SMC Indicator

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Title: Smart Money Concepts [SMC] Market Structure

Description: This is a technical analysis tool designed to map Market Structure using Smart Money Concepts (SMC) logic. Unlike standard ZigZag indicators that often clutter the chart with repainting lines, this script focuses on delivering a clean, objective view of Trend Structure (Highs/Lows) and Structural Breaks.

The Problem It Solves: Traders often struggle to identify the valid "Swing High" or "Swing Low" in real-time. This indicator automates that process using a non-repainting detection engine, helping traders objectively spot Trend Continuations (BoS) and Potential Reversals (CHoCH).

How It Works:

1. Pivot Detection (The ZigZag Engine): The script identifies Swing Points based on a user-defined Depth and Deviation %.

High (H): A peak is confirmed when price retraces by the deviation percentage.

Low (L): A trough is confirmed when price rallies by the deviation percentage.

Ghost Line: A dotted line connects the last confirmed pivot to the current live price, allowing you to visualize the developing structure before it locks in.

2. Structure Mapping: Once pivots are confirmed, the script analyzes price action relative to those points:

BoS (Break of Structure): Trend Continuation. Triggered when price breaks a confirmed pivot in the direction of the trend (e.g., breaking a Higher High in an uptrend).

CHoCH (Change of Character): Trend Reversal. Triggered when price breaks a major pivot in the opposite direction (e.g., breaking a Higher Low in an uptrend).

Visual Features:

Minimalist Design: Uses floating text labels (no background boxes) to keep price action visible.

Color Coded: Blue/Maroon for Continuation (BoS), Aqua/Orange for Reversal (CHoCH).

Settings Guide:

ZigZag Deviation %: Set this to 5.0 for Higher Timeframes (Daily/4H) or lower it to 0.2 - 0.5 for Intraday Scalping (1m/5m).

Ghost Line: Toggle on/off to see the real-time projection.

Alerts: Full alert support included for Bullish/Bearish BoS and CHoCH signals.

Credits: Logic based on standard Price Action and Market Structure theory.

أول أمس

ملاحظات الأخبار

Title: Smart Money Concepts [SMC] Market Structure

Description: This is a technical analysis tool designed to map Market Structure using Smart Money Concepts (SMC) logic. Unlike standard ZigZag indicators that often clutter the chart with repainting lines, this script focuses on delivering a clean, objective view of Trend Structure (Highs/Lows) and Structural Breaks.

The Problem It Solves: Traders often struggle to identify the valid "Swing High" or "Swing Low" in real-time. This indicator automates that process using a non-repainting detection engine, helping traders objectively spot Trend Continuations (BoS) and Potential Reversals (CHoCH).

How It Works:

1. Pivot Detection (The ZigZag Engine): The script identifies Swing Points based on a user-defined Depth and Deviation %.

High (H): A peak is confirmed when price retraces by the deviation percentage.

Low (L): A trough is confirmed when price rallies by the deviation percentage.

Ghost Line: A dotted line connects the last confirmed pivot to the current live price, allowing you to visualize the developing structure before it locks in.

2. Structure Mapping: Once pivots are confirmed, the script analyzes price action relative to those points:

BoS (Break of Structure): Trend Continuation. Triggered when price breaks a confirmed pivot in the direction of the trend (e.g., breaking a Higher High in an uptrend).

CHoCH (Change of Character): Trend Reversal. Triggered when price breaks a major pivot in the opposite direction (e.g., breaking a Higher Low in an uptrend).

Visual Features:

Minimalist Design: Uses floating text labels (no background boxes) to keep price action visible.

Color Coded: Blue/Maroon for Continuation (BoS), Aqua/Orange for Reversal (CHoCH).

Settings Guide:

ZigZag Deviation %: Set this to 5.0 for Higher Timeframes (Daily/4H) or lower it to 0.2 - 0.5 for Intraday Scalping (1m/5m).

Ghost Line: Toggle on/off to see the real-time projection.

Alerts: Full alert support included for Bullish/Bearish BoS and CHoCH signals.

Credits: Logic based on standard Price Action and Market Structure theory.