Market Structures Screener

The Market Structures Screener tool provides real-time tracking of essential price action milestones across up to five different financial instruments simultaneously. It identifies critical market shifts such as Break of Structure (BOS) and Change of Character (CHoCH) to help traders understand trend transitions and directional bias across multiple timeframes.

Usage

The indicator acts as a multi-asset dashboard. Users can monitor different tickers to spot high-probability setup areas without manual chart switching.

• Trend Identification: Use BOS signals to confirm the continuation of an existing trend.
• Reversal Detection: Use CHoCH and CHoCH+ signals to identify early signs of trend reversals or shifts in market sentiment.
• Time Analysis: The screener displays the elapsed time since the most recent structure was formed, allowing you to gauge the recency of the move.

Details

The script utilizes pivot high and low point detection to map out market geometry.

• BOS (Break of Structure): Occurs when price continues in the direction of the current trend by breaking a previous pivot point.
• CHoCH (Change of Character): Occurs when price breaks a pivot point in the opposite direction of the current trend, signaling a potential shift.
• CHoCH+: A more sensitive detection algorithm designed to identify minor structural shifts that standard detection might miss.
• ATR Integration: The script uses Average True Range (ATR) to filter pivot points, ensuring that identified structures are statistically significant relative to market volatility.

Settings

• Tickers: Select up to 5 individual symbols and their specific timeframes to be scanned.
• Style: Customize the visual appearance of the dashboard, including table position (e.g., Top Center, Right Center) and background fills.
• Colors: Individual color pickers for Bullish, Bearish, and Neutral structural elements to match your chart theme.

FAQ

How do I interpret the time shown in the screener? The time indicates how long ago (in minutes, hours, or days) the specific market structure (BOS/CHoCH) was confirmed on that ticker's timeframe.

What is the difference between CHoCH and CHoCH+? CHoCH+ uses a more sensitive algorithm to detect character changes earlier, providing a faster hint of potential reversals compared to the standard CHoCH.

How do I access the Market Structures Screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.