OPEN-SOURCE SCRIPT
BoS yellow candle
The "BoS Yellow Candle" indicator identifies and highlights the first candle that breaks a Break of Structure (BoS) in a given look-back period. A BoS occurs when the price either breaks above the highest high or below the lowest low within a user-defined look-back range (default set between 7 and 12 candles).
Bullish Break of Structure: The first candle to break above the previous high is marked with a yellow body.
Bearish Break of Structure: The first candle to break below the previous low is also marked with a yellow body.
This visual aid helps traders quickly identify potential structural breakouts for further analysis or strategy development.
Bullish Break of Structure: The first candle to break above the previous high is marked with a yellow body.
Bearish Break of Structure: The first candle to break below the previous low is also marked with a yellow body.
This visual aid helps traders quickly identify potential structural breakouts for further analysis or strategy development.
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.