ICT Propulsion Block MTF for MT4
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Minh Truong Pham
Hello, my name is Pham and I am a programmer and trader! At here, I create amazing forex indicators and expert advisors for Metatrader.
I will try:
+ Provide best tools base on my 5 years experience as a trader and 10 years as a programmer. - Versão: 1.1
- Atualizado: 18 outubro 2024
- Ativações: 10
The ICT Propulsion Block indicator is meant to detect and highlight propulsion blocks, which are specific price structures introduced by the Inner Circle Trader (ICT).
Note: THIS IS MTF version. Single Timeframe version avaiable at here
Propulsion Blocks are essentially blocks located where prices interact with preceding order blocks. Traders often utilize them when analyzing price movements to identify potential turning points and market behavior or areas of interest in the market.
🔶 USAGE
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An order block is a significant area on a price chart where there was a notable accumulation or distribution of orders, often identified by a strong move in price followed by a consolidation or sideways movement. Traders use order blocks to identify potential support or resistance levels.
A Propulsion Block, on the other hand, is a concept taught by the Inner Circle Trader (ICT) and refers to a specific type of order block that interacts with the preceding order block. Traders often analyze propulsion blocks to identify potential turning points and areas of interest in the market.
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A mitigated order block refers to an order block that has been invalidated or nullified due to subsequent market movements or developments. It no longer holds the same significance or relevance in the current market context.
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Let's explore a bearish order block and propulsion block scenario commonly utilized by ICT traders in their trading strategies.
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🔶 SETTINGS
🔹 Order & Propulsion Blocks
- Swing Detection Length: Lookback period used to detect swing points for creating order blocks and/or propulsion blocks.
- Mitigation Price: Allows users to choose between the closing price or the candle's wick for mitigation.
- Highlight Propulsion Block Signals: Highlights the propulsion block and its sentiment for easier identification and analysis.
- Remove Unassociated Order Blocks: Eliminate order blocks that are not associated with any propulsion block.
- Remove Mitigated Blocks: Eliminates mitigated order blocks and propulsion blocks along with their associated order blocks, streamlining the visualization for clearer analysis.
- Most Recent Blocks: Activates processing of the specified number of most recent blocks according to the option. If not enabled, the script defaults to processing the last 125 occurrences.
🔹 Order & Propulsion Blocks Style
- Bullish Order & Propulsion Blocks: Toggles the visibility of bullish order and propulsion blocks, along with color customization options.
- Bearish Order & Propulsion Blocks: Toggles the visibility of bearish order and propulsion blocks, along with color customization options.
- Block Labels: Toggles the visibility of order and propulsion block labels, and label size customization option.
🔹 Notification
Frequently Asked Questions
Why nothing show on chart when i load inidicator?
https://www.youtube.com/watch?v=hW-KHHvUCWI
How i build signal scan system with this indicator?
