BOS_CHoCH_Detector

Category: market_structure, trend

Detects and visualizes Break of Structure (BOS) and Change of Character (CHoCH) using a state-machine approach and pivot point identification.

Formula

BOS_{bullish} = price > max(high, range_{formation}) \\ CHoCH_{bearish} = price < min(low, range_{BOS\_swing}) \\ Swing\% = \frac{|BOS_{level} - CHoCH_{level}|}{(BOS_{level} + CHoCH_{level})/2} \times 100 > threshold

Inputs

• Initial direction window (default: 3)
• Hunt mode (default: wick)
• Include BOS hunt candle in initial CHoCH range (default: true)
• Minimum swing percent (default: 0.0)
• Bullish BOS color (default: color.lime)
• Bearish BOS color (default: color.red)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.