OPEN-SOURCE SCRIPT
Updated Math by Thomas SMC Swing Range + Premium/Discount Zones
Description:
"Math by Thomas – SMC Swing Range + Premium/Discount Zones" is a Smart Money Concepts (SMC) based indicator designed to help traders visually understand market structure and value zones.
This tool automatically detects and marks:
🔺 Recent Swing Highs and Lows
🟧 Midpoint Line between swing high and low
🟥🟩 Premium/Discount Zones for value-based entries
🔤 HH, HL, LH, LL Labels to identify trend structure
🔁 BoS (Break of Structure) and CHoCH (Change of Character) confirmations
Built with Pine Script v6, this indicator is optimized for both intraday and positional traders who rely on structure-based decision-making.
🛠️ How to Use:
Apply to any chart – Works on all timeframes and instruments.
Swing High/Low Detection:
Uses pivot logic with adjustable strength to find recent key turning points.
Displays shaded horizontal boxes for visual clarity.
Midpoint Line:
Automatically drawn between the last high and low.
Acts as the fair value level for identifying overbought/oversold zones.
Premium/Discount Zones:
Above midpoint = Premium (consider shorting).
Below midpoint = Discount (consider buying).
Structure Labels:
HH (Higher High), HL (Higher Low), LH (Lower High), LL (Lower Low).
Color-coded to reflect bullish or bearish trends.
BoS & CHoCH:
Structural breaks are labeled automatically to signal possible trend continuation or reversal.
⚙️ Settings:
🎯 Pivot Strength – Adjusts how far back/forward candles must confirm a swing.
✅ Toggle visibility of:
Swing Lines
Labels
BoS / CHoCH
Premium / Discount zones
🎨 Customize colors for each visual component.
🧠 Best Practices:
Use in combination with Order Blocks, Fair Value Gaps, or Volume Imbalances.
Ideal for traders applying Smart Money Concepts (SMC) with a structure-first mindset.
"Math by Thomas – SMC Swing Range + Premium/Discount Zones" is a Smart Money Concepts (SMC) based indicator designed to help traders visually understand market structure and value zones.
This tool automatically detects and marks:
🔺 Recent Swing Highs and Lows
🟧 Midpoint Line between swing high and low
🟥🟩 Premium/Discount Zones for value-based entries
🔤 HH, HL, LH, LL Labels to identify trend structure
🔁 BoS (Break of Structure) and CHoCH (Change of Character) confirmations
Built with Pine Script v6, this indicator is optimized for both intraday and positional traders who rely on structure-based decision-making.
🛠️ How to Use:
Apply to any chart – Works on all timeframes and instruments.
Swing High/Low Detection:
Uses pivot logic with adjustable strength to find recent key turning points.
Displays shaded horizontal boxes for visual clarity.
Midpoint Line:
Automatically drawn between the last high and low.
Acts as the fair value level for identifying overbought/oversold zones.
Premium/Discount Zones:
Above midpoint = Premium (consider shorting).
Below midpoint = Discount (consider buying).
Structure Labels:
HH (Higher High), HL (Higher Low), LH (Lower High), LL (Lower Low).
Color-coded to reflect bullish or bearish trends.
BoS & CHoCH:
Structural breaks are labeled automatically to signal possible trend continuation or reversal.
⚙️ Settings:
🎯 Pivot Strength – Adjusts how far back/forward candles must confirm a swing.
✅ Toggle visibility of:
Swing Lines
Labels
BoS / CHoCH
Premium / Discount zones
🎨 Customize colors for each visual component.
🧠 Best Practices:
Use in combination with Order Blocks, Fair Value Gaps, or Volume Imbalances.
Ideal for traders applying Smart Money Concepts (SMC) with a structure-first mindset.
Release Notes
🔄 Swing Structure + Premium/Discount Zone UpdateIntroduced pivot-based swing detection using configurable strength
Added HH, HL, LH, LL labeling with optional BoS/CHoCH markers
Displays real-time premium and discount zones between recent swing high and low
Optional swing lines and midpoint tracking using box overlays
This version emphasizes market structure clarity with premium/discount context, while maintaining performance and visual simplicity.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.