Market Structure Inducements Indicator for MT4 and MT5

Written by Dominic Walsh · Published 16 Jun 2026 · Last updated 21 Sep 2026

Inside every major swing sits a smaller one. Price tends to reach for the smaller one first. The market structure inducements indicator tracks both. It marks structure breaks the usual way, and draws that minor level on its own as the thing likely to go first.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	5: BOS Buy, BOS Sell, CHoCH Buy, CHoCH Sell, Inducement
Alerts	popup, push notification, email, sound
Inputs	10

Its visible parts

Four arrow plots and one line.

`BOS Buy` and `BOS Sell` mark a structure break.

`CHoCH Buy` prints aqua and `CHoCH Sell` magenta.

`Inducement` traces gold at width 1.

Marks stand `InpArrowGapPts` `12` points clear.

Nothing appears in a pane below price.

• BOS Buy: arrow, lime, width 2, arrow code 233
• BOS Sell: arrow, red, width 2, arrow code 234
• CHoCH Buy: arrow, aqua, width 2, arrow code 233
• CHoCH Sell: arrow, magenta, width 2, arrow code 234
• Inducement: line, gold, width 1

How the Market Structure Inducements Indicator does its maths

Major and minor

One scan finds both. `InpLookback` `5` bars either side define a fractal. Across `InpStructureWindow` `50` bars the code keeps the extreme of each kind, plus the next one in.

Breaks and changes

A close beyond the major level is the event. Whether it continues the previous direction or reverses it decides which of the two mark colours prints.

The nearer line

`InpShowInducement` draws the minor level. It sits between price and the major one, which is why it usually goes first.

How to read the signals

Lime and red marks continue the existing direction.

Aqua and magenta marks reverse it.

The gold line is the nearer level, not the target.

It moves whenever a new minor swing forms.

Fifty bars is how far back structure counts.

Marks confirm five bars after their swing.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Two things speak here. A structure break and a change of character. `InpEnableAlerts` sits over both and ships on, and so do `InpEnablePopup` and `InpEnableSound`. The phone and mail routes wait until you want them.

Every Market Structure Inducements Indicator input

Core settings

Setting	What it does	Default
InpLookback	Fractal lookback (left=right). Bars either side defining a fractal, `5`.	5
InpStructureWindow	Structure window (bars to scan). History structure reads, `50`.	50

Display settings

Setting	What it does	Default
InpShowInducement	Plot active inducement line. Draw the minor level, `true`.	on
InpArrowGapPts	Arrow gap in points. Gap between a mark and its candle, `12`.	12

Alert settings

Setting	What it does	Default
InpEnableAlerts	Master alert switch. Master switch over the marks, `true`.	on
InpEnablePopup	Popup alerts. A mark as a terminal dialog, `true`.	on
InpEnablePush	Push notifications. The same on a phone, `false`.	off
InpEnableEmail	Email alerts. The same as mail, `false`.	off
InpEnableSound	Sound alerts. The same through the desktop, `true`.	on
InpSoundFile	The clip that plays, `”alert.wav”`.	alert.wav

Markets that suit it

A five-bar fractal across fifty bars is a short structural memory. EURUSD H1 is the reference chart, where the window covers two days. Go faster and the levels churn. Go slower and each one holds for weeks.

Where it lets you down

A five-bar fractal is a small piece of structure.

That gold line moves often.

Fifty bars is a short memory.

Every mark confirms five bars late.

Copy the compiled Market Structure Inducements Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Download the Market Structure Inducements Indicator for MT4 and MT5

The zip holds the compiled Market Structure Inducements Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does the Inducement line represent?

The minor swing sitting inside the major one. Price heading for a big level tends to reach the nearer small one first, and drawing that on its own is what the whole tool is built around.

How do BOS and CHoCH marks differ?

By what came before. A break continuing the previous direction takes the lime or red mark; one reversing it takes aqua or magenta, which is the change-of-character reading.

How far back does InpStructureWindow 50 look?

Fifty bars, which is two days on the hourly chart. That is how far the scan reaches for the major and minor extremes, so the levels track the current leg rather than a month of old structure.

Why does InpLookback 5 delay the marks?

Because a fractal needs five bars on each side before it confirms. The swing sits where it always did, but nothing can be marked until that right-hand window has closed.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Market Structure Inducements Indicator as one input. Always backtest before trading live.