MT4 Market Structure Indicator (BOS-CHOCH) Download - Free - [TFlab] - MetaTrader 4 Resources

The Market Structure Indicator (BOS-CHOCH) is an ICT style indicator for MetaTrader 4 (MT4). This indicator allows traders to follow ICT style to identify changes in the primary and secondary characteristics of the market and breakthroughs in the primary and secondary structures. As a result, their trading analysis becomes more professional.

Market structure indicator (BOS-CHOCH) table

Below is the general information and specifications of this indicator.

Market Structure Indicator (BOS-CHOCH) Overview

The Market Structure Indicator (BOS-CHOCH) is a technical analysis tool used by ICT traders to identify market Character Changes (CHOCH) and Structural Breaks (BOS) . This indicator identifies and displays CHOCH and BOS in two major and minor forms.

Uptrend

On the 1-minute chart of USD/CHF , the market structure indicator (BOS-CHOCH) identifies changes in the nature of the market. After the formation of CHOCH , the market trend changed from bearish to bullish.

After this change of character, the price returned to the area of ​​the order that caused the change and continued its bullish trend. Furthermore, the bullish trend continues and gets stronger as the Break of Structure occurs.

Bearish Trend

On the 30-minute chart of USD/JPY , the market structure indicator (BOS-CHOCH) identifies the change of character (CHOCH) and structural break (BOS) by drawing the red line CHOCH and the blue line BOS .

ICT traders can take advantage of this change in market characteristics to wait for the price to return to the order range and place trades at the right time.

After the formation of CHOCH , the trend changed from bullish to bearish. Subsequently, the price started correcting towards the order block and then continued the downward trend.

As the price moved lower, the Break of Structure occurred, confirming the downward price trend.

Market Structure Indicator (BOS-CHOCH) Settings

The setup of the market structure indicator (BOS-CHOCH) is shown in its entirety in the image below:

General Setting

• How many candles to consider: set the number of historical candles used to calculate and display the indicator;
• Trend calculation type (ZigZag candle): Configure trend calculation based on ZigZag or candle patterns.

Conclusion

The Market Structure Indicator (BOS-CHOCH) is one of the ICT and Smart Money , designed to analyze changes in market characteristics and identify market structure breakthroughs.

This indicator is particularly suitable for ICT and Smart Money traders who focus on price trend analysis and gain an in-depth understanding of market movements. Additionally, this tool helps identify liquidity areas or price reactions.