Smart Money Concept with Price Action Indicator for MT5

Overview

The Smart Money Concept with Price Action indicator for MetaTrader 5 is a powerful tool designed for traders who follow institutional trading strategies. This indicator is currently under development, with daily updates and continuous improvements being made. Built by a programmer with a focus on optimization, it aims to provide fast performance, low memory usage, and minimal CPU overhead.

Once completed, this indicator will assist traders in identifying key market structures, such as Break of Structure (BOS), Change of Character (CHOCH), and significant swing points, with precision and speed.

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Key Features (Work in Progress)

🔥 Optimized for Performance

• Efficient Algorithm: Focused on processing only the latest price data for quick and accurate calculations.
• Low Resource Usage: Aims to minimize CPU and memory consumption, making it suitable for all systems.

📉 Clear and Minimalistic Display

• Line Buffers: Utilizes MT5 line buffers for drawing lines instead of creating graphical objects, reducing graphical load.
• Arrow Display: Marks key price points with arrows for clarity without clutter.

⚡ Fast Calculations

• Designed to analyze recent price data while avoiding unnecessary recalculations for historical data.

🎯 Price Action Focus

• Planned features include:
  • Highlighting Swing Highs and Swing Lows
  • Detecting Break of Structure (BOS) and Change of Character (CHOCH)
  • Visualizing market phases and potential trade setups

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Project Status

This indicator is a work in progress. Daily commits are being made to:

• Enhance functionality
• Optimize performance
• Add new features based on trader feedback

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Installation

1. Clone or Download:

   • Clone the repository or download the .mq5 file (work-in-progress version).
   • Repository Link (Add your GitHub repository link here)

2. Install in MT5:

   • Open MetaTrader 5.
   • Go to File > Open Data Folder > MQL5 > Indicators.
   • Place the .mq5 file in the Indicators folder.
   • Restart MT5.

3. Add to Chart:

   • Navigate to the Navigator panel.
   • Drag and drop the indicator onto your desired chart.

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Roadmap

• identify mother bar, inside bar
• identify impulse pullback, swing high low
• identify fractal of swing high low
• identify minor market structure
• identify major market structure (major high,low / inducement / bos,choch)
• identify fibonacci (retracement, circle, timezone)
• identify key level (fvg, order block)

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Feedback and Contributions

We welcome feedback as we continue development! If you encounter any issues, have feature suggestions, or want to contribute to the project, please use the Issues or Pull Requests section on GitHub.

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License

This indicator is provided for personal use only during development. Redistribution or commercial use is prohibited without permission.

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Stay tuned for updates as we work to complete the Smart Money Concept with Price Action indicator!