Breaker Blocks MultiTimeframe

kelmarin

This indicator is a refined take on "Breaker Blocks" also known as Unicorns or Hidden LIquidity Blocks.

This is a PRICE ACTION indicator, demonstrating price action that can result in potential good support/resistance levels for taking a long or short trade.

This indicator only displays the body part of order blocks, instead of including wicks that all other Breaker Block indicators do. That makes this script a much more refined version of all other scripts out there. Not only that, this script can collate multiple timeframes into one indicator, again something other scripts cannot do.

This script indentifies Hidden Liquidity - breaker blocks that are order blocks that pass THROUGH a Fair Value Gap. These powerful blocks can be places of interest for a trade.

The BODY of the breaker block, and the 0.5 of the breaker block are key regions for considering a trade, treating that level as either resistance or support.

Important: PLEASE NOTE: This indicator will only show timeframes that are higher than or the same as the current chart timeframe.

For Example, only blocks 12h or higher will show on a 12 hour chart. It will not show 4h blocks on a 12h chart. You would need to go to a 4h chart to see all Breaker Blocks that are 4h or higher drawn.

There is options to change the colours of the boxes.

There is options to weaken the colour of blocks that have been tapped by a wick and thus partially used up, also called partial "mitigated". Once a block has had a wick or body close over it entirely, the block can be considered fully "mitigated" and will disappear from the indicator.

There is a 0.5 level drawn on each box too which can also be a good entry point.

Please do your own research and backtesting.

It is recommended to combine these levels with other concepts for added confluence. You can combine them with Smart Money Concepts, Market Structure, Fibonnaccis, SMAs, EMAs or any other concept to give added confluence to the support / resistance level identified in pink.

This indicator is not a trading strategy on its own. It is best used in combination with other concepts to improve the success.

Backtesting this indicator is highly recommended and incorporated into a full trading system of your own design. This only identifies possible key regions based on Price Action Strategies.

This indicator simply makes the identification of these hot levels easier and simpler to find, especially across multiple timeframes.

A strong bright pink zone on the indicator can be a stronger level than a weak partial block that is in light pink.


Current Timeframes available include: 1h, 4h, 8h, 12h, 1D, 2D, 3D, 4D, 5D, 1W, 1M



https://www.tradingview.com/x/tIFByPag/

The chart above shows pale Violet blocks as partially mitigated or "tapped" blocks.

The blocks in HOT BRIGHT Violet are untapped and potentially stronger levels for a Long or Short trade.

There are many settings to configure and can be tested for free.

https://www.tradingview.com/x/bJpsDOJb/


In the settings shown you can configure colours, and what is shown on the chart, tapped levels, 0.5 of levels and more.


See below and example of a HOT PINK stronger level with a 1,2,3,4,5 Days of blocks in the one area.
https://www.tradingview.com/x/ehlWr1Nj/



See below an example of a weaker pink level. Still valid, but potentially riskier. There is a weaker 5D Block in pale pink and no other days in that same zone.

https://www.tradingview.com/x/Le1ReQm7/


FOR USE: Please contact via message here on Trading View. Access provided for a 1 month trial for free and then lifetime for set fee.

kelmarin

Nota Keluaran

Updated the Settings options to remove unnecessary settings realted to Supply and Demand blocks.