CANX Supply and Demand - Order Block - Candle Identification

How it works

The indicator identifies the last up or down candle before a fractal break, marking these points as potential origin zones of significant price movement. It tracks and highlights these critical candle points which represent areas where price generated enough momentum to break recent market structure.

By visually mapping these order blocks and supply/demand zones, traders can observe how price interacts with these key areas. The tool allows customization of fractal periods and candle break types, enabling traders to adapt the indicator to different market conditions and personal trading strategies.

Why it may be useful

Understanding supply and demand zones is crucial for identifying potential price reversal or continuation points in trading. This indicator provides a systematic approach to visualizing these critical areas, helping traders make more informed decisions about market entry and exit points.

By highlighting zones that have not yet been tested, traders can identify high-probability areas for potential price bounces. The more times a zone is tested, the more likely it is to eventually break, giving traders valuable insights into market dynamics and potential future price movements.

When to explore it

This indicator works best on 5-minute and 15-minute timeframes, where market noise is reduced and price movements are more structured. Traders should look for fresh, untested zones as they typically offer higher probability trading opportunities.

The tool is most effective when combined with other technical analysis methods and when traders adjust the fractal period to match their specific trading style and market conditions. Lower period numbers generate more market noise, while higher numbers create fewer but potentially stronger zone identification signals.

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