This script analyses candle stick patterns and draws order blocks in real time, it is designed to be very easy to use and works on all markets.
With a simple sensitivity configuration to control the range of candles in scope for analysis, the order blocks are automatically drawn and removed in real time if price action closes through an order block.
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BOS Lines The script has been updated to display bullish break of structure lines which are used as markers to calculate the order blocks but were not displayed in the previous version.
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Trend Bar Colours Added candle colours by trend; this option colours candles in either green or red based on the last break in structure to help in maintaining positions and give a general view of trend.
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BOS Candle Highlighting I have added the ability to highlight the candle that caused a break in structure, if this option is turned on then BOS candles are shown in yellow
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Bearish BOS Lines I have added the bearish break of structure lines which appear once the structure is broken to the downside based on the defined candle range.
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Previous Day/Week/Month Levels This update allows you to optionally display the open, close, high and low levels of the previous day/week and month regardless of the timeframe you are viewing to help with identifying significate price points.
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Visual Adjustments The labels for HLOC have been moved to the right by 10 more candles so they do not cover live candles
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This update provides a third candle colour for candles falling outside of the range of a break in structure possibly indicating a reversal or a false break. The script has also been simplified for faster loading times and a cleaner look on the chart.
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The script has been updated to include the following new features:-
Bullish BOS Lines
Bearish BOS Lines
Previous Daily High/Low Lines
Trend line and BOS candle colour options
You can enable these features within the configuration section of the script.
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The script has been updated top the latest version of pine script and added the following updates:-
Selection of bullish break source
Selection of bearish break source
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The script has been updated updated with the following features:-
You can now turn off trend colours
You can optionally turn off break of structure candle highlighting
You can add alerts for bullish and bearish break of structure
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This update includes the following features:-
You can now change the colour of order blocks that have already been hit/mitigated
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This update provides the following features:-
Better detection of the mitigated order blocks by checking that the block hasn't been tested previously and by setting a minimum start point for a re-test candle
Optional highlighting of re-test candles for both bearish and bullish order block re-tests
Alerts for bullish and bearish order block re-tests
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This update includes the following features:-
I have added the option to show mitigated order blocks within the configuration
Great work! It would be really awesome if you could implement imbalances as well. That would compliment it really good
thoiruddin
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This is great. I've been using it with my strategy. I have a request, if you can add buy sell arrow after candle close or break order block, that will be good too.
MarkMiddleton2020
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@thoiruddin, is this to use it with a breakout strategy not a retest of the OB?
thoiruddin
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@MarkMiddleton2020, do you make mt4 version? I cannot send message because of my reputation.
MarkMiddleton2020
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@thoiruddin, I am looking at mt4 and MT5 for a version of this. Might create it soon
thoiruddin
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@MarkMiddleton2020, that will be great. Do you accept any suggestion from others if the indicator ready? And let me know too.
thoiruddin
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@MarkMiddleton2020, after playing with your Order Block. Why not you add this options.
1. Show Buy/Sell/Break signal arrow = So we know when the price reaches of the OB zones, it either retest or break. Let's say if the retest done, so the signal come Buy or Sell. If it break, maybe price want to return back to the zone. 2. Show Bearish/Bullish BOS line text under or above the line. I think this one need to code carefully because of the liquidity. Hard to see using candles actually. 3. Filter OB with High/Low = I know you already have this with HTF Markers. 4. Show Imbalance = Good for scalping in lower time frame. 5. Show Highest Time Frame OB = values for timeframe , come with text next/above/below where we can see which HTF OB is. 6. Show Point of Interest
Hope you can consider this features :)
jedicross901x
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@thoiruddin, Please mate, i need help understanding how this indicator works. Can you please help out?
thoiruddin
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@jedicross901x, Every person have their own strategy. This is what I use the indicator.
1. Sensitivity is = 30. This is my default in Higher timeframe and mark it with horizontal line or rectangle. If ltf, I use 40-50. I need to filter the zone. 2. Use Heiken Ashi. It's much more better to filter the zone. 3. Understand how the BOS work. Whenever price break the bos line, you need to wait for the price return to the ob back. (RTO) 4. Your entry will be in lower timeframe.
jedicross901x
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@thoiruddin, This is perfect bro. I think it's a bit clear now. I am a price action trader but the indicator got my attention. Thank you 🙏