Order Block Finder
- Indicatori
- Anton Christiaan Lombard
- Versione: 2.13
- Aggiornato: 17 ottobre 2024
Straight forward keep is simple style Order Block finder.
Now with optional higher timeframe overlay, watermark and candle timer all in one!
No fancy algorithms but tends to be quite accurate for some symbols to predict bounce, return-to and break-through channels.
It is a retrospective indicator (as they all are) and there to help you with better guesses as to where a movement is going towards. For me it works well in 5 and 15 minute periods.
Use with out trade manager/visualiser/bracketing utility for a "try before you buy" anticipatory strategy.
The last two order blocks are shaded and extends past the current time. Prior order blocks (within your selected timeframe - default 5 days back) just marked as empty rectangles as they may be less important in analysis.
Overlay higher timeframe order blocks will only show last Bullish and last Bearish blocks with a dashed line centred in the initiating move.
Rather look in different timeframes than try going far back in one.
Basic Settings
Number of bars up or down after OB assumption - default of 5 works best
BearColour- Bearish order block colour
BullColour- Bullish order block colour
Number days history to take into account- Default of 5 works fine for lower timeframes
If day limit insufficient, set minimum candles to go back - Switching to a higher timeframe can the override day value with this one
Transparency: 0=invisible, 255 Opaque- Make the shaded order block less obvious
Outlined or filled style in less significant OBs (High DPI screens outlines get lost))
Ignore bars where Open Price the same as Close Price
Overlay
Add additional higher timeframe
Timeframe to overlay
Show depth of overlay zone - Extends vertical bar to show OB zone. Click on overlay text (Supply/Demand) to switch it on or off
Overlay timeframe bearish colour
Overlay timeframe bullish colour
Utility
Unique identifier for cleaning up lost OB when refreshing
Compensate for high definition/DPI screens
Style - Changes refresh button depending on colours
Watermark
Show background watermark
Watermark anchor position
X-Axis offset from the anchor
Y-Axis offset from the amchor
Watermark size
Watermark Font
Watermark Colour
Countdown
Show candle timer/countdown
Colour of countdown
Font size of countdown
So far , best OB finder Ive found for MT5 paid or not. Will update should I find any issues, however at this point its being added to my toolkit.
If it was possible, a MTF verification option would make this dynamite! (eg. 1hr + 4hr overlapping OB)
By MTF i mean Mulitple TimeFrame. Im jnsure if its possible to do so with MQL5, but being able to overlay orderblocks from multiple timeframes on a single chart would be incredible and quite unique.