Market structure[TradeHub]

2024年10月12日

Short Term Low(STL): A swing low, which is surrounded by candles with lows higher from the low of the central candle.

Short Term High(STH): A swing high that is surrounded by candlesticks with highs lower than the centre candlestick.

Intermediate Term Low (ITL): A level on a price chart where the price dips to a relatively lower point compared to the surrounding prices within an intermediate timeframe.

Intermediate Term High (ITH): A level on a price chart where the price peaks to a relatively higher point compared to nearby prices over an intermediate period.

Long Term Low (LTL): An Intermediate Term Low (ITL) that is flanked by higher Intermediate Term Lows (ITLs) on both sides, suggesting a potential major trend reversal and marking a possible long-term shift.

Long Term High (LTH): An Intermediate Term High (ITH) that is bordered by lower Intermediate Term Highs (ITHs) on either side, signaling a possible major reversal and indicating a long-term trend change.

This script is programmed to automatically detect these formations on a price chart. It identifies ITH/ITL and LTH/LTL points to help traders and analysts easily understand the market structure and spot potential turning points. These patterns are commonly used to make decisions regarding trade entries and exits.

It's important to keep in mind that although these concepts are based on recurring patterns in historical price movements, trading and investing in financial markets carry significant risks. Having a thorough knowledge of technical analysis, risk management, and market behavior is crucial before making trading choices.

Advantages:

- Ability to select any number of neighbouring candles to determine STH / STL

- Showing STH/STL on the whole chart history

- Large ITH/ITL/LTH/LTL chart history

2024年10月14日

版本注释

Short Term Low(STL): A swing low, which is surrounded by candles with lows higher from the low of the central candle.

Short Term High(STH): A swing high that is surrounded by candlesticks with highs lower than the centre candlestick.

Intermediate Term Low (ITL): A level on a price chart where the price dips to a relatively lower point compared to the surrounding prices within an intermediate timeframe.

Intermediate Term High (ITH): A level on a price chart where the price peaks to a relatively higher point compared to nearby prices over an intermediate period.

Long Term Low (LTL): An Intermediate Term Low (ITL) that is flanked by higher Intermediate Term Lows (ITLs) on both sides, suggesting a potential major trend reversal and marking a possible long-term shift.

Long Term High (LTH): An Intermediate Term High (ITH) that is bordered by lower Intermediate Term Highs (ITHs) on either side, signaling a possible major reversal and indicating a long-term trend change.

This script is programmed to automatically detect these formations on a price chart. It identifies ITH/ITL and LTH/LTL points to help traders and analysts easily understand the market structure and spot potential turning points. These patterns are commonly used to make decisions regarding trade entries and exits.

It's important to keep in mind that although these concepts are based on recurring patterns in historical price movements, trading and investing in financial markets carry significant risks. Having a thorough knowledge of technical analysis, risk management, and market behavior is crucial before making trading choices.

Advantages:

- Ability to select any number of neighbouring candles to determine STH / STL

- Showing STH/STL on the whole chart history

- Large ITH/ITL/LTH/LTL chart history

Added the ability to track ITH/ITL/LTH/LTL breakdown.


You can add a notification for structure point(ITX/LTX) breakout on any asset and timeframe.

To do this, open the timeframe and chart of the desired pair, go to the alerts tab, select the indicator alert and the ‘Once per candle’ type.