INVITE-ONLY SCRIPT

Market Structure [Truth Indie]

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Market Structure
Market structure is a crucial component of various trading methodologies. If you can accurately map the market structure, tailored to the volatility or assets you are trading, it helps you identify trends clearly and enhances the accuracy of your trading strategies.
This indicator facilitates easy and swift mapping of market structure for traders. The market structure in this indicator consists of 3 types:
1.Fractal structure
2.Internal structure
3.External structure

FRACTAL STRUCTURE MAPPING
-Wick breaks are sufficient for a Fractal break of structure.
-The precise moment when the price breaks a Fractal high or low confirms the break.

BULLISH & BEARISH FRACTAL STRUCTURE
Bullish Fractal Structure:
-A Fractal high is validated when the subsequent candle fails to surpass its high (fractal pullback).
-A Fractal higher low is validated once the price breaches the Fractal high (always identify the NEAREST Fractal low). This will be the most recent candle that was unable to exceed the high of the previous candle.

Bearish Fractal Structure:
-A Fractal low is validated when the following candle fails to break its low (fractal pullback).
-A Fractal lower high is validated once the price breaks the Fractal low (always identify the NEAREST Fractal high). This will be the most recent candle that was unable to surpass the low of the previous candle.

BULLISH & BEARISH INTERNAL STRUCTURE
Bullish Internal Structure:
-An internal high is validated with 4 optional criteria.
-An internal higher low is validated when the internal high structure is broken. A higher low refers to the lowest price.

Bearish Internal Structure:
-An internal low is validated with 4 optional criteria.
-An internal lower high is validated when the internal high structure is broken. A lower high refers to the highest price.

Settings
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text when there is a BoS and CHoCH.
-Mark swing when there is a valid pullback, adjust the size and color.

Validation of pullback has 4 options for exploration, with the default value set to Fractal CHoCH 1 time:
1.Fractal CHoCH 1 time.
2.Fractal CHoCH and wait for Fractal BoS/Fractal CHoCH 3 times in a row.
3.PIP Rule, using PIP to determine the distance of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the PIP Rule. Change the style of lines and change the color of lines.
-In the PIP field, enter the PIP value you want to explore. In the 1 PIP Size field, enter the decimal places in the asset you are trading. For example, for the EUR/USD pair with decimals at position 4.
4.ATR Rule, utilizing ATR multiples to establish the range of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the ATR Rule. Change the style of lines and change the color of lines.
-ATR type allows you to choose from 5 ma types. ATR Period adjusts the backward-looking average value you want to explore. Multiple: Enter a multiplier value for ATR to match the volatility or asset you are trading.

If you choose only ATR Rule, the result is the validation of the pullback with ATR Rule only. If you choose more than 1 option, whichever condition is true, the validation pullback occurs immediately. If you don't choose anything, the default value is Internal CHoCH 1 time.

Swing internal structure
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.

Equilibrium internal
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.
-Adjust the percentage of Equilibrium.

EXTERNAL STRUCTURE MAPPING
Body breaks confirm an internal structure break.

BULLISH & BEARISH EXTERNAL STRUCTURE
Bullish external Structure:
-An external high is validated with 4 optional criteria.
-An external higher low is validated when the external high structure is broken. A higher low refers to the lowest price.

Bearish external Structure:
-An external low is validated with 4 optional criteria.
-An external lower high is validated when the external high structure is broken. A lower high refers to the highest price.

Settings
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text when there is a BoS and CHoCH.
-Mark swing when there is a valid pullback, adjust the size and color.

Validation of pullback has 4 options for exploration, with the default value set to Internal CHoCH 1 time:
1.Internal CHoCH 1 time.
2.Internal CHoCH and wait for Internal BoS/Internal CHoCH 3 times in a row.
3.PIP Rule, using PIP to determine the distance of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the PIP Rule. Change the style of lines and change the color of lines.
-In the PIP field, enter the PIP value you want to explore. In the 1 PIP Size field, enter the decimal places in the asset you are trading. For example, for the EUR/USD pair with decimals at position 4.
4.ATR Rule, utilizing ATR multiples to establish the range of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the ATR Rule. Change the style of lines and change the color of lines.
-ATR type allows you to choose from 5 ma types. ATR Period adjusts the backward-looking average value you want to explore. Multiple: Enter a multiplier value for ATR to match the volatility or asset you are trading.

If you choose only ATR Rule, the result is the validation of the pullback with ATR Rule only. If you choose more than 1 option, whichever condition is true, the validation pullback occurs immediately. If you don't choose anything, the default value is Internal CHoCH 1 time.

Swing external structure
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.

Equilibrium external
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.
-Adjust the percentage of Equilibrium.

The values of these 4 options are: 1. PIP Rule in the internal structure 2. ATR Rule in the internal structure 3. PIP Rule in the external structure 4. ATR Rule in the external structure
These 4 options will be displayed only when the rule is selected along with choosing to display the value.

DISCLAIMER
All investments involve risks. Profit or loss depends on your knowledge, understanding, and decisions.
My scripts/indicators/strategies are created for researching past price behavior only. They are not investment advice, and future results are not guaranteed.

版本注释

Fixed the bug in the fractal structure part that didn't draw a line when CHoCH occurred in some cases.

版本注释

Bug fixed in the PIP Rule and ATR Rule section.
Example of ATR Rule before the bug fix.

Example of ATR Rule after the bug fix.

版本注释

Fixed bug.
- Text and lines in the external structure can now be shown or hidden.
- PIP Rule and ATR Rule should be recalculated immediately in some cases.

版本注释

I have fixed the bug. The high and low of the price structure are now correct in some cases after the structure breaks.