Order Block Void Indicator MT5
- Индикаторы
- Eda Kaya
- Версия: 1.11
Order Block Void Indicator MT5
The Order Block + Void Indicator in MetaTrader 5 is an advanced tool designed to detect key liquidity areas and highlight them as order blocks. These zones are frequently utilized by institutional traders, making them ideal reference points for determining support and resistance levels. This indicator visually marks bullish order blocks with green boxes and bearish order blocks with red boxes. Additionally, once an order block is consumed, it turns gray to indicate its depletion.
Indicator Specifications
Feature | Details |
Category | ICT - Smart Money - Liquidity |
Platform | MetaTrader 5 |
Skill Level | Advanced |
Indicator Type | Reversal - Continuation |
Time Frame | Multi-Timeframe |
Trading Style | Scalping - Day Trading |
Markets | Forex - Crypto - Stocks |
Overview of the Indicator
This tool systematically identifies potential areas where order blocks form and plots them on the chart. The regions marked by the indicator serve as strong reference points for placing Stop-Loss (SL) and Take-Profit (TP) levels. It is especially beneficial for traders following ICT and Smart Money trading methodologies.
Bullish Order Blocks in Action
For example, in the 1-hour Solana (SOL) chart, the indicator detects an order block and marks it accordingly. When the price revisits this zone, a potential reversal may occur. As seen in the chart, the price rebounded from the bullish order block, presenting a buy opportunity. The used portion of the order block is highlighted in gray.
Bearish Order Blocks in Action
A similar concept applies to bearish conditions. In the NZD/USD 1-hour chart, the indicator spots a bearish order block and plots it on the chart. As the price returns to this level, a potential sell opportunity is established. Fully consumed order blocks are visually updated by turning gray, signaling their invalidation.
Indicator Configuration
- Chart & Object Theme: Light mode is used.
- Back Candle Check: The indicator scans 1000 previous candles to determine order blocks.
- Object Prefix: Specifies a unique identifier for elements drawn by the indicator.
- Vertical Line Display: Enabled to indicate the formation of order blocks.
- Level 1 Trends: Disabled.
- BOS & ChoCH Level 1: Break of Structure (BOS) and Change of Character (ChoCH) are turned off for level 1.
- Level 2 Trends: Enabled.
- BOS & ChoCH Level 2: Break of Structure (BOS) and Change of Character (ChoCH) are turned off for level 2.
- BOS & ChoCH Level 2 Labels: Labels for BOS and ChoCH remain disabled.
- Order Block Type: Aggressive mode is selected.
- Order Blocks Display: Enabled.
- Used Order Block Color: Consumed order blocks are marked in gray.
- Invalid Blocks on Close Beyond Zone: Enabled to remove invalidated zones.
- New Zone Intersection Removal: Enabled to prevent overlapping order blocks.
- Invalid Zone Display: Disabled.
Final Thoughts
The Order Block + Void Indicator provides a strategic advantage to traders operating in Forex, cryptocurrencies, and stock markets. It is an essential tool for those utilizing liquidity-based approaches in MetaTrader 5, helping optimize trade setups with precision.