Refined Order Block Indicator MT5
- Indicatori
- Mehnoosh Karimi
- Versione: 3.1
- Attivazioni: 10
Refined Order Block Indicator for MT5
Designed around ICT and Smart Money strategies, the Refined Order Block (OBR) indicator is an essential tool for traders on the MetaTrader 5 (MT5) platform. It identifies and highlights key price levels by marking bullish order blocks in green and bearish order blocks in brown.
These levels represent potential price reversal zones, often influenced by large institutional and bank orders. When the price reaches these critical areas, it may experience significant and rapid movements, providing traders with valuable insights to refine their trading strategies.
Order Block Refined Indicator Overview
| Feature | Description |
| Category | ICT - Smart Money - Supply and Demand |
| Platform | MetaTrader 5 |
| Skill Level | Advanced |
| Indicator Type | Leading - Reversal - Strength |
| Time Frame | Multi Time Frame |
| Trading Style | Scalping - Day Trading - Intraday Trading |
| Trading Markets | Forex - Cryptocurrencies - Indices |
Bullish Order Block (OBR) on MT5
On the daily chart of XAUUSD (Gold), the Refined Order Block indicator highlights bullish order blocks with green rectangles, marking essential areas for traders. When the price approaches these zones, it often moves upward, reflecting large institutional buy orders.
This feature helps traders identify optimal entry points, improving the effectiveness of their decision-making.
Bearish Order Block on MT5
On the 1-hour chart of USD/CHF, the Refined Order Block indicator detects bearish order blocks, displayed in brown. These marked zones represent areas where significant institutional sell orders are placed. When the price reaches these levels, it generally reacts sharply, often triggering quick price reversals.
These critical zones provide traders with key decision-making opportunities in the market.
Refined Order Block Indicator Settings (OBR)
- Display Settings: Customize display preferences.
- Chart and Object Color Theme: Select Light, Dark, or Auto themes.
General Settings:
- Number of Candles to Consider: Define how many past candles to include in calculations.
- Trend Calculation Type (ZigZag/Candle): Choose between ZigZag or Candle-based trend detection.
- Show Arrows for First Cycle: Enable or disable arrows for the first cycle.
- Display Order Blocks: Turn the display of order blocks on or off.
- Order Block Mode: Select the mode for order blocks (Normal, Aggressive, or Invalid due to new order block).
- Invalid Order Block by Close Beyond: Extend the zone until a new order block is established.
Conclusion
The Refined Order Block (OBR) indicator is a highly effective tool for traders using ICT and Smart Money strategies. It accurately identifies significant order blocks, with bullish zones in green and bearish zones in brown. These highlighted areas provide crucial insights into market behavior, showing where large institutional and bank orders are positioned.
By recognizing these critical points, traders can make more informed and precise decisions, enhancing their trading strategies.

