Market Structure Indicator with Zigzag MT5 Download – Free – [TFlab]

The Market Structure and Liquidity Sweep with Zigzag indicator is developed based on the ICT trading style. This tool identifies and displays concepts such as Change of Character (CHoCH), Break of Structure (BOS), and Liquidity Sweep.

Additionally, it uses a Zigzag line to plot the price movement trend and highlight its important and influential levels.

Specifications Table Market Structure Inducement & Sweep with Zigzag

The table below describes the specifications of the Market Structure and Liquidity Sweep with Zigzag indicator:

Market Structure Inducement & Sweep with Zigzag – At a Glance

The Market Structure and Liquidity Sweep with Zigzag indicator determines the overall trend direction by analyzing price swing points. These points include:

• Higher Highs (MHH)
• Higher Lows (MHL)
• Lower Highs (MLH)
• Lower Lows (MLL)

Bullish Trend Conditions

Based on the Ethereum (ETH) 30-minute chart, after a Change of Character (CHoCH) occurred, the price reversed direction and moved upward.

Then, multiple Breaks of Structure and the formation of higher highs and higher lows confirmed the continuation of the bullish trend.

Additionally, small retracements were for the purpose of liquidity grabs (LQDT), further strengthening the bullish momentum.

Bearish Trend Conditions

Based on the EUR/USD 1-hour chart analysis, a Change of Character (CHoCH) first appeared, indicating the start of a downward trend.

Subsequently, the formation of lower highs along with consecutive Breaks of Structure in the downtrend confirmed the persistence of selling pressure and dominance of sellers in the market.

Indicator Settings – Market Structure Inducement & Sweep with Zigzag

The settings of the Market Structure and Liquidity Sweep with Zigzag indicator are as shown in the image below:

• Candles to check: Number of candles for market structure analysis
• Swing CHoCH: Distance or sensitivity for Change of Character detection
• Swing BOS: Sensitivity for Break of Structure detection
• Swing Inducement: Criteria for price inducement identification based on distance and movement intensity
• Showing the zigzag: Display of Zigzag lines on the chart

Conclusion

The Market Structure and Liquidity Sweep with Zigzag indicator, based on ICT style, identifies and plots concepts such as Change of Character, Break of Structure, and Liquidity Sweep.

Additionally, by using the Zigzag algorithm, it determines the structure of market movement and labels swing highs and lows.