Change of character (ChoCH)
In Smart Money Concepts, the first candle that closes through the swing on the other side of the trend — below the last swing low in an uptrend, above the last swing high in a downtrend.
Why it matters
By the rule, the trend has turned. On short timeframes structure flips often, so a ChoCH is a description, not a forecast.
Education only, not financial advice · All terms