PZ Order Block MT5
A personal implementation of Order Blocks, a simple yet effective position trading strategy. The trader should enter the market or look for trades in the direction of the last order block, if the price range has not been breached in the opposite direction of the breakout. Open blocks are not drawn for clarity.
- A bullish open block is the first bullish bar after a fresh market low
- A bearish open block is the first bearish bar after a fresh market high
- A signal appears when an open block is broken, becoming an order block
- When an order block is broken to the opposite side, it becomes a reversal block
- The indicator implements alerts of all kinds
- It does not repaint or backpaint
- Period: Amount of bars needed to create a fresh high or low. A smaller value result in more signals.
- Min ATR Filter: Minimum body size of the order block bar, expressed as multiplier of ATR.
- Max ATR Filter: Maximum body size of the order block bar, expressed as multiplier of ATR.
- Colors: Set colors and sizes for lines and arrows.
- Alerts: Enable display/email/push/sound alerts.
Support and questions
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