Order Block Finder (Experimental)

How it works

The indicator identifies order blocks by analyzing sequential candle patterns, looking for specific price ranges where institutional trading activity might have occurred. For bullish order blocks, it examines the last down candle before a sequence of up candles, marking the relevant price range from open to low.

For bearish order blocks, it does the opposite, marking the price range from open to high. Traders can customize the number of sequential candles and set a percentage threshold to filter significant price movements. The indicator also calculates and marks the equilibrium point of each order block

Why it may be useful

Order blocks are crucial for understanding potential institutional trading zones where significant price movements might originate. By highlighting these areas, traders can identify key support and resistance levels that might influence future price action.

These zones represent areas where large market participants have previously entered or exited positions, providing valuable insights into potential trend reversals or continuations. Understanding order blocks can help traders make more informed decisions about entry and exit points

When to explore it

This indicator works best in markets with clear institutional participation, such as major forex pairs, stock indices, and liquid commodities. It is most effective on higher timeframes where price movements are more significant and institutional footprints are more visible.

Traders should use this indicator in conjunction with other technical analysis tools to confirm potential trading opportunities. It is particularly useful for swing traders and position traders who are interested in understanding longer-term market dynamics

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