Trapper Market Structure (HH, HL, LH, LL) - Dashboard

The Trapper Market Structure (HH, HL, LH, LL) - Dashboard indicator provides a real-time visual framework for identifying price action market structure through pivot-based logic. It automatically classifies and labels structural highs and lows to help traders determine trend direction and potential reversal points.

Usage

The tool is primarily used to track market trends by identifying sequences of Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL). Traders can use these labels to:

• Trend Identification: An uptrend is typically characterized by a sequence of HHs and HLs, while a downtrend consists of LHs and LLs.
• Entry Points: Identifying a Higher Low during a bullish trend can signal a potential entry point for long positions.
• Break of Structure (BoS): When price fails to make a new HH and instead forms a LH followed by a LL, it suggests a potential bearish trend reversal.
• Visual Flow: Connecting lines can be enabled to visualize the path of price movement between structural points, making it easier to see the current market state.

Details

The script utilizes ta.pivothigh and ta.pivotlow functions to detect local swing points. A pivot is confirmed once price has moved a specific number of bars (Pivot Strength) away from the high or low. The indicator then compares the current confirmed pivot to the previous one of the same type to determine its label.

The indicator includes an "Auto Adjust" feature that modifies the pivot sensitivity based on the active timeframe. Lower timeframes use smaller lookback periods for increased responsiveness, while higher timeframes use larger periods to filter out market noise and focus on major structural shifts.

Settings

Logic

• Auto Adjust Pivot Strength by Timeframe?: When enabled, the script automatically changes the pivot detection sensitivity based on the chart's timeframe.
• Manual Pivot Strength: Sets the number of bars required on each side to confirm a pivot point if Auto Adjust is disabled.

Visibility

• Show labels (HH, LH, HL, LL): Individual toggles to enable or disable specific market structure labels.
• Show Connecting Lines: Draws lines connecting consecutive pivot highs and consecutive pivot lows.
• Show Dashboard: Enables a summary table in the top-right corner displaying the price values of the most recent structural points.

Styling

• Dashboard Colors: Customizes the background colors for high and low categories in the dashboard.
• Label & Line Colors: Adjusts the visual appearance of the labels and connecting lines on the chart.

FAQ

How do I access the Trapper Market Structure (HH, HL, LH, LL) - Dashboard?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Does this indicator repaint?

Pivots require a certain number of bars to be confirmed (defined by the Pivot Strength). While the labels appear "backwards" by several bars once confirmed, they do not change once the confirmation period has passed.

Can I set alerts for structural changes?

Yes, the script includes alert conditions for each structural point (HH, LH, HL, LL) as well as a generic alert for any market structure change.