Breaker Block and Order Block Indicator MT4
- Indicatori
- Eda Kaya
- Versione: 1.11
Breaker Block and Order Block Indicator for MT4
The Breaker Block + Order Block Indicator (BB+OB) is a specialized tool crafted for ICT traders. This indicator employs a proprietary algorithm to pinpoint regions where Breaker Blocks and Order Blocks coincide. These key areas are represented on the MetaTrader 4 (MT4) platform as bullish zones in green and bearish zones in brown. By utilizing this indicator, traders can recognize critical price zones, enhancing their trading strategies and decision-making process.
BB + OB Indicator Overview
Category | ICT - Smart Money - Supply & Demand |
Platform | MetaTrader 4 |
Skill Level | Advanced |
Indicator Type | Reversal - Leading - Breakout |
Timeframe | Multi-Time Frame |
Trading Style | Scalping - Day Trading - Intraday Trading |
Trading Market | Forex - Cryptocurrencies - Indices |
Key Features of BB + OB Indicator
The BB + OB Indicator is a sophisticated and effective tool tailored for ICT trading. It identifies and marks areas where Breaker Blocks and Order Blocks overlap, making them easily visible on the chart. By leveraging a unique calculation algorithm and adjustable settings, this tool provides traders with valuable insights to refine their trading tactics.
Detecting Bullish Overlap of Breaker Block and Order Block
In the 15-minute GBP/JPY chart below, the BB + OB Indicator has pinpointed bullish Order Blocks and Breaker Blocks, highlighting their convergence in green. Once the price revisited this crucial area, it responded sharply and resumed its upward trajectory.
Detecting Bearish Overlap of Breaker Block and Order Block
In the 15-minute EUR/USD chart, a downtrend is evident as the price forms lower lows. The BB + OB Indicator has successfully identified Order Blocks and Breaker Blocks within this trend, showcasing their overlapping region in brown. These areas can help traders anticipate price movements and refine their trading decisions.
Indicator Configuration
Display Settings:
- Chart and Object Colors: Customize the visual theme.
General Settings:
- Candles to Analyze: Define how many past candles are considered in calculations.
- Show Start Line: Enable or disable the starting point of analysis.
- Hide Intersection: Show or conceal overlapping order blocks.
Level 1 Settings:
- Trend Calculation Type: Choose the method for dotted line trends.
- Show/Hide Level 1 Trend: Control the visibility of Level 1 trends.
Level 2 Settings:
- Show/Hide Level 2 Trend: Toggle the display of Level 2 trends.
Order Block (OB) Settings:
- Mode Selection: Choose between Normal, Aggressive, or Defensive modes.
- Show/Hide Order Blocks: Enable or disable the display of Level 1 Order Blocks.
Breaker Block (BB) Settings:
- Mode Selection: Choose between Normal, Aggressive, or Defensive modes.
- Show/Hide Breaker Blocks: Toggle the display of Level 1 Breaker Blocks.
Order Block + Breaker Block (BBOB) Settings:
- Show/Hide BBOB Zones: Enable or disable the visualization of overlapping Breaker Blocks and Order Blocks.
Conclusion
The BB + OB Indicator is an essential asset for traders searching for overlapping Order Block and Breaker Block regions. It also allows independent identification and visualization of these blocks on price charts. This indicator empowers traders to make quick, data-driven decisions for improved trade execution and profitability.