Lighthouse Market Structure MT4

LIGHTHOUSE — see the market structure at a glance. Non-repainting.

LIGHTHOUSE reads price structure from confirmed swing points and shows it on the chart in a clean, simple way. It answers three questions every discretionary trader asks before entering: Which way is the higher timeframe going? Which way is the current chart going? Where are the important price levels?
It is a decision-support tool. It does not place trades and does not predict prices.

Why "LIGHTHOUSE"?
A lighthouse shows ships the way and warns them where the rocks are, but the captain still steers the ship. LIGHTHOUSE works the same way on your chart: it shows the direction of the market and the price areas where it tends to react. The trading decisions remain yours.

How it works

  • Swing highs and lows are confirmed only after the bar closes. Once a swing label appears, it never moves or disappears.
  • Breaks of structure are judged by the closing price, not by wicks.
  • The trend bias comes from the direction of the last structure break and the order of the last two swing highs and lows (Dow theory).
  • The same logic is applied to a higher timeframe (H1 by default), so both are always read the same way.

Key features

  • 5-level trend bias: Strong Buy, Buy, Neutral, Sell, Strong Sell, for the higher timeframe and the current chart.
  • HH, HL, LH and LL labels with a two-color zigzag.
  • BOS (continuation) and CHoCH (change of character) lines.
  • One pullback zone for the current leg.
  • S/R flip zones: narrow bands that acted as both support and resistance, one above and one below the price. Broken zones are faded.
  • Range box: drawn when swing highs and lows repeat at similar levels; it changes color on a breakout (blue up, red down).
  • Aligned bias signal: when the higher timeframe is Buy or stronger and the current chart turns from Neutral or lower to Buy or stronger, a "Buy signal" with the time appears in the panel. Sell is the mirror case.
  • Popup alerts and push notifications for signal, BOS and CHoCH, each switchable.
  • Built-in legend, three display levels (Simple, Standard, Full).
  • Light on resources: history is calculated once, then only each new closed bar.

Typical use

  • Avoid trading against the higher timeframe.
  • Trade the range edges together with an S/R flip zone.
  • Plan exits with previous BOS/CHoCH lines and S/R zones.

Recommended settings

  • Developed and checked on M5 with H1 as the higher timeframe (EURUSD, GBPUSD, USDJPY, XAUUSD).
  • Works on any symbol and timeframe. For M15, H4 as the higher timeframe is a natural choice.

Main inputs

  • Higher timeframe and its bars, swing bars, max bars, display level
  • Recent legs and labels, colors, line width, font size, legend
  • S/R flip zone settings, range box settings
  • Alerts for signal, BOS and CHoCH, push notifications

Notes

  • This is an analysis tool. It does not open or close trades.
  • No indicator can guarantee future results. Please test it on a demo account first.
  • For questions, please use the comments section or MQL5 private messages.
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