MT5 Price Alert for Break of Structure (BoS) and Change of Character (ChoCh)
In this video I show how to place MT5 Price Alert for Break of Structure (BoS) that is used for trade continuation. Then I also show how to palce price alert MT5 for Change of Character (ChoCh) that gives me signal that market direction is changed. I use Break of Structure (BoS) MT5 alert MT5 to let my trade run and then I use Change of Character (ChoCh) MT5 alert to start looking for closing my opened position. This is also MT5 Change of Character (ChoCh) indicator that send me alert to my smart phone when I am not behind PC. MT5 Break of Structure (BoS) indicator tells me to move or shift stop loss to last low or high depending of trade direction.
CHOCH and BOS MT5 alert indicator
In this video I show my trading approach for marking CHOCH and BOS in MT5. BOS alert gives me signal to shift CHOCH zone to swing low or high. Then I watch price action when it comes back to CHOCH zone for continuation or for breaking CHOCH level. If CHOCH level is broken or engulfed then I will try to fill my orders in best possible price of price correction. It happens a lot that I don’t get price fill and market moves away from my entry without me in wining position. But this is part of trading when we aim for higher risk reward ratio. BOS and CHOCH alerts are very trading indicators for me, because it gives me market bias to know in which direction I should trade.
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