Swing Failure Pattern (BB-OB) Indicator for MT5 Download - Free

The Swing Failure Pattern (SFP)Indicator is a practical tool in MetaTrader 5 for identifying fake breakouts and key reversal points. This indicator simultaneously displays points like Break of Structure (BOS), Change of Character (CHoCH), and Fake Breakout (SFP) on the chart. It helps traders in price action, ICT, and Smart Money styles effectively detect failed breakouts.

Indicator Specifications Table

Composite Indicator in an Uptrend

In the following uptrend, the daily XAU/USD chart is shown. According to the image, the price is in an uptrend, and after a Break of Structure (BOS) in the direction of this trend, an SFP pattern forms. After this pattern forms, the price experiences a minor correction, creating an entry opportunity for a Long trade.

Composite Indicator in a Downtrend

The chart below shows the GBP/SGD currency pair in the 30-minute Timeframe. According to the image, the market's Change of Character (CHoCH) was fake, and after triggering stop-losses and gathering liquidity, the price formed the SFP pattern and continued its downtrend.

Indicator Settings

• Theme: Chart background color;
• Mode of SFP: Display SFP type with both candle body and wick;
• Mode of the zone: Display with Order Block;
• Filter with BOS-CHOCK: Filter with BOS CHOCK;
• Swing major filter: Display major swing;
• Swing minor filter: Display minor swing;
• Swing in the trend: Display swing in the trend;
• Swing against the trend: Display swing against the trend.

Conclusion

By combining the capabilities to detect structural breaks (BOS), character changes (CHoCH), and fake breakouts (SFP), this indicator is suitable for trading styles based on price action, ICT, and Smart Money. Traders can use this indicator to identify suitable Entry and Exit points and awareness of liquidity areas and stop-losses.