Features:

  • Classic ZigZag swing detection (Depth / Deviation / Backstep) using the standard MQL5 ZigZag approach.
  • Automatic pivot tracking (recent swing points are stored internally for structure analysis).
  • Break of Structure (BOS) detection:
    • Marks continuation breaks in the same structure direction.
    • Draws a horizontal level and labels it "BOS".
  • Change of Character (CHoCH) detection:
    • Marks the first break against the previous structure direction.
    • Draws a horizontal level and labels it "CHoCH".
  • Clean chart objects:
    • Lines and labels are drawn directly on the chart for clear visibility.
    • Updates on new bars to avoid unnecessary redraws.

Parameters:

Parameter Name

Description

InpLookback

How many bars to scan when collecting recent ZigZag pivots for structure detection.

InpDepth

ZigZag Depth (standard MQL5 ZigZag parameter).

InpDeviation

ZigZag Deviation in points (standard MQL5 ZigZag parameter).

InpBackstep

ZigZag Backstep (standard MQL5 ZigZag parameter).

Notes and Limitations:

  • ZigZag repaints: Like all ZigZag-based tools, swing points can update until a leg is confirmed. BOS/CHoCH levels may shift accordingly.
  • Close-based confirmation: Break detection is evaluated using candle closes relative to the relevant swing level.
  • Chart objects: BOS/CHoCH levels are drawn using chart objects (lines + text labels).
  • Performance: Very large lookback values may reduce performance on slower devices or low timeframes.

Screenshots:

Conclusion:

This indicator combines the reliability of the standard MQL5 ZigZag with clear BOS/CHoCH market-structure labeling. It’s a lightweight visual tool for traders who want swing-based structure confirmation directly on the chart.