Charts247 Market Structure Essentials
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Segun Ayanniyi
Trader, educator and developer with 17 years of live market experience. I’m the founder of Charts247 Trading Academy, where I teach the WavesOfSuccess (WOS) methodology, a structured approach to reading market waves, trend changes and high-probability setups. - Versão: 1.2
Charts247 Market Structure Essentials
Swing highs and lows, HH / HL / LH / LL labels, CHoCH and BOS on the close, the live intraday high and low, and the structure trend. Closed candles only; confirmed swings never move.
Charts247 Market Structure Essentials reads price structure the way the Waves of Success method does: from closed candles only, with every swing confirmed before it is drawn. Nothing on history is redrawn.
What it shows
• Swing highs and lows. A swing high is a candle whose high stands above the highs of the candles on each side (4 by default, set by Swing strength). It is confirmed that many candles after it prints and never moves afterwards. Swing lows are mirrored.
• HH, HL, LH and LL labels. Each swing high is labelled against the previous swing high (higher high, lower high or equal high) and each swing low against the previous swing low.
• CHoCH and BOS. When a candle closes through the last swing high or low, a dotted line runs from the swing to the breaking candle. The first break against the previous break is marked CHoCH (change of character); a break in the same direction is marked BOS (break of structure).
• Intraday high and low (1-2-3). After a CHoCH, the first BOS in the same direction confirms the extreme of the move before the CHoCH: an intraday high after a bearish CHoCH, an intraday low after a bullish one. Its line runs to the right until a candle closes through it. This edition shows the live pair: the latest intraday high and the latest intraday low, labelled iHH, iLH, iHL or iLL against the previous one.
• Structure trend. A corner label reads UP after two intraday higher highs and one higher low in a row, and DOWN after two lower lows and one lower high. The trend holds until the other side is confirmed; while the latest run points the other way it reads PULLBACK.
How to read it
A swing appears a set number of candles after its high or low. A CHoCH or BOS appears on the close of the breaking candle. An intraday line appears on the close of the BOS that confirms it. Because everything waits for closed candles, nothing is redrawn later: each swing appears a set number of candles after it prints and stays where it is.
Inputs
• Structure: swing strength, candles analysed, candles drawn, copy number (to run two copies with different settings).
• Swing labels: on or off, colours of HH, HL, LH and LL, font, size, gap from the candle.
• CHoCH and BOS: on or off, four colours, text size.
• Intraday highs and lows: on or off, colours, line width, label position (above, on or below the line).
• Structure trend: on or off, the higher-high and higher-low counts, colours, chart corner.
Notes
• Works on any symbol and timeframe; the method was built on M5 to H1 forex charts.
• No DLLs and no files written.
• Charts247 Market Structure Sessions adds the full intraday history coloured and named by session (Asia, London, New York), a session read, a zigzag with a higher-high and lower-low counter, a break count, trend shading, alerts and a control panel.
