SMC Dixchange(DavidGlz)

The TradingView indicator, named "SMC Dixchange," is designed to help traders apply Smart Money Concepts (SMC) in their technical analysis. It provides an overlay on the chart that visualizes various key elements of market structure and relevant events according to this methodology.

https://www.instagram.com/p/DJCPBO_MH_J/?next=%2F

Main Features of the Indicator:

Market Structure: Identifies and displays both internal and swing market structure. This includes detecting Breaks of Structure (BOS) and Changes of Character (CHoCH).

Equal Highs/Lows (EQH/EQL): Detects and marks levels on the chart where the price has formed equal highs or lows, suggesting liquidity zones.



Order Blocks (OB): Draws both internal and swing order blocks, which are areas of interest where the price is expected to react. It offers options to filter these blocks and visualize information about their volume and Point of Control (POC).



Fair Value Gaps (FVG): Identifies and draws FVGs, which are price inefficiencies that the market might tend to fill. It also displays information about the volume, POC, and the maximum price penetration percentage within these gaps.

see video for operation

<deleted>




Multi-Timeframe Levels (MTF Highs & Lows): Allows displaying high and low price levels from higher timeframes such as daily, weekly, and monthly.


Premium and Discount Zones: Draws premium (potential selling), discount (potential buying), and equilibrium zones based on recent price movements.



Swing Points and Strength/Weakness of Highs/Lows: Can show swing points and highlight the most recent strong or weak highs/lows, providing information about trend strength.



Trendlines and Breaks: Includes functionality to detect and draw trendlines, as well as to signal their breakouts.



Fibonacci Retracements: Offers the ability to plot Fibonacci levels based on the latest pivot movements to identify potential retracement and extension zones.




External Liquidity (OTC Liquidity): Identifies and visualizes liquidity zones above highs (Buyside) and below lows (Sellside), marking when the price "grabs" such liquidity.



Footprint Candles (Optional): Has an option to display footprint-type candles, which can offer a more detailed view of volume and delta within each candle.((Only works with the paid version of TradingView))




Alerts: Sets up alerts for various events detected by the indicator, such as structure breaks, order block formation, FVGs, EQH/EQL, and liquidity grabs.

Importance of Volume Reading with "SMC Dixchange":

The volume reading provided by this indicator is crucial for enriching structural analysis:




Volume in Order Blocks (OB):


The indicator calculates and displays the total, buy, sell, and delta volume for order blocks. It also identifies the Point of Control (POC) within the OB.

Relevance: This information helps assess the strength of an order block. An OB with significant volume and a clear delta (buyer or seller) suggests a higher probability of price reaction.

The POC can act as a precise support or resistance level. Additionally, the maximum price
penetration percentage into the OB is shown, offering insight into how much the zone has been tested.

Volume in Fair Value Gaps (FVG):

Similar to OBs, it calculates total, buy, sell, delta volume, and the POC for the FVG zone.

Relevance: The volume associated with an FVG indicates whether the inefficiency was created forcefully. An FVG with low volume might be less significant. The POC can signal a level of interest within the gap, and the maximum penetration percentage helps see how much of the inefficiency has been "filled."

<deleted>

Volume in the Strength/Weakness of Highs and Lows:

When identifying strong or weak highs/lows, the indicator shows the accumulated sell/buy volume, respectively.

Relevance: This can help confirm the validity of these structural levels. A "Strong High" with significant selling volume would carry more weight.





Intrabar Volume Analysis (Optional Footprint Type):

This function breaks down buy and sell volume within each candle on a lower timeframe, calculating the delta and the price with maximum volume (maxV_ltf).

Relevance: It offers confluence for identified structures. For example, a strong buying delta in a candle testing a bullish OB would reinforce a potential bullish reaction.



In summary, the "SMC Dixchange" indicator aims to automate the identification of multiple key Smart Money Concepts. Incorporating volume analysis into market structures allows for:

Validating the importance of structures: Zones with significant volume and delta are more reliable.

Identifying precise reaction levels: The POC within OBs and FVGs.



Assessing buying or selling pressure: The delta at critical points.

Understanding how key zones are "tested": By tracking maximum penetration.

By combining structural information with this volume data, you can gain a deeper perspective on market dynamics and make more informed trading decisions according to SMC principles.