This ‘Smart Money’ indicator is intended to highlight market structure. It will point out when price has made a ‘Change Of Character’ (CHOCH) or a ‘Break Of Structure’ (BOS) and alerts to popup, push & email.

• Displays both bullish and bearish Choch & BOS market structure
• Option to display only bullish or bearish Choch & BOS market structure
• Adjust how many candles to look back for Choch & BOS market structure
• Adjustable ‘depth’ setting for selection of minor to major swing-points
• 3 Selectable Alerts – Choose from Choch & BOS, Choch only, BOS only
• Alerts to Popup, Push & Email

Not familiar with “Smart Money” concepts? Want to learn?

All of my products come with 25+ hours of Smart Money video courses (in full HD) by some of my mentors, a VERY valuable education!

$29 – Purchase the Choch & BOS indicator package via Paypal

Instant download after payment

Choch & BOS MT4 Indicator

The ultimate ‘Smart Money Concepts’ Market Structure & Trend Reversal Indicator

This indicator is intended to highlight market structure:

• Choch – Change Of Character (the first sign of a possible change in trend direction)
• BOS – Break Of Structure (a sign of continuous order flow in the current trend direction)

It has 3 different Alerts:

• Choch (Change Of Character)
• BOS (Break Of Structure)
• Choch & BOS (both in that order – a Trend Reversal alert)

The alerts are designed to inform a trader when a particular setup occurs, without the need to sit on the charts for long periods of time waiting for these patterns to play out live.

What is a Choch? – Change Of Character (the first sign of a possible change in trend direction)

What is a BOS? – Break Of Structure (a sign of continuous order flow in the current trend direction)

Choch & BOS – A Trend Reversal Pattern

The CHOCH is the FIRST sign of a possible trend reversal, and if followed up with a BOS it offers a higher confirmation of a trend reversal (opposed to the Choch by itself)

The Choch & BOS alert helps keep you OUT of bad trades!

Are you always trying to catch the top/bottom REVERSAL of a trend and you keep getting taken out?

Stop doing that!

This indicator will help you from continuously falling into that trap, because if you WAIT for both the Choch AND the BOS to occur before you take a trade you stand a much better chance of that trade being successful.

Choch & BOS MT4 Indicator

• === Choch Settings ===
• Bull Choch color – Select the color of your choice
• Bear Choch color – Select the color of your choice
• Choch Line Style – Select the style of the Choch lines (solid, dot, etc)
• === BOS Settings ===
• Bull BOS color – Select the color of your choice
• Bear BOS color – Select the color of your choice
• BOS Line Style – Select the style of the BOS lines (solid, dot, etc)
• === Display Settings ===
• Display Option – Allows you to display:
  • Both Bullish and Bearish Choch & BOS
  • Bullish Choch & BOS only
  • Bearish Choch & BOS only
  • Hide all Choch & BOS
• Look-back Candle – Set the amount of candles that the indicator will look back to highlight Choch & BOS market structure
• Depth of Zigzag (Minimum: 4, Maximum: 36) – This setting determines the minimum number of bars without a second maximum or minimum deviation of the bar. (Changing this setting parameters will change the length of the swings)
• === Alerts ===
• Alert Option – Allows you to select:
  • Alert on Choch & BOS
  • Alert on any Choch
  • Alert on any BOS
  • No alerts
• Popup Alert – Alert will trigger the popup window and an alert sound
• Push Alert – Alert will trigger a message sent to your cell phone
• Email Alert – Alert will trigger a message sent to your email address

Indicator Display Options:

Depth of Zigzag 

This indicator utilizes a ‘Depth of Zigzag’ setting to allow you to choose the strength/size of market structure swing-points on any timeframe (because this can be a very subjective issue when it comes to individual traders). This indicator’s ‘Depth of Zigzag’ setting is where you can make your own decisions on important market structure swing-points. Changing this parameter will affect the indicators algorithm and make the indicator turn at (stronger or weaker) high and low swing-points.

The question then becomes: which of these are valid, according to the naked eye?

Not everybody will agree on the same answer. This is the very reason why I considered it important to allow this setting to be adjusted by the user…

Here are a few examples of different ‘Depth of Zigzag’ settings (on the same chart) to highlight the difference:

Depth of Zigzag = 4

Depth of Zigzag = 12

Depth of Zigzag = 24

Depth of Zigzag = 36

You can trigger Alerts for Choch’s ONLY by setting the ‘Alert Option’ to ‘Any Choch’ (Note that wicks do NOT count & the alert will only trigger when the ‘qualifying’ candle CLOSES):

You can trigger Alerts for BOS’s ONLY by setting the ‘Alert Option’ to ‘Any BOS’ (Note that wicks do NOT count & the alert will only trigger when the ‘qualifying’ candle CLOSES):

You can trigger Alerts for Choch & BOS ONLY by setting the ‘Alert Option’ to ‘Choch and BOS’.

It’s the SAFEST trade entry pattern for a trend reversal (opposed to taking a trade entry on a ‘choch’ pattern alone).

Note: BOTH the Choch and the BOS are required in THAT ORDER, and the alert will trigger AFTER the BOS occurs.

Bullish Choch & BOS Alert:

• The Choch & BOS Alert triggers when the qualifying candle CLOSES above the previous (BOS) swing-high
• You then mark-up the ‘current range’ and WAIT for price to retrace back into that range (preferably into the ‘discount’ region – IE: past the 50% level) into a FVG or order block
• The trade entry in this case was when price hit the previous bullish order block…

Bearish Choch & BOS Alert:

• The Choch & BOS Alert triggers when the qualifying candle CLOSES below the previous (BOS) swing-low
• You then mark-up the ‘current range’ and WAIT for price to retrace back into that range (preferably into the ‘premium’ region – IE: past the 50% level) into a FVG or order block
• The trade entry in this case was when price hit the previous bearish order block…

Not familiar with “Smart Money” concepts? Want to learn?

All of my products come with 25+ hours of Smart Money video courses (in full HD) by some of my mentors, a VERY valuable education!

$29 – Purchase the Choch & BOS indicator package via Paypal

Instant download after payment

This indicator is one of a collection of eight ‘Smart Money’ Indicators for MT4:

• • • Breaker Blocks
    • Choch & BOS
    • Fair Value Gaps
    • Kill Zones

• • • Order Blocks
    • Origin Order Blocks
    • POI Box & 50% Fib
    • Unmitigated Order Blocks