Settings

The Market Structure & Price Action Toolkit includes several input parameters that allow users to customize the analysis according to their trading preferences.

Input Parameter Settings

SYSTEM	It determines the active system for analysis to switch between Market Structure, Grid, or turning the system off. Note: This setting directly impacts the type of analysis performed and the visual elements displayed on the chart.
ZONES_SR	It controls the type of retail zones to display, offering options like Highs/Lows and Confirmed Highs/Lows.
Volume_OB	It enables or disables the volume metric order block feature.
periods	It defines the number of periods for volume order block calculation Note: It influences the breadth of volume trends considered.
Filt	It is a boolean input to filter order blocks for institutional relevance, potentially reducing the number of displayed order blocks.
ZONES_OB	It controls the type of institutional zones to display, such as Supply/Demand or Orderblocks.
ZONES_Fibb	It enables or disables the Fibonacci feature.

1. SYSTEM

Default: Off

Determines the system to be used: Market Structure, Grid, or Off.

SYSTEM paramter changes the focus of the script between market structure analysis and grid system.

Recommended Values:

• Conservative: Off

• Moderate: Market Structure

• Aggressive: Grid

Tip: Choose Market Structure for trend analysis and Grid for range-bound markets.

2. ZONES_SR

Default: Off

Determines the type of retail zones to be used: Highs/Lows, Confirmed Highs/Lows, or Off.

ZONES_SR paramter changes the type of support and resistance zones plotted on the chart.

Recommended Values:

• Conservative: Off

• Moderate: Highs/Lows

• Aggressive: Confirmed Highs/Lows

Tip: Use Highs/Lows for a broader view and Confirmed Highs/Lows for more precise levels.

3. Volume_OB

Default: Volume metric OB

Determines whether Volume metric Order Blocks are used.

Volume_OB paramter enables or disables the plotting of volume metric order blocks.

Recommended Values:

• Conservative: Off

• Moderate: Volume metric OB

• Aggressive: Volume metric OB

Tip: Enable for additional insights into order block significance based on volume.

4. periods

Default: 2

Defines the number of periods for Volume metric Order Blocks.

"periods" parameter affects the sensitivity of order block identification based on volume.

Recommended Values:

• Conservative: 3

• Moderate: 2

• Aggressive: 1

Tip: Increase periods for more significant order blocks; decrease for more frequent signals.

Here's an example. In a highly volatile market, you might increase the "periods" setting for volume order blocks to capture broader volume trends. And in a more stable market, a lower setting might be preferred for more immediate insights.

5. Filt

Boolean to filter institutional Order Blocks.

Filt parameter filters order blocks to capture only institutional order blocks.

Tip: Enable to focus on potentially more relevant institutional order blocks.

The "Filt" parameter can be enabled to focus on institutional-level order blocks, which are often more reliable indicators of significant market moves.

Visual Settings

1. UpStructure

Default: color.rgb(91, 200, 94)

Color for upward market structure lines. Choose a color that stands out against your chart background for better visibility.

2. DnStructure

Default: color.red

Color for downward market structure lines. Choose a color that contrasts with upward lines for clear differentiation.

3. textColor

Default: color.gray

Color for text labels on the chart. Customization Tips: Ensure text color is readable against your chart background.

Advanced Settings

1. autoFibb

It determines the length of the Fibonacci sequence used for analysis. Longer sequences provide broader levels, while shorter sequences offer more detailed levels.

2. alert_combine

Combines multiple alert conditions into a single alert. It may result in fewer alerts but potentially more significant signals.

We recommend using a combination of these settings to create a multi-layered analysis approach. For instance, use the Market Structure system to identify the overall trend, then refine entry and exit points using support and resistance zones. Finally, confirm these levels with volume-based order blocks.

Additionally, Fibonacci levels can be used in conjunction with these other tools to set precise entry and exit points, especially in swing trading strategies.