ZigZag Orderblocks Mt5
- インディケータ
- Pieter Gerhardus Van Zyl
- バージョン: 1.0
- アクティベーション: 5
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ZigZag OrderBlocks MT5 is a hybrid market-structure indicator that combines ZigZag swing detection with automatic Order Block (OB) mapping. It identifies key turning points using ZigZag logic (Depth, Deviation, Backstep) and then locates the last opposing candle before each swing to define institutional supply and demand zones.
When price forms a peak, the indicator searches backward for the nearest bullish candle and marks it as a bearish order block (potential resistance). When price forms a bottom, it finds the nearest bearish candle and marks it as a bullish order block (potential support). These zones are drawn as rectangles and extend forward until price “mitigates” them (returns and touches the zone).
How to use:
First, understand structure. The ZigZag points show market swings—higher highs and lower lows. These swings define trend direction. Order blocks attached to these swings highlight where smart money likely entered.
For trend trading, focus on direction:
- In an uptrend, wait for price to return to a bullish OB and look for buy confirmations.
- In a downtrend, wait for price to revisit a bearish OB for sell setups.
For reversals, watch fresh OBs forming at extreme ZigZag points. Strong reactions from these zones often signal turning points.
Key settings:
- Depth/Deviation/Backstep control sensitivity (higher = fewer, stronger zones).
- OB Lookback defines how far back the candle search goes.
- Min Bars Before Mitigation avoids premature invalidation.
- Full Candle vs Body lets you choose precise or broader zones.
Best used with price action confirmation (engulfing candles, rejection wicks) for higher probability entries.
