Market Structure MA Based BOS [liwei666]

liwei666 已更新   

🎲 Overview

🎯 This BOS(Break Of Structure) indicator build based on different MA such as EMA/RMA/HMA, it's usually earlier than pivothigh() method
when trend beginning, customer your BOS with 2 parameters now.

🎲 Indicator design logic

🎯 The logic is simple and code looks complex, I‘ll explain core logic but not code details.

1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under,
not use func ta.pivothigh()/ta.pivotlow()
2. once price reaching EMA’s SWING High/Low, draw a line link High/Low to current bar, labled as BOS
3. find regular pattern benefit your trading.

🎲 Settings

🎯 there are 4 input properties in script, 2 properties are meaningful in 'GRP1' another 2 are display config in 'GRP2'.

  • MA_Type: MA type you can choose(EMA/RMA/SMA/HMA), default is 'HMA'.
  • short_ma_len: MA length of your current timeframe on chart
  • show_short_zz: Show short_ma Zigzag
  • show_ma_cross_signal: Show ma_cross_signal

🎲 Usage

🎯 BOS signal usually worked fine in high volatility market, low volatility is meaningless.

🎯 We can see that it performs well in trending market of different symbols, and BOS is an opportunity to add positions



🎯 MA Based signal is earlier than pivothigh()/pivotlow() method when trend beginning. it means higher profit-loss rate.

🎯 any questions or suggestion please comment below.

Additionally, I plan to publish 20 profitable strategies in 2023; indicatior not one of them,
let‘s witness it together!

Hope this indicator will be useful for you :)

enjoy! 🚀🚀🚀
add alert for BOS High/Low at the request of a friend, alert has been tested.
demo message like "BOS Low, BTCUSDTPERP, 21122.6, 2023-01-16T06:33:00Z"
Note: set Trigger to once per bar closed to avoid mistake.
Enhanced version has been published.

本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。