Swing Failure Pattern (BB-OB) Indicator for MT4 Download - Free

Swing Failure Pattern (SFP) Indicator is a practical tool in technical analysis that simultaneously displays key points like Break of Structure (BOS), Change of Character (CHoCH), and False Breakouts (FSP) on the chart. This indicator helps traders identify false breakouts and stay alert to market traps with trading risk awareness.

Indicator Specifications Table

Indicator at a Glance

The areas highlighted by the SFP Indicator are high-potential points for price reversals and entry into trades. This indicator is especially effective for traders in liquidity-based styles, including ICT (Inner Circle Trader) and Smart Money. The indicator displays CHOCH with a red line and BOS with a blue line.

Composite Indicator in an Uptrend

The following image displays the price chart of the British Pound against the Japanese Yen (GBP/JPY) in a 5-minute timeframe. The indicator identifies the Change of Character (CHoCH) pattern and marks it on the chart. After the CHoCH and price breakout, a suitable opportunity for long (buy) trades arises.

Composite Indicator in a Downtrend

The following image shows the price chart of the British Pound against the US Dollar (GBP/USD) in a 4-hour timeframe. Based on the image, the indicator detects CHoCH and a false breakout (SFP) and plots them on the chart. The price crossing the "CHoCH" zone and confirming the false breakout (SFP) creates a favorable entry point for short (sell) trades, indicating a continuation of the downtrend.

Indicator Settings

• Theme: Indicator background color;
• Mode of SFP: Display SFP type with both candle body and wick;
• Mode of Zone: Display with Order Block;
• Filter with BOS-CHOCK: Filter with BOS-CHOCK;
• Swing Major Filter: Display significant swings;
• Swing Minor Filter: Display minor swings;
• Swing in the Trend: Display swing in the trend;
• Swing Against the Trend: Display swing against the trend.

Conclusion

The Composite Failed Breakout Indicator (SFP) is a valuable tool for professional traders to identify false breakouts and reversal points in financial markets. This indicator is handy for Smart Money and ICT strategies and provides an accurate market trend analysis by displaying "BOS" and "CHoCH."