Market Structure Indicator (BOS-CHOCH) for MT 5 Download - Free - [TFlab]

The Market Structure Indicator (BOS-CHOCH) is ICT-style indicator in MetaTrader 5 (MT5).

By identifying both primary and secondary market character changes (CHOCH) and structure breakouts (BOS) at various levels, it presents trading opportunities for ICT and Smart Money traders.

This helps traders recognize market structure and provide more effective analyses of price trends.

Market Structure Indicator (BOS-CHOCH) Table

The table below contains the general information and specifications of the indicator:

Bullish Change of Character

The Market Structure Indicator (BOS-CHOCH) on the 1-hour Gold chart identifies the market's change of character from bearish to bullish, notifying traders of the occurrence of (CHOCH) by drawing a red line.

After the change of character, traders can enter a trade when the price returns to the order block that caused the change. After this return, the price moves upwards and continues its bullish trend.

Subsequently, the price breaks the market structure (BOS) and follows its upward movement with greater strength, leading to a sharp bullish trend in the market.

Bearish Trend

The Market Structure Break indicator has identified the market character change and structure break on the 15-minute (USD/CAD) chart. This indicator displays the change in market character in red and the structure break in blue, providing traders with the overall market structure.

This analytical tool is useful for ICT and Smart Money traders to better understand the price trend and identify suitable trading opportunities. By using this indicator, traders can make more precise analyses and execute their trading decisions with greater confidence.

Market Structure Indicator (BOS-CHOCH) Settings

In the image below, the settings for the Market Structure Indicator (BOS-CHOCH) are fully displayed:

General Setting

• How many candles to consider: Specifies the number of candles to be considered for calculating and displaying the indicator in the past based on candles;
• Trend Calculation type (ZigZag Candle): Selects the type of trend calculation based on ZigZag or Candle.

Conclusion

The Market Structure Indicator (BOS-CHOCH) is one of the Smart Money indicators in MetaTrader 5 (MT5) that displays trading opportunities for Smart Money and ICT traders by drawing trendlines to identify market structural changes.

This indicator, by detecting the Change of Character (CHOCH) and displaying it through a red line on the chart, enables better analysis of price trends. Additionally, it marks the Break of Structure (BOS) with blue lines, providing traders with a clearer perspective on trend changes.

The ability to identify both primary and secondary changes in this indicator allows traders to analyze the market's movement structures. This feature is provided to help traders confidently identify liquidity zones, order blocks, and market reversal points.