Smart Money Concepts (Advanced)

The Smart Money Concepts (Advanced) indicator provides an enhanced toolkit for identifying institutional market structure, tracking real-time order blocks, and monitoring liquidity gaps. It builds upon foundational SMC principles by introducing a library-based approach to object tracking, allowing for dynamic updates to Fair Value Gaps (FVG) and the live detection of experimental Order Blocks (OB).

Usage

The Usage section describes how the script can be used to identify key institutional levels. The indicator automates the detection of market structure and supply/demand zones to help traders find high-probability entry and exit points.

• Market Structure Identification: The script automatically labels Break of Structure (BOS) and Change of Character (CHoCH) to confirm trend continuation or reversals.
• Live Order Block Tracking: Unlike traditional static blocks, these experimental OBs track consecutive candles opposing a trend in real-time. Traders can use these to identify potential rejection zones during pullbacks.
• Liquidity Analysis: By highlighting Equal Highs (EQH) and Equal Lows (EQL), the tool pinpoints areas where significant buy-side or sell-side liquidity is likely resting.
• Gap Filling: Fair Value Gaps are monitored with real-time fill levels, allowing users to see exactly how much of a gap remains unfilled.

Details

The indicator utilizes a modular structure powered by custom libraries (such as lib_smc and lib_no_delay) to ensure efficient execution and zero-lag calculations for moving averages.

A key feature is the Experimental Order Block logic. Standard SMC indicators typically wait for a confirmed swing point (often requiring 50+ bars) before plotting a block. This script tracks "unconfirmed" trends and candle sequences to plot OBs as they form, providing earlier insights into potential reversals.

The Fair Value Gap implementation includes a multi-timeframe (HTF) option, enabling traders to view daily or weekly gaps directly on lower-timeframe execution charts. The FVG logic also tracks the "fill ratio," providing a percentage-based view of how much price has retraced into the gap.

Settings

• Show Market Structure: Toggles the display of BOS and CHoCH labels.
• Swing Size: Adjusts the lookback period for determining major swing highs and lows.
• Order Block Size Filter: Uses an ATR-based multiplier to filter out OBs that are too small to be significant or too large (often caused by news spikes).
• Extend Until Broken/Filled: Determines whether OB and FVG boxes should continue to draw until price action invalidates them.
• FVG Timeframe: Allows the user to select a specific higher timeframe for gap detection.
• Filled at %: Sets the sensitivity for when a Fair Value Gap is considered "filled" (e.g., 60% or 100%).
• Equal High/Low Threshold: Adjusts the sensitivity for detecting price levels that are nearly identical, used for liquidity identification.

FAQ

How do I interpret the "Experimental" Order Blocks?
Experimental OBs appear based on immediate candle momentum rather than long-term swing confirmation. They are best used to identify early-stage pullbacks or reversals, though they should be validated with other confluence factors.

What does the FVG Fill Target Ratio do?
This setting defines at what point a Fair Value Gap is considered mitigated. For example, if set to 60%, the gap will be marked as "filled" or "mitigated" once price recovers 60% of the imbalance area.

How do I access the Smart Money Concepts (Advanced) indicator?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.