following concepts briefly show the levels of this indicator:

• CHANGES OF CHARACTERS (CHOCH): This function detects swing points and indicates possible changes in market trends. CHOCH is displayed in red in the indicator
• Break of Structure (BOS): This feature identifies new highs and lows after BOS analysis by detecting CHOCH . The market structure is displayed in blue
• Inducements (IDM): Identifying Inducements help traders avoid false breakouts in trends. These areas are displayed in gray in the indicator

Indicators are in an upward trend

In the 4-hour timeframe in the AUD/JPY currency pair , a change of character (CHOCH) occurs and the price enters an uptrend. This indicator confirms the uptrend with a Break in Structure (BOS) .

However, if a downward break occurs, traders can exit the trade to avoid potential risks and protect profits.

Indicators are in a downward trend

On the USD/JPY chart in the 4-hour timeframe , prices show a downtrend after a Change of Character occurs. This change has been confirmed via a Break in Structure (BOS) , with the downtrend strengthening.

In this case, traders can close retracement zones by observing price retracement zones (BOS) .

IDM-CHOCH-BOS indicator settings

The indicator settings are as shown below:

• Bar Count : The number of candles to look back in the indicator.

Conclusion

The IDM-CHOCH-BOS indicator is an ICT and Smart Money (SM) based tool to identify character changes (CHOCH) and structural breaks (BOS) .

With its Inducements, this indicator helps traders identify accurate reversal points and key breakouts, reducing trading risk.