The same break means two different things depending on what came before it. The smart market structure concepts indicator tracks the trend as it breaks swings. A break with that trend gets labelled BOS; a break against it, the first sign of a turn, gets labelled CHoCH. Behind each break it boxes the candle the move started from.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: SMC Bullish Break, SMC Bearish Break |
| Alerts | popup, push notification, email, sound |
| Inputs | 16 |
Plot by plot
Two marks, text tags and zone boxes.
`SMC Bullish Break` prints dodger blue with arrow 233.
`SMC Bearish Break` prints orange red with arrow 234.
Each break carries a BOS or CHoCH tag.
`InpBullOBColor` `clrTeal` fills demand boxes.
`InpBearOBColor` `clrFireBrick` fills supply boxes.
- SMC Bullish Break: arrow, dodger blue, arrow code 233
- SMC Bearish Break: arrow, orange red, arrow code 234
How the numbers arrive
Swings first
`InpFractal` `3` bars either side confirm a swing. `InpScanBars` `1500` bounds how far back the scan runs.
Naming the break
A close beyond the last swing is a break. If the trend already pointed that way it is BOS; if it pointed the other way it is CHoCH, and the trend flips.
The origin box
`InpMaxLegForOB` `15` limits how far back the code looks for the candle the move began from. That candle becomes the box.
How to follow along
BOS continues the trend already in place.
CHoCH is the first break against it.
Teal boxes are demand, brick boxes are supply.
`InpCooldown` `3` keeps breaks apart.
`InpShowOB` hides the boxes when you want tags only.
Swings confirm three bars late.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
Each confirmed break reports, naming it BOS or CHoCH. `EnableAlerts` is the master switch; the popup and the speaker route playing `SoundFile` ship on, while push and email wait.
Every Smart Market Structure Concepts Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
InpFractal |
Swing pivot strength (bars each side). Bars either side of a swing, `3`. | 3 |
InpScanBars |
Bars to scan. Bars the scan covers, `1500`. | 1500 |
InpCooldown |
Min bars between structure signals. Bars between structure marks, `3`. | 3 |
InpMaxLegForOB |
Max bars back to find OB origin. Bars back to find an origin, `15`. | 15 |
Display settings
| Setting | What it does | Default |
|---|---|---|
InpArrowGapPips |
Arrow gap from candle (pips). Mark distance in pips, `1.0`. | 1.0 |
InpShowOB |
Draw order-block zones. Draw the origin boxes, `true`. | on |
InpBullColor |
Bullish break color. | dodger blue |
InpBearColor |
Bearish break color. | orange red |
InpBullOBColor |
Demand (bullish) OB color. | teal |
InpBearOBColor |
Supply (bearish) OB color. | fire brick |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master alert switch. Master switch for break news, `true`. | on |
EnablePopup |
Popup alert. Popup notice, `true`. | on |
EnablePushNotify |
Push to mobile MT. | off |
EnableEmail |
Email alert. Email notice, `false`. | off |
EnableSound |
Sound alert. Speaker notice, ships on, `true`. | on |
SoundFile |
Sound file. | alert.wav |
Where it earns its keep
Three-bar swings suit charts with clean structure. EURUSD H1 is the reference chart, where a CHoCH comes every few days. On M5 labels crowd together. On H4 each one reflects a genuine shift.
The weak spots
A CHoCH can be one wick of noise.
Three-bar swings mark small structure too.
Fifteen bars may not reach the true origin.
Many tags and boxes crowd a long history.
Copy the compiled Smart Market Structure Concepts 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.
Related on forexmt4systems.com: Smart Money Concepts Strategy.
Download the Smart Market Structure Concepts Indicator for MT4 and MT5
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FAQ
When does a break get the CHoCH tag?
When the close breaks a swing against the trend the tool was tracking. It is the first structural sign of a turn, and the tracked trend flips at that bar.
What does InpMaxLegForOB 15 search for?
The candle the breaking move started from, looking back no more than fifteen bars. That candle’s range becomes the demand or supply box drawn behind the break.
Does SMC Bullish Break mark every BOS?
Yes, and every bullish CHoCH as well. The mark shows the direction of the break; the text tag beside it tells you which of the two kinds it was.
Why does InpFractal 3 delay the swings?
A swing needs three bars on each side to confirm, so it cannot be known until three later bars close. Breaks of it are reported on closed bars after that.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Smart Market Structure Concepts Indicator as one input. Always backtest before trading live.
Category: this is part of our Smart Money collection. Browse more Smart Money for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Slippage (finance) on Wikipedia.
- Additional market context is at the trading articles library at MQL5.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.