The Price Action, styled as the "Smart Money Concept" or "SMC," was introduced by Mr. David J. Crouch in 2000 and is one of the most modern technical styles in the financial world. In financial markets, Smart Money refers to capital controlled by major market players (central banks, funds, etc.), and these traders can accurately predict market trends and achieve the highest profits.
In the "Smart Money" style, various types of "order blocks" can be traded. This indicator uses a type of "order block" originating from "BoS" (Breakout of Structure). The most important feature of this indicator is the confirmation of two order blocks.
🟣Important For example, after the first "BoS" and the formation of the first Order Block, if a second "BoS" occurs before touching the price of the first Order Block and the formation of the second Order Block, a trading setup with 2 order blocks is formed, which confirms the dominant market trend.
For a better understanding of this subject, see the explanations in the following two images.
Bullish Setup Details:
Bearish Setup Details:
🔵How to Use
After adding the indicator to the chart, you should wait for the formation of the trading setup. You can observe different trading positions by changing the "Time Frame" and "Pivot Period." Generally, the higher the "Time Frame" and "Pivot Period," the more valid the formed setup is.
Bullish Setup Details on Chart:
Bearish Setup Details on Chart:
You can access the "Pivot Period" input through the settings.
Sir great job thanks !! what is the best time frame you think with this default settings and also could u add alert when the second ob happened
TFlab
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@INSPIRE_TRADES, Hello thank you very much It is difficult and maybe impossible to suggest the best time frame. Because the conditions of each market and each symbol are different at any time. Regarding the alert I must say that in the next updates, we will equip not only this indicator, but the rest of the indicators that generate signals with alarms.