FOREX Order Blocks Indicator

Description

Order Blocks MT4 Indicator

• • Display OB Option: You can show Both bullish and bearish order blocks.
  • Blocks of bullish orders only
  • Blocks of bearish orders only
  • Blocks of orders are hidden.
• Look-back candles count: Set the number of candles the indicator will be able to look back at in order to show the block of orders.
• Sensitivity Adjustable to show more or fewer order blocks. A greater number will make the algorithm display more robust order blocks, while a lower number will highlight more (less significant) order blocks.
• O Line Type Select to highlight the candle that is ordered (body) only or to highlight both the body of the order block candle as well as its wicks.
  • === Alerts === popup alert: The alert will trigger the popup window as well as an alert sound.
  • “Push Alert: The alert will trigger a text message to be sent to your mobile phone.
  • Email alert: The alert will trigger a message via email to the address you have entered.
• === Visualization ===
• Length of the OB Line and Bars If set to the value of 0 (zero), the line of the order block will stretch up to the candle’s current value.
• Ob Candle Capture Select to highlight all candles in an ordered block (whole Ob) or highlight the candle that is the last within the ordered block (the last candle by itself).
• Bull OB Line color: Select the color you want to use.
• Bear the OB Color of the line. Select the color you prefer.
• Ob Line Width: Choose the width of the lines in the order blocks.
• Ob Line Style: Choose your preferred style for the block lines in order (solid dot, solid, etc.).

A quick refresher on Blocks of Order Blocks:

Order blocks represent the smart money’s footprint on the charts. When the price is retraced back in the direction of an order block, we have the opportunity to join in the mix and ride on the coattails of our comrades. The most effective kinds of order blocks are those that are followed by an explosive and massive move in the reverse direction.

The most powerful order blocks:

• First, you must have liquidity (stop hunting).
• Price moves away from the market aggressively.
• Creates a market imbalance (FVG) because of the volume of the move.

If you’re looking for blocks that are good for order, consider:

• Did the price start taking liquidity first?
• Did the price shift strongly and create FVG? (Fair Value Gap)

If the price is returned to an order block

• It will react either to an open candle or to the 50 percent threshold (equilibrium) of the candle.

If you mix these vital aspects with your more powerful timing confluences (market structure or order flow, liquidity goals), the order blocks you select to trade from will be more efficient.

Indicator Display Options:

 

Shows both bearish and bullish order blocks for any time frame:

 

Option to display only bullish or bearish order blocks:

 

Order block highlights change when an order block has been mitigated:

 

Adjust the ‘Sensitivity’ setting to show less (stronger) or more (minor) order blocks:

 

Choose to highlight the ‘last candle’ in the order block or the ‘whole OB’:

 

Choose to highlight the order block ‘candle with wicks’ or ‘candle only’:

 

Adjust the length of the order block lines: