Order Block Finder Plus
- Indicators
- Anton Christiaan Lombard
- Version: 2.1
- Updated: 24 October 2023
- Activations: 20
You have been waiting for it I know!! AVAILABLE NOW!! After more than 11000 MT5 downloads, hope it helps you as much as it does me.
We added a candle timer and more prominent symbol info display as a bonus as well!
This is a straight forward keep is simple style Order Block finder. No fancy algorithms but tends to be quite accurate for some symbols to predict bounce, return-to and break-through channels.
It is a retrospective indicator (as they all are) and there to help you with better guesses as to where a movement is going towards. For me it works well in 5 and 15 minute periods.
The last two order blocks are shaded and extends past the current time. Prior order blocks (within your selected timeframe - default 5 days back) just marked as empty rectangles as they may be less important in analysis.
Rather look in different timeframes than try going far back in one.
Settings:
Number of bars up or down after OB assumption: The technical signal used for identifying order blocks. The default 5 is a good standard, anything less could give too many hits
Bear Colour: Order blocks resulting in a bearish move colour
Bull Colour: Order blocks resulting in a bullish move colour
Number days history to take into account: How far back to do the calculation - 5 days works well for 1-15 Minute periods
If day limit insufficient, set minimum candles to go back: Using 4H,r D1 and more periods, results in five days simply being insufficient so this is used as an override in addition to the daily count.
Outlined or filled style in less significant OBs (High DPI screens outlines get lost): The last two OBVs are shaded and history defaults to outlined blocks, which in some screen setups becomes too obscure to be useful, so history can be shaded as well.
Unique identifier for cleaning up lost OB when refreshing: Just a behind the scenes convenience for cleaning up the indicator when it is removed from a chart. So if you have another indicator called OBKNOB, then changing this will not interfere with that one.
High definition and theme option for showing the refresh button more clearly on some screens.
Extend the default secondary OBs; width by a factor if they are too narrow or wide to your liking. A factor of 0 effectively hides them.
For the timer, you can set the position, size, colour and if you want the timer and/or the symbol/period and last opening price shown.
Have fun!
