OPEN-SOURCE SCRIPT

Market Structure MA Based BOS [liwei666]

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🎲 Overview

🎯 This BOS(Break Of Structure) indicator build based on different MA such as EMA/RMA/HMA, it's usually earlier than pivothigh() method
when trend beginning, customer your BOS with 2 parameters now.


🎲 Indicator design logic

🎯 The logic is simple and code looks complex, I‘ll explain core logic but not code details.

1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under,
not use func ta.pivothigh()/ta.pivotlow()
2. once price reaching EMA’s SWING High/Low, draw a line link High/Low to current bar, labled as BOS
3. find regular pattern benefit your trading.


🎲 Settings

🎯 there are 4 input properties in script, 2 properties are meaningful in 'GRP1' another 2 are display config in 'GRP2'.

GRP1
  • MA_Type: MA type you can choose(EMA/RMA/SMA/HMA), default is 'HMA'.
  • short_ma_len: MA length of your current timeframe on chart

GRP2
  • show_short_zz: Show short_ma Zigzag
  • show_ma_cross_signal: Show ma_cross_signal



🎲 Usage

🎯 BOS signal usually worked fine in high volatility market, low volatility is meaningless.

🎯 We can see that it performs well in trending market of different symbols, and BOS is an opportunity to add positions

BTCUSDTPERP
snapshot

ETHUSDTPERP
snapshot

🎯 MA Based signal is earlier than pivothigh()/pivotlow() method when trend beginning. it means higher profit-loss rate.

🎯 any questions or suggestion please comment below.

Additionally, I plan to publish 20 profitable strategies in 2023; indicatior not one of them,
let‘s witness it together!

Hope this indicator will be useful for you :)

enjoy! 🚀🚀🚀
Notes de version
add alert for BOS High/Low at the request of a friend, alert has been tested.
demo message like "BOS Low, BTCUSDTPERP, 21122.6, 2023-01-16T06:33:00Z"
Note: set Trigger to once per bar closed to avoid mistake.
alertBOSExponential Moving Average (EMA)High-Low IndexHull Moving Average (HMA)marketstructuretrendtrendtrading

Script open-source

Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?

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