SMC Venom Model BPR MT5 v1.0
The SMC Venom Model BPR indicator is a professional tool for traders working within the Smart Money (SMC) concept. It automatically identifies two key patterns on the price chart:
- FVG (Fair Value Gap) is a combination of three candles, in which there is a gap between the first and third candles. It forms a zone between levels where there is no volume support, which often leads to a price correction.
- BPR (Balanced Price Range) is a combination of two FVG patterns that form a “bridge” – a zone of breakout and return to the level, when the price moves with low volume activity, creating a gap between the candles.
These patterns help traders identify key support/resistance levels, breakout zones and entry points, based on the analysis of volumes and price dynamics on the chart, where interaction between large market players and ordinary participants occurs.
The indicator visualizes patterns in the form of rectangles and arrows, and also supports flexible alert settings.
Key Features:
- Pattern display modes: choose between displaying BPR patterns (bullish and bearish) or FVG patterns (bullish and bearish).
- Possibility to hide all patterns for chart analysis.
- Filter by number of bars: minimum/maximum distance between FVGs in BPR structure.
Additional visualization of signals:
- Arrows with a choice of 9 types (standard, thin, fractal, etc.) or manual entry of Wingdings codes, the table of which can be optionally shown on the chart.
- Setting up color, size and their dynamic offset relative to the price when scaling.
Time filter:
- Restricts the indicator to a specified time window (for example, for trading within a session).
Flexible notification system:
- Alerts
- Push notifications to a mobile device.
- Email notifications.
- Sound signals (customizable file, for example, alert.wav).
- Customization of message text (for example, “Up Signal” or “Down Signal”).
Optimization of chart and performance:
- Limitation of history checking (BarsToCheck) to reduce the load on the processor.
- Automatic cleaning of charts when deleting an indicator, which has three modes: deleting only its own objects, completely cleaning or leaving.
Universality:
- The indicator is suitable for use on any time intervals and with any currency pairs.
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