Order Block Finder MT5
- Indicators
- Version: 1.0
- Activations: 10
Order Block Finder
Sends Alerts –
- On MT5
- To Your Phone
- To Your Email
- Does not repaint.
- Works on any Forex pair, any timeframe.
- 10 Activations allowed so you are free from limitations
Spreads from 0.1pip RAW/ECN Accounts, click here.
Check out my Waka Esque EA signal here: >> High Risk Settings or Medium Risk Settings.
What Is An Order Block?
An Order Block (or Banker Candle, or Institutional Candle) is an opportunity to get very high risk to reward trades (often 5:1 or more) but you have to know how to trade them.
>>>> Please see my video below on how to maximise the winners.
An Order Block is formed when the banks either buy or sell a large amount of currency. eg for a buy order block, they will sell and it creates a bearish candle. After this, the banks buy aggressively creating a large, fast movement in the opposite direction. This leaves their sell trades in negative equity. So, they will sell again at the higher price to bring it back to the original sell price.
After this, the pice will usually go back up, and probably higher than the one just created. There are a lot of vidoes about Order Blocks / Banker Candles / Institutional Candles so watch them if you are not sure.
Will It Work For You?
Back testing this indicator gave roughly a 70% win rate BUT you should do your own baktesting on the pairs, timeframes and time of day when you trade to see if it would work for you.
SETTINGS
ReversalSpeed
This is how fast the price moves away from the Order Block.
A higher value gives fewer, more accurate trades; a lower value gives more trades which are less accurate.
TimeOfTheDay(from hour)
The hour you want the Indicator to start each day.
TimeOfTheDay(from mins)
The number of minutes past the hour you want the Indicator to start each day.
TimeOfTheDay(to hour)
The hour you want the Indicator to stop each day.
TimeOfTheDay(to min)
The number of minutes past the hour you want the Indicator to stop each day.
Send_Email
The indicator will send an alert to your email (if you have set this up in MT5).
Audible_Alerts
The indicator will give a sound alert and pop-up message in MT5.
Push_Notifications
The indicator will send an alert to your phone (if you have set this up in MT5).
