Order Block Box
- Indicadores
- Usiola Oluwadamilol Olagundoye
- Versión: 1.0
The Advanced Order Block Indicator for MetaTrader 5 is designed to enhance technical analysis by identifying significant order blocks that sweep liquidity and create Fair Value Gaps (FVG) when pushing away. This indicator is ideal for traders who focus on institutional trading concepts and wish to incorporate advanced order flow and price action strategies into their trading routine.
Overview
Order Block Identification: An order block represents a price area where a substantial number of orders (either buy or sell) are concentrated, often leading to significant market moves. This indicator not only identifies these order blocks but also ensures they meet specific criteria for robustness and significance.
Key Features
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Liquidity Sweep:
- Bullish Order Blocks: The indicator identifies bullish order blocks where the price sweeps the liquidity of the previous low, indicating a potential reversal or continuation of an uptrend. This sweep of liquidity ensures that the order block is significant and not merely a minor price fluctuation.
- Bearish Order Blocks: For bearish order blocks, the price sweeps the liquidity of the previous high, indicating a potential reversal or continuation of a downtrend.
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Fair Value Gap (FVG) Creation:
- When an order block is formed, it must create a Fair Value Gap (FVG). An FVG occurs when there is a price gap between two candles, typically indicating an imbalance in supply and demand. The creation of an FVG when the price moves away from the order block signifies a strong and potentially sustainable move.
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Customizable Visuals:
- Users can customize the appearance of the order blocks on their charts, including the color, width, and style of the lines marking the order blocks. This makes it easier to integrate the indicator into existing chart setups without cluttering the visual space.
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