OPEN-SOURCE SCRIPT
Updated Market Structure Trend Change by TenAMTrader
Market Structure Trend Change Indicator
Description:
This indicator detects changes in market trend by analyzing swing highs and lows to identify Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL). It helps traders quickly see potential reversals and trend continuation points.
Features:
Automatically identifies pivots based on configurable left and right bars.
Labels pivot points (HH, HL, LH, LL) directly on the chart (text-only for clarity).
Generates buy and sell signals when a trend change is detected:
Buy Signal: HL after repeated LLs.
Sell Signal: LH after repeated HHs.
Fully customizable signal appearance: arrow type, circle, label, color, and size.
Adjustable minimum number of repeated highs or lows before a trend change triggers a signal.
Alerts built in for automated notifications when buy/sell signals occur.
Default Settings:
Optimized for a 10-minute chart.
Default “Min repeats before trend change” and pivot left/right bars are set for typical 10-min price swings.
User Customization:
Adjust the “Pivot Left Bars,” “Pivot Right Bars,” and “Min repeats before trend change” to match your trading style, chart timeframe, and volatility.
Enable pivot labels for visual clarity if desired.
Set alerts to receive notifications of trend changes in real time.
How to Use:
Apply the indicator to any chart and timeframe. It works best on swing-trading or trend-following strategies.
Watch for Buy/Sell signals in conjunction with your other analysis, such as volume, support/resistance, or other indicators.
Legal Disclaimer:
This indicator is provided for educational and informational purposes only. It is not financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Users should trade at their own risk and are solely responsible for any gains or losses incurred.
Description:
This indicator detects changes in market trend by analyzing swing highs and lows to identify Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL). It helps traders quickly see potential reversals and trend continuation points.
Features:
Automatically identifies pivots based on configurable left and right bars.
Labels pivot points (HH, HL, LH, LL) directly on the chart (text-only for clarity).
Generates buy and sell signals when a trend change is detected:
Buy Signal: HL after repeated LLs.
Sell Signal: LH after repeated HHs.
Fully customizable signal appearance: arrow type, circle, label, color, and size.
Adjustable minimum number of repeated highs or lows before a trend change triggers a signal.
Alerts built in for automated notifications when buy/sell signals occur.
Default Settings:
Optimized for a 10-minute chart.
Default “Min repeats before trend change” and pivot left/right bars are set for typical 10-min price swings.
User Customization:
Adjust the “Pivot Left Bars,” “Pivot Right Bars,” and “Min repeats before trend change” to match your trading style, chart timeframe, and volatility.
Enable pivot labels for visual clarity if desired.
Set alerts to receive notifications of trend changes in real time.
How to Use:
Apply the indicator to any chart and timeframe. It works best on swing-trading or trend-following strategies.
Watch for Buy/Sell signals in conjunction with your other analysis, such as volume, support/resistance, or other indicators.
Legal Disclaimer:
This indicator is provided for educational and informational purposes only. It is not financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Users should trade at their own risk and are solely responsible for any gains or losses incurred.
Release Notes
Market Structure Trend Change IndicatorDescription:
This indicator detects changes in market trend by analyzing swing highs and lows to identify Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL). It helps traders quickly see potential reversals and trend continuation points.
Features:
Automatically identifies pivots based on configurable left and right bars.
Labels pivot points (HH, HL, LH, LL) directly on the chart (text-only for clarity).
Generates buy and sell signals when a trend change is detected:
Buy Signal: HL after repeated LLs.
Sell Signal: LH after repeated HHs.
Fully customizable signal appearance: arrow type, circle, label, color, and size.
Adjustable minimum number of repeated highs or lows before a trend change triggers a signal.
Alerts built in for automated notifications when buy/sell signals occur.
Default Settings:
Optimized for a 10-minute chart.
Default “Min repeats before trend change” and pivot left/right bars are set for typical 10-min price swings.
User Customization:
Adjust the “Pivot Left Bars,” “Pivot Right Bars,” and “Min repeats before trend change” to match your trading style, chart timeframe, and volatility.
Enable pivot labels for visual clarity if desired.
Set alerts to receive notifications of trend changes in real time.
How to Use:
Apply the indicator to any chart and timeframe. It works best on swing-trading or trend-following strategies.
Watch for Buy/Sell signals in conjunction with your other analysis, such as volume, support/resistance, or other indicators.
Legal Disclaimer:
This indicator is provided for educational and informational purposes only. It is not financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Users should trade at their own risk and are solely responsible for any gains or losses incurred.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.