SMC Concepts for MT5

What it does

This indicator maps price action onto the chart using the "Smart Money Concepts" (SMC) framework — a way of describing market structure, liquidity, and imbalance that has become common terminology among price-action traders. It identifies and labels these elements automatically, on two structural levels at once (internal and swing), and keeps a running numerical record of every element in the Data Window so the values can be read by Expert Advisors or scripts via iCustom .

It does not predict price. It organizes what has already happened on the chart into a structure a trader can read, and it includes an internal backtester so the behavior of its own signals can be measured on historical data before anything is used in a live decision.

Market structure

• Internal structure: short-lookback (5-bar) pivot detection that reacts quickly, labeled with Break of Structure (BOS) and Change of Character (CHoCH) events.
• Swing structure: a longer, user-defined lookback that captures larger trend shifts, labeled the same way (BOS/CHoCH) but at a slower pace.
• Independent BOS/CHoCH filters for bullish and bearish events, on each structural level, so only continuation events, only reversal events, or both can be displayed.
• Swing point labeling (HH, HL, LH, LL) and automatic "Strong High / Weak High / Strong Low / Weak Low" trailing levels.
• Optional candle coloring based on the current internal trend bias.

Order blocks

Bullish and bearish order blocks are extracted at each structure break, using an ATR- or range-based filter to discard candles distorted by abnormal volatility. Internal and swing order blocks are tracked separately, each capped to a user-defined count of the most recent, unmitigated blocks. A block is removed the moment price mitigates it (by close or by wick, depending on the selected mitigation rule), so only the blocks still relevant to current price remain on the chart.

Fair value gaps, equal highs/lows, zones, and MTF levels

• Fair value gap detection with an optional automatic significance threshold, and a configurable extension length.
• Equal highs / equal lows detection with an adjustable confirmation length and sensitivity threshold.
• Premium, discount, and equilibrium zones drawn from the visible swing range.
• Previous daily, weekly, and monthly highs and lows plotted as reference levels.

Data Window buffers

Every structural element the indicator tracks is exposed as a plotted buffer, not just a chart drawing: swing/internal pivot levels, swing/internal trend bias, all four BOS/CHoCH event levels for both structural levels, equal high/low levels, fair value gap boundaries, and the nearest live bullish/bearish order block boundaries. This makes the indicator usable as a data source for an EA, not only as a visual chart tool.

Signal engine

Buy/Sell arrows are generated from structure breaks, with the source and confirmation logic left to the user:

• Signal source: swing structure breaks, internal structure breaks, or both.
• Order block retest confirmation (optional): instead of firing on the break itself, the signal waits for price to return into the order block that break created, within a configurable number of bars, before firing — or drops the signal if price never returns or invalidates the block first.
• Zone filter (optional): restricts buy signals to the discount zone and sell signals to the premium zone.
• Internal/swing agreement filter (optional): requires the internal-structure trend bias to agree with the swing-structure bias before a signal is allowed through.

These are independent switches, so the signal behavior can range from "every structure break" to a narrower, multi-condition confirmation, depending on what's turned on.

Built-in backtester and dashboard

The indicator simulates one position at a time directly from its own Buy/Sell signals, with these configurable parameters:

• Entry price model: signal-bar close or next-bar open.
• Exit model: fixed take-profit/stop-loss, exit on the opposite signal, or both (whichever triggers first).
• Take-profit/stop-loss sizing: fixed points, or a multiple of ATR.

Results are written to an on-chart dashboard (position and offset configurable, to avoid overlapping other chart panels) showing: test start/end date and time, number of buy signals, number of sell signals, closed trades, wins, losses, win rate, and net points. The test window is defined automatically, starting from the first bar on the chart where a signal appears.

The calculation engine is incremental: history is processed once, and only newly closed bars are processed afterward, with a lightweight preview of the still-forming bar that never leaves duplicate objects or double-counted events behind. This keeps the indicator responsive when scrolling through long history or running it in the Strategy Tester's visual mode.

Customization

Mode (historical/present), color style (colored/monochrome), independent colors for every structural element, independent display toggles for every feature described above, and adjustable lookback lengths, thresholds, and counts throughout.

Intended use

This is an analysis and market-structure visualization tool with an included signal/backtest module for evaluating that structure's historical behavior. It does not place trades, manage risk, or guarantee any outcome on live or demo accounts. Results shown by the built-in backtester reflect the specific settings used and the historical data tested; they are not a projection of future performance. As with any market analysis tool, use it alongside independent judgment and risk management appropriate to the account it is applied to.