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Vasyl Ivanov | Order Blocks

Order Blocks Indicator for Long-Term Traders and Scalpers

This indicator is designed to identify order blocks (OBs) across multiple timeframes, offering flexible and adaptable detection mechanisms for both strong and weaker price movements.

Key Features:

Flexible OB Detection:
Detects order blocks with 3 candles during strong movements.
Detects order blocks with 4 candles during weaker movements.
Identifies the highest or lowest extremum between the 1st and 2nd candles to define the starting point of the OB, ensuring accuracy in ranging and trending markets.
In cases where the 2nd candle's extremum is the highest/lowest, the OB size adjusts accordingly.
Multi-Timeframe Analysis:
This indicator enables seamless multi-timeframe order block analysis, removing the need to manually switch between timeframes.
Timeframe mapping:
For intraday and lower timeframes:
< 5 min maps to 30 min
<= 15 min maps to 1 hour
<= 1 hour maps to 4 hours
All other intraday maps to 1 day
Daily charts and higher map to 1 week
This automatic adjustment lets you view both current and parent timeframe order blocks without hassle.
Customizable Backtest Analysis:
The indicator includes a "Show/Hide Overlapped Order Blocks" feature, allowing you to hide order blocks that have already been overlapped. This feature aids in backtesting and historical analysis by offering a cleaner view of how past price action interacted with detected blocks.
[Consider adding a screenshot demonstrating the “Show/Hide Overlapped OB” feature here.]
Color Differentiation by Timeframe:
Customize different colors for local and parent timeframes to easily differentiate order blocks from various timeframes at a glance.
Candle Wicks Customization:
The 'Use Candle Wicks' option allows you to include or exclude candle wicks in OB detection, giving you flexibility in how the blocks are drawn based on your trading style.

How It Works:
This indicator detects key price zones based on order block patterns, which are often followed by significant price moves. By analyzing these blocks across multiple timeframes, it helps traders identify potential reversal areas and support/resistance zones more effectively.

Use Cases:
Scalping: Scalpers can benefit from the rapid detection of short-term OBs to make quick decisions based on high-probability setups.
Long-Term Trading: Longer-term traders can use the multi-timeframe feature to spot higher timeframe OBs while trading lower timeframes, allowing for better alignment with major market movements.

Why It’s Unique:
Unlike other OB indicators, this one combines multi-timeframe detection with customizable OB sizing, extremum detection, and color-coding for clear differentiation between timeframes. Its backtest feature enhances historical analysis, providing a comprehensive toolkit for traders aiming to improve decision-making.

Phát hành các Ghi chú

Improved orderblocks' detection on parent timeframes

Phát hành các Ghi chú

Improved performance issues

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Improved calculations speed

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Fixed runtime error

Phát hành các Ghi chú

Added 4 additional higher timeframes. You can customize color style for each one at your own

Phát hành các Ghi chú

Improved bearish OB detection

Phát hành các Ghi chú

Improved multi-timeframe calculations for long periods

Phát hành các Ghi chú

- Improved detection method
- Added the 'OB Validity Distance' limit

Phát hành các Ghi chú

Improved Order blocks detection by searching for the following imbalance

Phát hành các Ghi chú

Fixed a bug for historical bars

Phát hành các Ghi chú

Improved OB detection after the price rejection

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Fix color's alpha for overlapped order blocks

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Added Internal BoS

Phát hành các Ghi chú

Updated algorithm to detect order blocks bar index by the lowest/highest extremum

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Improved distance on which to hide FVGs and order blocks

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fixed script error

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Fixed another code issue

Phát hành các Ghi chú

Increased the number of visible FVGs

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Improved efficiency

Phát hành các Ghi chú

Prevent calculations out of barstate.isconfirmed

Phát hành các Ghi chú

Fixed error for history bars

Phát hành các Ghi chú

Improved extremums detection

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One more fix for extremums detection

Phát hành các Ghi chú

improved searching of a first extremum

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