Description

Order Blocks MT4 Indicator

Display OB Option – It allows you to show:
- Both bearish and bullish orders blocks
- Order blocks with bullish signs only.
- Blocks of bearish orders only
- Blocks of orders are hidden.
Look-back Candle Count Set the number of candles the indicator will go back to highlight order blocks
Sensitivity Set to highlight more or fewer order blocks. Higher numbers will let the algorithm highlight stronger order blocks, whereas the lower number will display less (less important) order blocks.
Ob Line Type – Select to highlight only the order block candle (body) only or to highlight both the body of the order block candle as well as its wicks
=== Alerts ===
- Popup Alert The alert will open a pop-up window and an alert sound
- Push Alert – Alert will trigger a text message sent to your mobile phone
- Email Alert – Alert will trigger a text message delivered to your email address
=== Visualization ===
LENGTH OF OB Line Bars If set to zero (zero) the line of the order block will extend all the way to current candle.
OBC Candle Capture Highlight all the candles that comprise the whole order block (whole OB) or the final candle in the order block (last candle alone)
Bull OB line colorSelect the color you prefer
Bear OB line colorSelect the color you want to use
O Line Width – Select the width of the line order blocks
O Line Style Choose the appearance of block lines in order (solid dot, dot, etc.)

A brief refresher on Blocks of Order Blocks:

Order blocks are the’smart money’ footprint on the charts. When price is retraced back to the block that was ordered,, we have the opportunity to jump into the mix and ride their coat-tails. The most effective kinds of order block are those which are followed by an explosion from the opposite direction.

The most powerful order blocks:

Start with liquidity (stop search)
Price is pushed away by a frenzied pace
Causes an imbalance in the market (FVG) because of the volume of money of the transaction

When you are searching for good order blocks, you should ask yourself:

Did price first take liquidity?
Did price stray away from the market and make FVG? (Fair Value Gap)

The price will return to the order block:

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

If you tie these crucial factors with your more timeframe convergences (market structure or order flow and liquidity goals) the block of orders you choose to trade with will be more effective.