Market Structure Shift

1/ What is the Market Structure Shift indicator?

Introduction:

The Market Structure Shift indicator is a powerful tool designed to help traders identify key shifts in market trends, providing a reliable framework for predicting reversals.
Ideal for various markets and timeframes, this indicator enhances trading precision by combining market structure analysis with the Williams %R momentum indicator. With customizable alerts, it ensures you stay informed of critical market movements.

Benefits:

High-Precision Reversal Detection: The Market Structure Shift indicator is specifically crafted to identify and confirm shifts in market trends, offering traders a clear indication of when the market is likely to reverse.
Versatile Application Across Markets: Whether you are trading forex, stocks, or futures, this indicator adapts seamlessly to different asset classes and timeframes, enhancing your decision-making process across various trading environments.
Double-Confirmation Mechanism: Combining market structure analysis with the Williams %R momentum indicator, this tool delivers high-probability trade setups, increasing the accuracy of your entries and exits.
Customizable Alerts: Stay on top of market movements with fully customizable alerts, including pop-up, sound, email, and push notifications, ensuring you never miss a critical market structure shift.

2/ Indicator Setting - Market Structure Shift

WPR Period: Set the period for calculating the Williams %R indicator, affecting its sensitivity to price changes.
WPR Overbought: Threshold for considering the market overbought, signaling potential bearish reversals.
WPR Oversold: Threshold for considering the market oversold, signaling potential bullish reversals.
Zigzag Depth: Minimum price movement needed to create a new Zigzag point, filtering out minor fluctuations.
Zigzag Deviation: Percentage deviation required to form a new Zigzag point, controlling sensitivity.
Zigzag Backstep: Minimum bars between Zigzag points to avoid drawing them too close together.

SL & TP (Stop Loss & Take Profit):

ATR Period for SL Shift: Period for calculating ATR, used to adjust the stop loss based on market volatility.
SL Shift Coefficient (from ATR): Multiplier for ATR to set stop loss distance.
TP Coefficient (from SL): Multiplier for SL to determine the take profit level.

STYLING:

Bullish Market Structure color: Set the color used to highlight bullish market structure shifts on the chart. Choose a color that stands out clearly against your chart background.
Bearish Market Structure color: Set the color used to highlight bearish market structure shifts on the chart. Ensure this color contrasts well with the bullish color and your chart background.
Max Bars To Calculate: Limit the number of historical bars analyzed for signals.

3/ How can I set up alerts?

To stay updated on potential trading opportunities, you can set up alerts within the Market Structure Shift.

Step 1: From the indicator settings, customize your alerts by defining your desired parameters. The selected configurations will be used for notifications in Step 2.

Step 2: To receive notifications through the app, pop-ups, alert emails, Webhook URL, sound alerts, or email-to-SMS, enable these features by clicking on TradingView's “Alert” icon.

Step 3: Select Market Structure Shift from the “Condition” dropdown list:

Step 4: You choose the types of notifications you'd like to receive and click the “Create” button.