Market Structure MTF Trend

The Market Structure MTF Trend [Pt] indicator tracks and visualizes multi-timeframe market structure shifts to help traders identify trend reversals and continuations.

Usage

The indicator identifies two primary types of structural shifts:

• Change of Character (CHoCH): Represents an initial shift in market behavior, often signaling a potential reversal as momentum fades.
• Break of Structure (BoS): Confirms a more definitive trend by surpassing previous swing highs or lows, signaling trend continuation.

Traders can monitor up to four different timeframes simultaneously. The script displays colored bars at the bottom of the chart to provide an instant snapshot of the trend status for each selected interval. Dotted lines and labels (CHoCH/BoS) are drawn directly on the price chart to pinpoint exactly where these structural breaks occurred. This is particularly useful for identifying "top-down" confluence, where multiple timeframes align in the same direction.

Details

The script utilizes pivot highs and lows to define the market structure. The "Pivot Strength" setting determines the lookback period required to confirm a swing point; a higher value filters out minor price noise, while a lower value makes the indicator more sensitive to micro-movements. The indicator also includes a "Lower than chart TF?" toggle to ensure accurate calculations when viewing higher timeframe data on lower interval charts or vice versa.

Settings

Timeframe 1 - 4

Each of the four timeframe slots includes the following settings:

• Timeframe: The specific interval to monitor (e.g., 15m, 1h, 4h).
• Pivot Strength: Adjusts the sensitivity of swing high/low detection.
• Lower than chart TF?: A toggle to optimize data fetching based on whether the selected timeframe is lower than the current chart interval.
• CHoCH/BoS Colors: Customizable colors for bullish and bearish structural shifts.
• Show on chart: Toggles the visibility of labels and trendlines for that specific timeframe.

FAQ

How do I access Market Structure MTF Trend [Pt]?

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

What is the difference between CHoCH and BoS?

CHoCH is the first sign of a potential change in trend direction (a "character" shift), while a BoS is a confirmation that the market has broken through a previous structure to establish a new trend leg.

Can I use this for scalping?

Yes, by setting the timeframes to lower intervals (e.g., 1m, 5m, 15m) and reducing the Pivot Strength, the indicator can be tuned for fast-paced scalping environments.