Smart Money Concepts Indicator for MetaTrader 5

Related: Institutional Market Reversal - The Smart Money Concepts Way - another powerful indicator for MetaTrader 5 traders.

This indicator integrates the comprehensive Smart Money Concepts (SMC) framework into your MetaTrader 5 chart, offering real-time visualization of five essential institutional concepts:

Also recommended: SMART C Liquidity Sweep and Rejection Detector - similar indicator with strong performance on MetaTrader 5.

Market Structure (BOS/CHoCH)

Order Blocks (OB)

Fair Value Gaps (FVG)

Equal Highs and Equal Lows (EQH/EQL)

BUY/SELL signal arrows

Each component is individually customizable and can be toggled on or off, ensuring adaptability to various trading strategies and preferences. The indicator's ATR-adaptive design ensures consistent performance across different symbols and timeframes.

The Market Structure engine employs a configurable lookback period to identify swing pivots and draw horizontal lines at Break of Structure (BOS) or Change of Character (CHoCH) points. Swing labels (HH, HL, LH, LL) are strategically placed at pivot points, providing a clear indication of trend progression. Upon confirming a bullish BOS, the indicator identifies the most recent bearish candle before the breakout, labeling it as a Bullish Order Block. Conversely, for bearish BOS events, the indicator locates the last bullish candle, marking it as a Bearish Order Block. These Order Blocks are visually represented as filled rectangles, utilizing the midpoint-to-bottom (bull) or top-to-midpoint (bear) of the origin candle body, and are automatically deactivated when price action renders them irrelevant.

Fair Value Gaps are detected using a classic three-candle pattern, where a bullish FVG forms when the low of the candle two bars ahead exceeds the high of the candle two bars behind, creating an unfilled gap. A minimum gap size of 15% of ATR is applied to minimize noise. FVGs are displayed as semi-transparent boxes and are deactivated upon price mitigation. The Equal Highs and Equal Lows module identifies pivot highs or lows that match previous pivots within an ATR-based sensitivity range, connecting them with dashed lines and labeling them as EQH or EQL, indicating potential liquidity targets for smart money.

Key features:

- Automatic BOS and CHoCH detection with trend tracking

- HH / HL / LH / LL swing labels at pivots

- Bullish and Bearish Order Block zones with mitigation

- Bullish and Bearish Fair Value Gap boxes with mitigation

- Equal Highs and Equal Lows detection with connectors

- BUY and SELL arrows based on OB retest, with optional FVG filter

- ATR-14 adaptive thresholds for accurate detection

- Independent toggling and color customization for all modules

- Automatic chart cleanup on removal or reinitialization

Input Parameters:

Note: This indicator is designed for educational and analytical purposes. Historical signal performance does not guarantee future outcomes. Always test on a demo account before deploying with live capital.

You may also like: Fair Value Gap Auto-Detector for Smart Money Concepts Trading - excellent alternative for indicator users on MetaTrader 5.

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.