SCOB [ValhallaAlgo]

5 thg 11, 2023

🔥 INTRODUCTION: 🔥

The Magic SCOB Indicator instantly identifies Single Candle Order Blocks.
Engineered to empower traders, it highlights key buying or selling zones that often lead to sharp price movements upon revisit.

This tool works on any asset and all time frames. Unlike ordinary order blocks, the SCOB algorithm incorporates market structure, candle formation patterns, and liquidity.
Its swift visualization empowers traders to focus on order blocks with higher-probability reactions, enabling optimal trade setups.


🟣 KEY FEATURES:

⚡️ SCOB Candles Made Visible:
Easily identify SCOB candles as they form.

⚡️ SCOB Zones Highlighted:
The indicator plots SCOB Zones with options to display Naked, Mitigated, Liquidated, or all at once.
Quickly identify areas of interest and plan ahead of the majority.

⚡️ Strategic Entry Points:
Capitalize on retests within strong SCOB Zones to secure optimal trade entries.

⚡️ Clean Trade Invalidation:
Minimize risk with predictable Stop Loss (SL) placements.


🟣 HOW TO USE IT:


⚡️ 1. Identify a Strong SCOB Formation:
Look for bullish patterns in an uptrend or bearish patterns in a downtrend.

⚡️ 2. Wait for the Price to Move Away:
The stronger the move, the better.

⚡️ 3. Open the Trade on SCOB Zone Retest:
Set your SL below the SCOB.
During extreme volatility, consider a wider SL.

⚡️ 4. Take Profit (TP) at Major Pivots:
Secure profits incrementally.
Move your SL higher as the price progresses.


🟣 SETTINGS:

⚡️ Color Styles:
Fully customize colors to match your personal chart style.

⚡️ SCOB History:
Set the number of historical SCOBs displayed on the chart.

⚡️ SCOB Type:
Choose to display Naked, Mitigated, or Liquidated SCOBs.
Display bullish, bearish, or all SCOBs.

⚔️ Chart Warriors ⚔️
Let’s trade smarter, together!

15 thg 11, 2023

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🟣 The S.C.O.B acronym stands for Single Candle Order Block.

🟣 The indicator highlights SCOB candles, marking horizontal areas and levels.

🟣 It works on any asset and all time frames, unlike ordinary order blocks the SCOB algorithm considers market structure, candle formation patterns, and liquidity.

🟣 This provides visualization, focusing on order blocks with a higher probability reactions for potential trade setups.