en Order Block 1.2
Metatrader Indicator (MT4/MT5)
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ℹ Overview
A personal implementation of Order Blocks, a simple yet effective position trading strategy. The trader should enter the market or look for trades in the direction of the last order block, if the price range has not been breached in the opposite direction of the breakout.
- Easy and effective to trade
- Order blocks find early price reversals
- The indicator implements alerts of all kinds
- The indicator does not repaint or backpaint
What are Order Blocks are Open Blocks?
- A bullish open block is the first bullish bar after a fresh market low
- A bearish open block is the first bearish bar after a fresh market high
- A signal appears when an open block is broken, becoming an order block
- When an order block is broken to the opposite side, it becomes a reversal block
The indicator will ignore open blocks for clarity.
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Input parameters
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Period
- Amount of bars needed to create a fresh high or low.
- Filter
- Minimum size of the order block bar, expressed as % of ATR.
- Colors
- Set colors and sizes for lines and arrows.
- Alerts
- Enable display/email/push/sound alerts.
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FAQ
- Does the indicator repaint?
- No, it does not.
- Does the indicator backpaint?
- No, it does not.
Screenshots
MyFxBook
