Two new ICT indicators: Order Blocks and Market Structure, with alerts and an honest stats table
Two new indicators joined the Honest Stats series this week: ICT Order Blocks Honest Stats and ICT Market Structure Honest Stats, both for MetaTrader 5 and MetaTrader 4. Like the rest of the series, they don't just draw the ICT idea on your chart - they also measure, on your own chart's history, how often it really worked.
ICT Market Structure Honest Stats
Market structure is the backbone of ICT trading: are the highs and lows getting higher (bullish) or lower (bearish), and when does that change?
- Swing labels: every swing high and low is marked HH (higher high), LH (lower high), HL (higher low) or LL (lower low)
- BOS (break of structure): a candle closes beyond the last swing in the direction of the trend - the trend goes on. Drawn as a dashed line
- CHoCH (change of character): a candle closes beyond the last swing against the trend - the structure turns. Drawn as a solid line
- Next-break levels: dotted lines at the swing high and swing low that the next BOS or CHoCH needs
- Higher timeframe: show the H4 structure on your M15 chart with one setting
- Alerts: on a new CHoCH (and on BOS if you want) - popup, sound, push to your phone, email
The stats table asks a simple question about every break on your chart: from the close of the breaking candle, did price move 1 ATR in the break's direction before it moved 1 ATR against it? (ATR = the average size of one candle.) Then it asks the same question from random bars in the same direction - the normal drift of the market - and shows the difference. When the difference is bigger than luck can explain, it turns green.
What it showed on gold (our broker's MetaTrader 5 history):
- Gold H4, 15,002 bars since 2011: after a bullish CHoCH price went on 1 ATR first 59% of the time, against 50% from random bars - +9.1 points, green
- Gold H1, 52,488 bars since 2011: after a bullish CHoCH price went on 55% of the time against 48% - +6.6 points, green
Your chart shows your own numbers - for your symbol, your timeframe and your settings.
👉 MT5: ICT Market Structure Honest Stats MT5
👉 MT4: ICT Market Structure Honest Stats MT4
ICT Order Blocks Honest Stats
An order block is the last opposite candle before a strong move - the place where, in ICT terms, big orders were filled. When price comes back to it, many traders expect a reaction.
- Real displacement only: a bullish block is the last bearish candle before a move that closes at least 1 ATR above it within 3 candles AND breaks the high of the 10 candles before it (a break of structure). Bearish = the mirror
- Fresh, tested, broken: fresh blocks are filled, blocks price already came back to are outlined, broken blocks turn grey or are hidden
- 50% line (mean threshold) inside every block
- Higher-timeframe blocks: H1 or H4 blocks on your M5 chart
- Alerts: when price comes back to a fresh block, and optionally when a new block forms
The stats table tests every block on your chart: when price came back, did it turn 0.5 ATR away before going 0.5 ATR through the other side? And it runs the same test on fake zones of the same size, at the same distance from price, at random times - so you see what the order block adds on top of the market's normal behaviour.
👉 MT5: ICT Order Blocks Honest Stats MT5
👉 MT4: ICT Order Blocks Honest Stats MT4
Why "honest stats"?
Every ICT indicator draws boxes and lines. Very few tell you whether those boxes and lines did anything on the market you trade. Ours put the numbers right on the chart - change a setting and you see at once how your version does. Use what works on your symbol and skip what doesn't.
The free ones
The rest of the series is free: Fair Value Gaps, Liquidity Levels, SMT Divergence and Killzones (MT4 versions are linked on each page).
Questions?
Questions, ideas or a setting you want tested? Write in the comments below or join my public group TrueRisk Traders.
If you already use one of the Honest Stats indicators, a short review on its MQL5 Market page helps a lot. Thank you!
