PROTECTED SOURCE SCRIPT
Order Block Finder - yzeen ayoub
Core Concept
Order blocks represent areas where large institutional traders (banks, hedge funds) have placed significant orders, creating zones of potential support or resistance. The script identifies these zones by looking for specific candlestick patterns.
How It Detects Order Blocks
Bullish Order Blocks
Formation: Starts with a single bearish candle (close < open)
Confirmation: Followed by a sequence of consecutive bullish candles
Displacement: Price must move up by a minimum percentage from the formation candle
Bearish Order Blocks
Formation: Starts with a single bullish candle (close > open)
Confirmation: Followed by a sequence of consecutive bearish candles
Displacement: Price must move down by a minimum percentage from the formation candle
Key Features
Visual Elements
Rectangles: Draw the actual order block zones using the high/low of formation candles
Equilibrium Lines: Show the middle point of each order block
Risk/Reward Lines: Display stop loss (SL), 2R, and 3R take profit levels
Color Themes: Bright or dark color schemes
Customizable Parameters
Confirmation Candles: How many consecutive candles needed (default: 5)
Display Count: Maximum order blocks to show (default: 20)
Minimum Displacement: Required percentage move after formation (default: 0.2%)
Visual Options: Toggle equilibrium lines, risk/reward levels, signature
Smart Features
Array Management: Automatically removes old order blocks to keep chart clean
Alert System: Notifies when price enters an order block zone
Performance Optimized: Uses efficient counting functions instead of complex loops
Trading Logic
The script assumes that:
Institutional Imbalance: The formation candle represents institutional order flow
Retail Response: The confirmation sequence shows retail traders responding
Future Reaction: When price returns to these zones, it may find support/resistance
Practical Use
Traders use this to:
Identify high-probability entry zones
Set stop losses below/above order blocks
Target 2R and 3R profit levels
Get alerts when price approaches these critical zones
The script essentially automates the process of finding these institutional footprints that many smart money traders look for manually.
Order blocks represent areas where large institutional traders (banks, hedge funds) have placed significant orders, creating zones of potential support or resistance. The script identifies these zones by looking for specific candlestick patterns.
How It Detects Order Blocks
Bullish Order Blocks
Formation: Starts with a single bearish candle (close < open)
Confirmation: Followed by a sequence of consecutive bullish candles
Displacement: Price must move up by a minimum percentage from the formation candle
Bearish Order Blocks
Formation: Starts with a single bullish candle (close > open)
Confirmation: Followed by a sequence of consecutive bearish candles
Displacement: Price must move down by a minimum percentage from the formation candle
Key Features
Visual Elements
Rectangles: Draw the actual order block zones using the high/low of formation candles
Equilibrium Lines: Show the middle point of each order block
Risk/Reward Lines: Display stop loss (SL), 2R, and 3R take profit levels
Color Themes: Bright or dark color schemes
Customizable Parameters
Confirmation Candles: How many consecutive candles needed (default: 5)
Display Count: Maximum order blocks to show (default: 20)
Minimum Displacement: Required percentage move after formation (default: 0.2%)
Visual Options: Toggle equilibrium lines, risk/reward levels, signature
Smart Features
Array Management: Automatically removes old order blocks to keep chart clean
Alert System: Notifies when price enters an order block zone
Performance Optimized: Uses efficient counting functions instead of complex loops
Trading Logic
The script assumes that:
Institutional Imbalance: The formation candle represents institutional order flow
Retail Response: The confirmation sequence shows retail traders responding
Future Reaction: When price returns to these zones, it may find support/resistance
Practical Use
Traders use this to:
Identify high-probability entry zones
Set stop losses below/above order blocks
Target 2R and 3R profit levels
Get alerts when price approaches these critical zones
The script essentially automates the process of finding these institutional footprints that many smart money traders look for manually.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.