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RunRox - Advanced SMC
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Introducing Our Advanced SMC Indicator: Elevate Your Smart Money Concept Trading
We are excited to present our innovative indicator designed specifically for the Smart Money Concept (SMC) strategy. Our approach goes beyond the traditional SMC strategy, bringing significant enhancements to help you achieve better trading results.
We employ a more sophisticated SMC structure incorporating IDM, precise retracements, extreme and local order blocks. This allows for a deeper understanding of market trends and insights into the manipulations of major market players.
What is IDM?
IDM, or Institutional Distribution Model, is a refined concept within SMC that focuses on understanding how institutional players distribute their positions within the market. By analyzing IDM, traders can better predict market movements and potential points of reversal, giving them a significant edge.
What is a Precise Retracement?
A precise retracement, according to our methodology, involves a proper candlestick pattern. If candles do not exceed the highs and lows of the previous candle, they are considered internal and are not counted in the market structure. A correct retracement occurs when candles break beyond the boundaries of the preceding candle
4 Types of Order Blocks
Our concept now includes four types of order blocks: CHoCH, IDM, Local, and BOS order blocks. Below, we will discuss the differences:
Understanding the distinctions between these order blocks and the market context is key to effectively utilizing them for successful trading.
By incorporating these advanced features, our SMC indicator provides a powerful tool for traders looking to enhance their trading strategies and achieve more consistent results.
Here are the main principles and differences in our strategy. We will discuss all the features and capabilities of our indicator in more detail below.
🟠 Example of Our Structure
Now we will demonstrate several examples of our structure to give you a better understanding of how our indicator works
As you can see in the screenshot above, we have three main components of our structure
This example demonstrates our entire structure, how it is built, and the core principles embedded within it. We have also highlighted the points used to form our structure. It's important to note that in the structure with IDM, the CHoCH is dynamic and moves closer to the IDM each time we break the BOS. This makes our structure more dynamic and sets us apart from the classic Smart Money strategy.
Additionally, I would like to show an example of how to work with order blocks in the Smart Money concept with IDM.
As you can see, some order blocks are considered traps for traders in this concept and are a constant problem in the classic structure.
The real market structure is much more complex than beginner traders perceive in the Smart Money concept. If a structural low is broken, the price can still continue its upward movement, updating the structural high because the nearest valid retracement update is merely a liquidity grab, which we refer to as IDM.
Therefore, it is common to observe in a downtrend that the price may break a high, leading Smart Money traders to believe that the price has reversed and the structure has changed (CHoCH), while in reality, the price continues its downward movement.
Inducement in trading is related to the collection of liquidity. Essentially, it is the liquidity created to make retail traders commit errors. IDM is often associated with the crowd's money, waiting for positions to be closed, such as stop-losses, limit orders, stop orders, and so on.
Now that I have explained the basics of our concept, let's move on to the functions of our indicator and trading examples.
🟠 Indicator Features:
Let me describe some of the indicator's features
You can set the candles to be colored according to the trend. In some situations, this is very convenient. For example, when the structure becomes quite large, it helps to easily see the current trend without having to refer back to the beginning of the structure.
You can select any date and time as the starting point for the analysis. This unique feature allows you to test any of your market hypotheses at any given moment. I believe this will be beneficial for every trader using the Smart Money Concept.
Sometimes larger structures emerge, and in such cases, it will be convenient to trade based on the internal structure. All dotted lines represent the internal structure, which differs from the external one. This feature is particularly helpful when trading in volatile markets.
In the image, you can see all the types of order blocks we identify:
Additionally, you may encounter mixed order blocks on the chart. In situations where IDM and CHoCH are close to each other, you will see IDM + CHoCH blocks.
Outside the main structure, we mark previous blocks with the label Old, such as Old CHoCH OB and other variations.
We also annotate the volume in all order blocks, showing the traded volume within the candle range near the formation of the order block. This can help you assess the strength of the order block on the chart.
It's important to note that an order block does not necessarily have to be at the peak of a price retracement. For a valid order block to form, several criteria must be met simultaneously. One criterion, for example, is the presence of an FVG along with the order block, among other parameters. Therefore, our order blocks may not always be at the highest points on the chart, but prices often react to our order blocks before reaching the previous high. This is a crucial point to understand.
🟠 Usage Examples
As seen in the example, we broke the structure (CHoCH), transitioning into a downtrend. Now, our points of interest are in the upper blocks. As you remember, IDM acts as a trap for traders, so we focus on the order blocks beyond the IDM. In our case, these are the IDM OB and CHoCH OB. These two order blocks will be our points of interest, depending on the reaction to each of them
As you can see, we broke through the IDM OB rapidly without any significant reaction and reached our second point of interest. This becomes our entry point as we got a reaction from this block. In this scenario, our target will be to break the BOS structure and confirm the downtrend.
Let me provide another example of using the indicator for trend trading.
In this case, we observe a CHoCH break and a trend shift to bullish. Following this, we see an upward movement until the formation of our IDM and a liquidity grab from the high. After this, we can look for our point of interest at the lower boundary.
Additionally, our zone of interest can be an order block from a higher timeframe. In this example, it is a 4-hour order block. Remember, we are currently on the 1-hour timeframe and using the indicator to display order blocks from the higher timeframe.
After descending into our zone of interest, we could consider buying in this zone. Our target could either be breaking the BOS as confirmation of the bullish structure or a reaction to the order block from a higher timeframe.
We've provided two examples of using the indicator, but in reality, there are countless variations, and each trader will find a way to incorporate the indicator into their strategy. While our indicator can be a standalone tool for forming a trading strategy, it offers immense flexibility and adaptability to suit individual trading styles.
🟠 Settings
Let's take a closer look at the settings available in our indicator:
Alerts
We hope that these highly flexible settings will allow you to customize the indicator exactly the way you want it on your chart. Additionally, the alerts will help you stay informed of any potential events.
🟠 Disclaimer
Past performance is not indicative of future results. To trade successfully, it is crucial to have a thorough understanding of the market context and the specific situation at hand. Always conduct your own research and analysis before making any trading decisions.
To gain access to the indicator, please review the author's instructions below this post
We are excited to present our innovative indicator designed specifically for the Smart Money Concept (SMC) strategy. Our approach goes beyond the traditional SMC strategy, bringing significant enhancements to help you achieve better trading results.
We employ a more sophisticated SMC structure incorporating IDM, precise retracements, extreme and local order blocks. This allows for a deeper understanding of market trends and insights into the manipulations of major market players.
What is IDM?
IDM, or Institutional Distribution Model, is a refined concept within SMC that focuses on understanding how institutional players distribute their positions within the market. By analyzing IDM, traders can better predict market movements and potential points of reversal, giving them a significant edge.
What is a Precise Retracement?
A precise retracement, according to our methodology, involves a proper candlestick pattern. If candles do not exceed the highs and lows of the previous candle, they are considered internal and are not counted in the market structure. A correct retracement occurs when candles break beyond the boundaries of the preceding candle
4 Types of Order Blocks
Our concept now includes four types of order blocks: CHoCH, IDM, Local, and BOS order blocks. Below, we will discuss the differences:
- CHoCH OB - These are order blocks located closest to the Change of Character (CHoCH).
- IDM OB - These order blocks are positioned next after the Institutional Distribution Model (IDM).
- Local OB - These blocks are either within the IDM range or in areas that do not fit any specific criteria. We refer to these as local order blocks.
- BOS OB - These blocks are located closest to the Break of Structure (BOS) line.
Understanding the distinctions between these order blocks and the market context is key to effectively utilizing them for successful trading.
By incorporating these advanced features, our SMC indicator provides a powerful tool for traders looking to enhance their trading strategies and achieve more consistent results.
Here are the main principles and differences in our strategy. We will discuss all the features and capabilities of our indicator in more detail below.
🟠 Example of Our Structure
Now we will demonstrate several examples of our structure to give you a better understanding of how our indicator works
As you can see in the screenshot above, we have three main components of our structure
- CHoCH (Change of Character): Price breaks a higher low (in an uptrend) or lower low (in a downtrend) directly after sweeping the recent pivot high or low.
- BOS (Break of Structure): Price breaks a higher high (in an uptrend) or a lower low (in a downtrend).
- IDM (Institutional Distribution Model): This represents liquidity that the market seeks to capture. The market moves to take out liquidity pockets before reversing in the intended direction.
This example demonstrates our entire structure, how it is built, and the core principles embedded within it. We have also highlighted the points used to form our structure. It's important to note that in the structure with IDM, the CHoCH is dynamic and moves closer to the IDM each time we break the BOS. This makes our structure more dynamic and sets us apart from the classic Smart Money strategy.
Additionally, I would like to show an example of how to work with order blocks in the Smart Money concept with IDM.
As you can see, some order blocks are considered traps for traders in this concept and are a constant problem in the classic structure.
The real market structure is much more complex than beginner traders perceive in the Smart Money concept. If a structural low is broken, the price can still continue its upward movement, updating the structural high because the nearest valid retracement update is merely a liquidity grab, which we refer to as IDM.
Therefore, it is common to observe in a downtrend that the price may break a high, leading Smart Money traders to believe that the price has reversed and the structure has changed (CHoCH), while in reality, the price continues its downward movement.
Inducement in trading is related to the collection of liquidity. Essentially, it is the liquidity created to make retail traders commit errors. IDM is often associated with the crowd's money, waiting for positions to be closed, such as stop-losses, limit orders, stop orders, and so on.
Now that I have explained the basics of our concept, let's move on to the functions of our indicator and trading examples.
🟠 Indicator Features:
- Start Date of Structure Building: Choose the starting point for building the structure on the chart.
- CHoCH | BOS | IDM: Display any components from this structure.
- Market SubStructure: External and internal structure.
- Main and Internal Zigzag: Zigzag for understanding the structure.
- BOS/CHoCH Breaking by (Body | Wick): Choose the principle for building the structure, either by the candle body or by their wicks.
- BOS/CHoCH Move if Swept: When liquidity is taken, decide whether to move the structure line higher or consider it a structural break.
- Color Candles: Color the structure according to the trend color.
- Current OrderBlock: Display 4 types of OrderBlocks from the current timeframe.
- Higher TimeFrame OrderBlock (Any timeframe): Display OrderBlocks from any timeframe you prefer.
- OrderBlock Sensitivity (Low | Medium | High): Choose the sensitivity level for displaying OrderBlocks.
- Fills Method for FVG/OB (Touch | Midline | Complete): Select the fill method that determines when FVG and OrderBlock are considered fulfilled.
- OrderBlock Based on (Full Candle | Body): Choose the principle for constructing OrderBlock, either by the full candle or only by the candle body.
- CHoCH | IDM | Local | BOS OrderBlock/FVG: Show or hide 4 types of OrderBlocks and FVG. Customize each one by color, what exactly to display on the chart, etc.
- OrderBlock Volume: Observe the strength of OrderBlocks by their intensity.
- Highlight All FVG/Imbalance: Display emerging FVGs on the chart without OrderBlocks.
- Customizable Alerts: Set up any alerts you want
Let me describe some of the indicator's features
You can set the candles to be colored according to the trend. In some situations, this is very convenient. For example, when the structure becomes quite large, it helps to easily see the current trend without having to refer back to the beginning of the structure.
You can select any date and time as the starting point for the analysis. This unique feature allows you to test any of your market hypotheses at any given moment. I believe this will be beneficial for every trader using the Smart Money Concept.
Sometimes larger structures emerge, and in such cases, it will be convenient to trade based on the internal structure. All dotted lines represent the internal structure, which differs from the external one. This feature is particularly helpful when trading in volatile markets.
In the image, you can see all the types of order blocks we identify:
- CHoCH OB - Order blocks located closest to the Change of Character (CHoCH).
- IDM OB - Order blocks that follow the Institutional Distribution Model (IDM).
- Local OB - These blocks are either within the IDM range or in areas that do not fit any specific criteria. We refer to these as local order blocks.
- BOS OB - Order blocks located closest to the Break of Structure (BOS) line.
Additionally, you may encounter mixed order blocks on the chart. In situations where IDM and CHoCH are close to each other, you will see IDM + CHoCH blocks.
Outside the main structure, we mark previous blocks with the label Old, such as Old CHoCH OB and other variations.
We also annotate the volume in all order blocks, showing the traded volume within the candle range near the formation of the order block. This can help you assess the strength of the order block on the chart.
It's important to note that an order block does not necessarily have to be at the peak of a price retracement. For a valid order block to form, several criteria must be met simultaneously. One criterion, for example, is the presence of an FVG along with the order block, among other parameters. Therefore, our order blocks may not always be at the highest points on the chart, but prices often react to our order blocks before reaching the previous high. This is a crucial point to understand.
🟠 Usage Examples
As seen in the example, we broke the structure (CHoCH), transitioning into a downtrend. Now, our points of interest are in the upper blocks. As you remember, IDM acts as a trap for traders, so we focus on the order blocks beyond the IDM. In our case, these are the IDM OB and CHoCH OB. These two order blocks will be our points of interest, depending on the reaction to each of them
As you can see, we broke through the IDM OB rapidly without any significant reaction and reached our second point of interest. This becomes our entry point as we got a reaction from this block. In this scenario, our target will be to break the BOS structure and confirm the downtrend.
Let me provide another example of using the indicator for trend trading.
In this case, we observe a CHoCH break and a trend shift to bullish. Following this, we see an upward movement until the formation of our IDM and a liquidity grab from the high. After this, we can look for our point of interest at the lower boundary.
Additionally, our zone of interest can be an order block from a higher timeframe. In this example, it is a 4-hour order block. Remember, we are currently on the 1-hour timeframe and using the indicator to display order blocks from the higher timeframe.
After descending into our zone of interest, we could consider buying in this zone. Our target could either be breaking the BOS as confirmation of the bullish structure or a reaction to the order block from a higher timeframe.
We've provided two examples of using the indicator, but in reality, there are countless variations, and each trader will find a way to incorporate the indicator into their strategy. While our indicator can be a standalone tool for forming a trading strategy, it offers immense flexibility and adaptability to suit individual trading styles.
🟠 Settings
Let's take a closer look at the settings available in our indicator:
- Start Date of Structure Building
- Apply Date Filter to OrderBlock
- CHoCH | BOS | IDM - Turn Off/On + Color Style
- Show Market SubStructure
- Draw ZigZag + Style
- Draw Inner ZigZag + Style
- Color Candles + Style
- BOS Breaking by (Body or Wick) + Move if Swept
- CHoCH Breaking by (Body or Wick) + Move if Swept
- Show Current TF Blocks
- Show Higher TF Blocks (Any Timeframe)
- OB Sensitivity (Low | Medium | High)
- Fills Method for OB (Touch | Midline | Complete)
- Fills Method for FVG (Touch | Midline | Complete)
- OrderBlock Based on (Full Candle | Body)
- Block Transparency (%)
- CHoCH | BOS | IDM | Local OB - Turn Off/On + Style color
- CHoCH | BOS | IDM | Local FVG - Turn Off/On + Style color
- Highlight All FVGs + Color
- Show OB Volume
- Show Young Blocks
- Hide Distance Blocks
- Delete Filled OBs | FVGs
- Delete Filled Blocks Label
Alerts
- CHoCH | BOS Break
- Price is Near CHoCH | BOS - %
- Touch CHoCH Bullish OBs (Bottom | Middle | Top)
- Touch CHoCH Bearish OBs (Bottom | Middle | Top)
- Touch BOS Bullish OBs (Bottom | Middle | Top)
- Touch BOS Bearish OBs (Bottom | Middle | Top)
- Touch IDM Bullish OBs (Bottom | Middle | Top)
- Touch IDM Bearish OBs (Bottom | Middle | Top)
- Custom Alerts for Developers
We hope that these highly flexible settings will allow you to customize the indicator exactly the way you want it on your chart. Additionally, the alerts will help you stay informed of any potential events.
🟠 Disclaimer
Past performance is not indicative of future results. To trade successfully, it is crucial to have a thorough understanding of the market context and the specific situation at hand. Always conduct your own research and analysis before making any trading decisions.
To gain access to the indicator, please review the author's instructions below this post
Notes de version
Added:- - New Orderblock Type: Extreme OB
- - New FVG Type: Extreme FVG
- - Ability to absorb FVG while it is young
- - New Notification Type: Ext. Bullish and Ext. Bearish OB
Fixed:
- - Double OBs in some cases
- - Script error when deleting and re-adding to the chart
- - Several minor bugs
Notes de version
Changed- Minor changes
Notes de version
Changed- Minor changes
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