OPEN-SOURCE SCRIPT
voss 1 of 1 Price Action Volumetric Order Blocks [voss]
Indicator Name: Order Block Finder
Description:
This TradingView indicator automatically detects and highlights Order Blocks — key zones where large institutions or professional traders have placed significant buy or sell orders, often resulting in sharp price moves. Order Blocks represent areas of strong demand (bullish order blocks) or supply (bearish order blocks) that price tends to revisit or react to.
Features:
Bullish Order Blocks:
The indicator identifies and marks areas where price experiences a strong reversal or acceleration upward after an institutional buying spree. These are typically seen after a significant price drop followed by a consolidation before a sharp upward movement. The Bullish Order Block is marked with a green box or green shaded area.
Bearish Order Blocks:
These are zones of institutional selling pressure where price reverses or accelerates downward after a buying climax. The Bearish Order Block is marked with a red box or red shaded area.
Zone Validity:
The indicator will adjust the order block zones based on recent price action, providing dynamic updates to reflect the validity and relevance of the zone. Older order blocks that no longer hold relevance are faded or removed.
Trend Confirmation:
The Order Block Finder will also highlight trend direction using a simple moving average (SMA) or other trend indicators, giving users an idea of whether to focus on bullish or bearish order blocks.
Alerts:
Set custom alerts for when price approaches an identified order block or when a breakout from an order block occurs. This feature helps traders stay informed in real-time about critical market zones.
Color-Coded Zones:
The indicator will color code the order block zones (green for bullish, red for bearish) and provide adjustable opacity so traders can customize the visibility according to their preference.
Automatic Drawing:
The indicator automatically draws order block zones on the chart, saving traders the time and effort of manually plotting them. The zones are based on the concept of "last up candle before a down move" for bearish order blocks and "last down candle before an up move" for bullish order blocks.
Historical & Real-Time Data:
The Order Block Finder works with both real-time and historical data, allowing traders to identify potential entry or exit points not only for the current market conditions but also to review past market reactions.
How to Use:
Look for price action that approaches the identified order block zones.
If price retraces into a bullish order block in an uptrend, it could be an ideal buying opportunity.
Conversely, if price retraces into a bearish order block in a downtrend, it could signal a shorting opportunity.
Combine with other indicators (e.g., RSI, MACD, or volume analysis) to confirm signals.
Best for:
Swing traders, day traders, and institutional traders who rely on supply and demand-based strategies.
Traders looking to identify key zones for potential reversals or continuation patterns based on institutional order flow.
Description:
This TradingView indicator automatically detects and highlights Order Blocks — key zones where large institutions or professional traders have placed significant buy or sell orders, often resulting in sharp price moves. Order Blocks represent areas of strong demand (bullish order blocks) or supply (bearish order blocks) that price tends to revisit or react to.
Features:
Bullish Order Blocks:
The indicator identifies and marks areas where price experiences a strong reversal or acceleration upward after an institutional buying spree. These are typically seen after a significant price drop followed by a consolidation before a sharp upward movement. The Bullish Order Block is marked with a green box or green shaded area.
Bearish Order Blocks:
These are zones of institutional selling pressure where price reverses or accelerates downward after a buying climax. The Bearish Order Block is marked with a red box or red shaded area.
Zone Validity:
The indicator will adjust the order block zones based on recent price action, providing dynamic updates to reflect the validity and relevance of the zone. Older order blocks that no longer hold relevance are faded or removed.
Trend Confirmation:
The Order Block Finder will also highlight trend direction using a simple moving average (SMA) or other trend indicators, giving users an idea of whether to focus on bullish or bearish order blocks.
Alerts:
Set custom alerts for when price approaches an identified order block or when a breakout from an order block occurs. This feature helps traders stay informed in real-time about critical market zones.
Color-Coded Zones:
The indicator will color code the order block zones (green for bullish, red for bearish) and provide adjustable opacity so traders can customize the visibility according to their preference.
Automatic Drawing:
The indicator automatically draws order block zones on the chart, saving traders the time and effort of manually plotting them. The zones are based on the concept of "last up candle before a down move" for bearish order blocks and "last down candle before an up move" for bullish order blocks.
Historical & Real-Time Data:
The Order Block Finder works with both real-time and historical data, allowing traders to identify potential entry or exit points not only for the current market conditions but also to review past market reactions.
How to Use:
Look for price action that approaches the identified order block zones.
If price retraces into a bullish order block in an uptrend, it could be an ideal buying opportunity.
Conversely, if price retraces into a bearish order block in a downtrend, it could signal a shorting opportunity.
Combine with other indicators (e.g., RSI, MACD, or volume analysis) to confirm signals.
Best for:
Swing traders, day traders, and institutional traders who rely on supply and demand-based strategies.
Traders looking to identify key zones for potential reversals or continuation patterns based on institutional order flow.
Skrypt open-source
W prawdziwym duchu TradingView autor tego skryptu opublikował go jako open source, aby inwestorzy mogli go zrozumieć i zweryfikować. Pozdrowienia dla autora! Możesz go używać bezpłatnie, ale ponowne użycie tego kodu w publikacji podlega Zasadom Regulaminu. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
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