PINE LIBRARY
MarketStructure
Updated
Library "MarketStructure"
Will draw out the market structure for the disired pivot length. The code is from my indicator "Marker structure" (tradingview.com/script/ud6AQSm2-Market-structure/).
Create(type, length, source, equalPivotsFactor, extendEqualPivotsZones, equalPivotsStyle, equalPivotsColor, alertFrequency)
Call on each bar. Will create a Structure object.
Parameters:
type (int): the type of the Structure to create. 0 = internal, 1 = swing.
length (int): The lenghts (left and right) for pivots to use.
source (string): The source to be used for structural changes ('Close', 'High/low (aggresive)' (low in an uptrend) or 'High/low (passive)' (high in an uptrend)).
equalPivotsFactor (float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
extendEqualPivotsZones (bool): Set to true if you want the equal pivots zones to be extended.
equalPivotsStyle (string): Set the style of equal pivot zones.
equalPivotsColor (color): Set the color of equal pivot zones.
alertFrequency (string)
Returns: The 'structure' object.
Pivot(structure)
Sets the pivots in the structure.
Parameters:
structure (Structure)
Returns: The 'structure' object.
PivotLabels(structure)
Draws labels for the pivots found.
Parameters:
structure (Structure)
Returns: The 'structure' object.
EqualHighOrLow(structure)
Draws the boxsa for equal highs/lows. Also creates labels for the pivots included.
Parameters:
structure (Structure)
Returns: The 'structure' object.
BreakOfStructure(structure)
Will create lines when a break of strycture occures.
Parameters:
structure (Structure)
Returns: The 'structure' object.
ChangeOfCharacter(structure)
Will create lines when a change of character occures.
Parameters:
structure (Structure)
Returns: The 'structure' object.
StructureBreak
Holds drawings for a structure break.
Fields:
Line (series line): The line object.
Label (series label): The label object.
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
ChangeOfCharacterBroken (series bool): Sets to true if a change of character has happened.
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
Structure
Holds all the values for the market structure.
Fields:
Length (series int): Define the left and right lengths of the pivots used.
Type (series int): Set the type of the market structure. Two types can be used, 'internal' and 'swing' (0 = internal, 1 = swing).
Trend (series int): This will be set internally and can be -1 = downtrend, 1 = uptrend.
Source (series string): Set the source for structural chandeg. Can be 'Close', 'High/low (aggresive)' (low in an uptrend) or 'High/low (passive)' (high in an uptrend).
EqualPivotsFactor (series float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
ExtendEqualPivotsZones (series bool): Set to true if you want the equal pivots zones to be extended.
ExtendEqualPivotsStyle (series string): Set the style of equal pivot zones.
ExtendEqualPivotsColor (series color): Set the color of equal pivot zones.
EqualHighs (array<box>): Holds the boxes for zones that contains equal highs.
EqualLows (array<box>): Holds the boxes for zones that contains equal lows.
BreakOfStructures (array<StructureBreak>): Holds all the break of structures within the trend (before a change of character).
Pivots (array<Pivot>): All the pivots in the current trend, added with the latest first, this is cleared when the trend changes.
AlertFrequency (series string): set the frequency for alerts.
Will draw out the market structure for the disired pivot length. The code is from my indicator "Marker structure" (tradingview.com/script/ud6AQSm2-Market-structure/).
Create(type, length, source, equalPivotsFactor, extendEqualPivotsZones, equalPivotsStyle, equalPivotsColor, alertFrequency)
Call on each bar. Will create a Structure object.
Parameters:
type (int): the type of the Structure to create. 0 = internal, 1 = swing.
length (int): The lenghts (left and right) for pivots to use.
source (string): The source to be used for structural changes ('Close', 'High/low (aggresive)' (low in an uptrend) or 'High/low (passive)' (high in an uptrend)).
equalPivotsFactor (float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
extendEqualPivotsZones (bool): Set to true if you want the equal pivots zones to be extended.
equalPivotsStyle (string): Set the style of equal pivot zones.
equalPivotsColor (color): Set the color of equal pivot zones.
alertFrequency (string)
Returns: The 'structure' object.
Pivot(structure)
Sets the pivots in the structure.
Parameters:
structure (Structure)
Returns: The 'structure' object.
PivotLabels(structure)
Draws labels for the pivots found.
Parameters:
structure (Structure)
Returns: The 'structure' object.
EqualHighOrLow(structure)
Draws the boxsa for equal highs/lows. Also creates labels for the pivots included.
Parameters:
structure (Structure)
Returns: The 'structure' object.
BreakOfStructure(structure)
Will create lines when a break of strycture occures.
Parameters:
structure (Structure)
Returns: The 'structure' object.
ChangeOfCharacter(structure)
Will create lines when a change of character occures.
Parameters:
structure (Structure)
Returns: The 'structure' object.
StructureBreak
Holds drawings for a structure break.
Fields:
Line (series line): The line object.
Label (series label): The label object.
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
ChangeOfCharacterBroken (series bool): Sets to true if a change of character has happened.
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
Structure
Holds all the values for the market structure.
Fields:
Length (series int): Define the left and right lengths of the pivots used.
Type (series int): Set the type of the market structure. Two types can be used, 'internal' and 'swing' (0 = internal, 1 = swing).
Trend (series int): This will be set internally and can be -1 = downtrend, 1 = uptrend.
Source (series string): Set the source for structural chandeg. Can be 'Close', 'High/low (aggresive)' (low in an uptrend) or 'High/low (passive)' (high in an uptrend).
EqualPivotsFactor (series float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
ExtendEqualPivotsZones (series bool): Set to true if you want the equal pivots zones to be extended.
ExtendEqualPivotsStyle (series string): Set the style of equal pivot zones.
ExtendEqualPivotsColor (series color): Set the color of equal pivot zones.
EqualHighs (array<box>): Holds the boxes for zones that contains equal highs.
EqualLows (array<box>): Holds the boxes for zones that contains equal lows.
BreakOfStructures (array<StructureBreak>): Holds all the break of structures within the trend (before a change of character).
Pivots (array<Pivot>): All the pivots in the current trend, added with the latest first, this is cleared when the trend changes.
AlertFrequency (series string): set the frequency for alerts.
Release Notes
v2- Remove faultly commited 'AlertFrequency'
Release Notes
v3- Mitigate error of removal of previous break of structure if a later pivot is not broken.
- Remove unused code
Release Notes
v4- Add liquidation
Added:
Liqudity(priceAction)
Will draw liquidity.
Parameters:
priceAction (PriceAction)
PriceAction
Holds all the values for the general price action in the market structure.
Fields:
LiquidityPivotsHigh (array<Pivot>): All high pivots for liquidity.
LiquidityPivotsLow (array<Pivot>): All low pivots for liquidity.
LiquidityConfirmationBars (series int): The number of bars to confirm that a liquidity is valid.
LiquidityPivotsLookback (series int): A number of pivots to look back for.
Updated:
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
ChangeOfCharacterBroken (series bool): Sets to true if a change of character has happened.
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
LiquidityBroken (series bool): Sets to true if a liquidity of the price level has happened.
Release Notes
v5- Mitigate bug causing old BOS appear when a higher pivot has been broken
Release Notes
v6- Add alerts to break of structure and equal high/low
Release Notes
v7- Remove 'ChangeOfCharcterBroken'. Pivots are now cleared when a change of character happens. This means that no break of stucture or change of character can happen on a pivot that was befor the change of character.
- To figure out if the current pivot was the latest of its type (high or low) the library now uses the last `bar_index`
Updated:
EqualHighOrLow(structure)
Draws the boxes for equal highs/lows. Also creates labels for the pivots included.
Parameters:
structure (Structure)
Returns: The 'structure' object.
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
LiquidityBroken (series bool): Sets to true if a liquidity of the price level has happened.
Release Notes
v8- Change break of structure behaves. Don't need to check if the pivot is the latest and only delete the ones on the 'wrong side'
Release Notes
v9- Keep all the pivots 'within' the pivot (when a CHoCH happens) and the break for CHoCHs, disable all for BOSs
Release Notes
v10- Add 'VisualizeCurrent()' that will create a box with a background for between the latest high and low pivots. This can be used as the current trading range (if the pivots broke structure somehow).
Added:
VisualizeCurrent(structure)
Will create a box with a background for between the latest high and low pivots. This can be used as the current trading range (if the pivots broke strucure somehow).
Parameters:
structure (Structure)
Release Notes
v11- Introduce the concept of "CHoCH+" also called Change of Character plus. Labels for a change of character can now have either the text "CHoCH" or "CHoCH+". A Change of Character plus is formed when price fails to form a higher high or a lower low before reversing. Note that a pivot that is created after the change of character might have a higher high or a lower low, thus not making the break a "CHoCH+". This is not changed after the pivot is found but is kept as is.
Updated:
ChangeOfCharacter(structure)
Will create lines when a change of character occures. This line will have a label with "CHoCH" or "CHoCH+".
Parameters:
structure (Structure)
Returns: The 'structure' object.
Release Notes
v12- Add 'ChangeOfCharacterBreakBarIndex' that sets to 'bar_index' on a change of caracter.
Updated:
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
LiquidityBroken (series bool): Sets to true if a liquidity of the price level has happened.
ChangeOfCharacterBreakBarIndex (series int): Sets to 'bar_index' if a change of character has happened.
Release Notes
v13- 'BreakOfSrructure()' and 'ChanfeOfCharacter()' now returns a boolean saying if it happened or not.
- Remove obsolete 'Source', the library now always use close value.
- Remove 'ChanfeOfCharacterBreakBarIndex'
Updated:
Create(type, length, equalPivotsFactor, extendEqualPivotsZones, equalPivotsStyle, equalPivotsColor)
Call on each bar. Will create a Structure object.
Parameters:
type (int): the type of the Structure to create. 0 = internal, 1 = swing.
length (int): The lenghts (left and right) for pivots to use.
equalPivotsFactor (float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
extendEqualPivotsZones (bool): Set to true if you want the equal pivots zones to be extended.
equalPivotsStyle (string): Set the style of equal pivot zones.
equalPivotsColor (color): Set the color of equal pivot zones.
Returns: The 'structure' object.
BreakOfStructure(structure)
Will create lines when a break of strycture occures.
Parameters:
structure (Structure)
Returns: A boolean that represents if a break of structure was found or not.
ChangeOfCharacter(structure)
Will create lines when a change of character occures. This line will have a label with "CHoCH" or "CHoCH+".
Parameters:
structure (Structure)
Returns: A boolean that represents if a change of character was found or not.
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
LiquidityBroken (series bool): Sets to true if a liquidity of the price level has happened.
Structure
Holds all the values for the market structure.
Fields:
Length (series int): Define the left and right lengths of the pivots used.
Type (series int): Set the type of the market structure. Two types can be used, 'internal' and 'swing' (0 = internal, 1 = swing).
Trend (series int): This will be set internally and can be -1 = downtrend, 1 = uptrend.
EqualPivotsFactor (series float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
ExtendEqualPivotsZones (series bool): Set to true if you want the equal pivots zones to be extended.
ExtendEqualPivotsStyle (series string): Set the style of equal pivot zones.
ExtendEqualPivotsColor (series color): Set the color of equal pivot zones.
EqualHighs (array<box>): Holds the boxes for zones that contains equal highs.
EqualLows (array<box>): Holds the boxes for zones that contains equal lows.
BreakOfStructures (array<StructureBreak>): Holds all the break of structures within the trend (before a change of character).
Pivots (array<Pivot>): All the pivots in the current trend, added with the latest first, this is cleared when the trend changes.
Release Notes
v14- Split pivot length into left ang right
Updated:
Create(type, leftLength, rightLength, equalPivotsFactor, extendEqualPivotsZones, equalPivotsStyle, equalPivotsColor)
Call on each bar. Will create a Structure object.
Parameters:
type (int): the type of the Structure to create. 0 = internal, 1 = swing.
leftLength (int)
rightLength (int)
equalPivotsFactor (float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
extendEqualPivotsZones (bool): Set to true if you want the equal pivots zones to be extended.
equalPivotsStyle (string): Set the style of equal pivot zones.
equalPivotsColor (color): Set the color of equal pivot zones.
Returns: The 'structure' object.
Structure
Holds all the values for the market structure.
Fields:
LeftLength (series int): Define the left length of the pivots used.
RightLength (series int): Define the right length of the pivots used.
Type (series int): Set the type of the market structure. Two types can be used, 'internal' and 'swing' (0 = internal, 1 = swing).
Trend (series int): This will be set internally and can be -1 = downtrend, 1 = uptrend.
EqualPivotsFactor (series float): Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
ExtendEqualPivotsZones (series bool): Set to true if you want the equal pivots zones to be extended.
ExtendEqualPivotsStyle (series string): Set the style of equal pivot zones.
ExtendEqualPivotsColor (series color): Set the color of equal pivot zones.
EqualHighs (array<box>): Holds the boxes for zones that contains equal highs.
EqualLows (array<box>): Holds the boxes for zones that contains equal lows.
BreakOfStructures (array<StructureBreak>): Holds all the break of structures within the trend (before a change of character).
Pivots (array<Pivot>): All the pivots in the current trend, added with the latest first, this is cleared when the trend changes.
Release Notes
v15- Fix multiple bugs using left pivot length instead of right
Release Notes
v16- Reintroduce 'ChangeOfCharacterBroken'
- For a break of structure to happen the trend now needs to be explicitly bullish or bearish
Updated:
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
LiquidityBroken (series bool): Sets to true if a liquidity of the price level has happened.
ChangeOfCharcterBroken (series bool)
Release Notes
v17- Fix typo
- Set 'ChangeOfCharacterBroken' on change of character
Updated:
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float): The price of the pivot.
BarIndex (series int): The bar_index where the pivot occured.
Type (series int): The type of the pivot (-1 = low, 1 = high).
BreakOfStructureBroken (series bool): Sets to true if a break of structure has happened.
LiquidityBroken (series bool): Sets to true if a liquidity of the price level has happened.
ChangeOfCharacterBroken (series bool): Sets to true if a change of character has happened.
Release Notes
v18- The trend needs to be bullish or bearish to create a "CHoCH+"
Release Notes
v19- Set pivots to breakable on a change of character
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House rules.
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