Market structure

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The Market Structure is important to be able to mark areas of rejection or possible break. Also to determine channels, points of possible reversals or trend changes. So we can use it them as support and resistance zones for stoploss or take profit

It shows the highs and lows based on pivot points, showing Higher Highs, Lower Highs, Higher Lows and Lower Lows. Depending on the previous pivots.

A better confirmation for an uptrend is to expect higher high (HH) and then a Higher Low (HL), and for a downtrend expect Lower Low (LL) and then a Lower High (LH).When the price breaks a previous high or low level, a signal will be triggered in that direction, it is also possible to filter these signals with a ribbon of moving averages, you can choose up to 14 different types of MA's.

Benefits:

  • Allows you to calculate the levels with the closing of the candles as well as with the highs and lows
  • You can change the number of levels on the screen with the intensity adjustment
  • Extended levels are shown as well as at the end of the graph to avoid noise when making technical analysis
  • Visually you should modify style, color, thickness of the level lines A
  • Green lines are the resitance levels and red lines are support levels, these will automatically change color according to the current price

Market Structure by VerticaltradersIndicators on TradingView.com

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