RelicusRoad Order Blocks MT4
- Indicators
- Version: 2.297
- Activations: 10
RelicusRoad Order Blocks is an order block indicator for MetaTrader 4 and MetaTrader 5 that finds displacement candles, marks the candle that started each move as a bullish or bearish order block, and tracks how far price has traded back into it.
It is written for traders who work with smart money concepts (SMC).
How it works
A displacement candle is one whose body is at least 1.5 times the Average True Range (ATR) of the last 14 bars and at least 55 percent of its own high-to-low range. The indicator then looks up to three candles back for the last candle of the opposite color, and that candle's high and low become the order block. If the displacement also closed beyond the highest high or lowest low of the previous 20 bars, the block scores higher, but a structure break is not required. Only completed bars are used, so the forming bar never creates or changes a block. Each block has a role and a state:
- Bull OB: the origin of a bullish displacement.
- Bear OB: the origin of a bearish displacement.
- Bull Breaker and Bear Breaker: a bearish block that price closed above and held, or a bullish block that price closed below and held, judged on the last three closes.
- Fresh: price has traded less than halfway into the block, though it may already have touched it.
- Mitigated: price has traded at least halfway into the block.
Each block carries a strength score between 0 and 1. It starts from the size of the displacement, halves about every 250 bars of age, falls as price trades deeper into the block, and is cut by a quarter when the block becomes a breaker. Blocks below 0.25 are not drawn, and a block expires 600 bars after it was confirmed or flipped. Heavily overlapping blocks of the same role are merged.
What it draws
- Block rectangles: each spanning the origin candle's high and low.
- Fresh blocks: filled, and extended 10 bars past the last completed bar.
- Mitigated blocks: outline only, ending 2 bars after the bar where price reached the halfway point.
- Role colors: teal for Bull OB, firebrick for Bear OB, and two orchid shades for the breaker roles.
- Block count: up to three bullish and three bearish roles at a time, picked by strength.
- Block details: kept in each rectangle's object name, not as text on the chart.
Reading the chart
A filled rectangle is still Fresh. Fresh does not mean untouched: price can visit a block several times and it stays Fresh until half of its height has been traded. Once that happens the fill drops to an outline and the rectangle stops, which shows where the block was used.
A breaker is a block that price has closed through and held beyond, so a former bullish block shown as Bear Breaker is now read from the other side. The limit of three per side counts bullish and bearish roles, not blocks above and below price.
To see a block's details, open the terminal object list. A name such as Bear OB Mitigated 63% S=0.41 T=2 gives the role, the state with its depth, the strength S and the number of separate visits T.
Inputs
Detection and scoring:
- Timeframe: build blocks from the chart timeframe or from another one.
- Displacement Body In ATR: minimum candle body in ATR units, 1.5 by default.
- Minimum Displacement Body Ratio: minimum share of the candle range taken by the body, 0.55 by default.
- Structure Break Lookback: bars checked for the optional structure-break bonus, 20 by default.
- Origin Candle Lookback: how many candles back the origin is searched for, 3 by default.
- Block Half-Life In Bars and Mitigation Depth Decay: how quickly strength fades with age and with depth traded.
Lifecycle and display:
- Minimum Block Strength: blocks below this score are not drawn.
- Maximum Blocks Per Side: how many bullish and bearish blocks are kept.
- Block Expiry Age: bars after confirmation or a flip before a block is dropped.
- Breaker Acceptance Bars and Breaker Acceptance Close Ratio: the window and share of closes needed to flip a block.
- Fill Fresh Blocks, Border Width and Border Style: how the rectangles look.
- Bullish Block, Bearish Block, Bullish Breaker and Bearish Breaker: one color per role.
Recommended use
Built for forex, gold (XAUUSD), indices and crypto. Intraday timeframes from M5 upward are the usual choice.
Common questions
Does every block need a break of structure? No. The break only raises the score, and a displacement candle on its own is enough to create a block.
Why did a block disappear? A block is removed when its strength falls below the minimum, when stronger blocks take its place, or when it passes the expiry age.
How much history does it read? Up to 1,200 completed bars of the chosen timeframe, and it draws nothing until at least 96 are available. Because that window slides forward, blocks near its oldest end can differ from what was drawn earlier.
About and support
Order block detection is the smart money layer of RelicusRoad Pro. It is published on its own here because block traders rarely want a full system attached. It runs standalone.
Questions and support are handled in the product comments and through the mql5.com messaging system.
