Change of character (CHoCH) is the structural signature of a trend flipping. In an uptrend it occurs when price closes below the most recent swing low (the one that supported the latest higher high). In a downtrend, when price closes above the most recent swing high.
CHoCH is the counterpart of BOS: BOS continues the trend, CHoCH ends it. After a CHoCH the next BOS in the new direction is what confirms the reversal — many systems wait for both before flipping bias.
CHoCH is a common entry trigger for counter-trend setups and a common exit trigger for trend-followers who want out of an ending move before the next BOS forces the issue.
Beispiel
Uptrend with most recent swing low at 50,500 and swing high at 52,000. Price closes at 50,300 — that is a CHoCH, marking the first structural sign of a reversal.
Wie Noon Barbari Change of character (CHoCH) nutzt
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BOS / CHoCH in the designer →Verwandte Begriffe
- Marktstruktur
Break of structure (BOS)
Price closing through a prior swing point in the direction of the existing trend.
- Marktstruktur
Swing low
A local trough: a bar whose low is lower than the N bars on each side.
- Marktstruktur
Trend
A persistent directional drift in price — up, down, or sideways.
- Marktstruktur
Support
A price level where falling demand outpaces supply, halting or reversing declines.