Price Action Box Retrace BOS by Weru Tech

WeruFx Price Action Box + Retrace + BOS is a chart-analysis indicator for MetaTrader 5. It reads the most recent swing highs and swing lows on your chart and draws three price-action tools from them, so you can see market structure at a glance without drawing anything by hand.

What it draws

1. Price Action Box. A filled rectangle covering the range between the latest confirmed swing high and swing low, from the earlier of the two swings up to the current bar.
2. Retrace Zone. Four retracement lines (default 0.382, 0.5, 0.618 and 0.786) measured on the latest swing leg and extended to the right, each with an optional label. If the latest swing is a high, levels are measured down from it; if it is a low, they are measured up from it.
3. Break of Structure (BOS). When a candle closes beyond the active swing high (bullish BOS) or swing low (bearish BOS), the indicator draws a line at the broken level with a BOS label. Each level is used once, then the indicator waits for the next swing to form.

How swings are found

A swing high is a bar whose high is the highest within a chosen number of bars on each side (default 5). A swing low works the same way in reverse. You can make swings more or less sensitive with a single setting.

Key features

• Works on any symbol and any timeframe
• Every tool can be switched on or off separately
• Adjustable swing sensitivity and history depth for good performance
• Four editable retracement levels, with colours, line width and labels
• Draws on the chart only: no trades are opened, no orders are modified, no account data is used
• Objects are cleaned up automatically when the indicator is removed

Good to know

• A swing is confirmed only after the chosen number of bars has formed on its right, so the newest swing is marked with that delay. This is normal for swing-based tools.
• The box and the retrace lines move to the new swing when a newer swing is confirmed. Break of Structure marks that were already drawn on closed bars do not move.
• This is a visual analysis tool. It does not generate buy or sell alerts and it does not predict price.

Settings

See the Inputs section of this page. All defaults work out of the box.

Support

Questions or suggestions? Write in the Comments tab of this product page or send me a private message on MQL5. I answer as quickly as I can. More tools from Weru Tech (WeruFx) are listed on my MQL5 seller profile.

Risk warning

Trading leveraged products such as forex and CFDs carries a high level of risk and may not be suitable for everyone. You can lose some or all of your invested capital. This indicator is an analysis aid and not financial, investment or trading advice. Patterns shown on a chart do not guarantee any outcome, and past behaviour of price does not indicate future results. Always test on a demo account first and only risk money you can afford to lose.