INVITE-ONLY SCRIPT
FXC Order Block Finder
█ OVERVIEW
The FXC Order Bock Finder finds and draws institutional order blocks according to the Smart Money Concept. Order blocks are zones where institutions have most likely left some orders that need to be filled at a later point in time. In These order blocks or POIs can be used to either place limit orders or to look for instant entries as price comes to retest the zone. It works on all time frames but higher time frames tend to be more precise.
█ HOW DOES IT WORK?
The indicator waits for a break of structure (BOS) and then prints a zone if there's an engulfing pattern and an open imbalance. Basically it draws zones where a fake move followed by aggressive buying or selling happened and Imbalances were left open.
█ WHAT MAKES IT UNIQUE?
Apart from the fact that I haven’t found any indicator that is able to properly draw order blocks most indicators do re-paint which doesn’t make any sense in the case of the Smart Money Concept.
Furthermore does this indicator have settings that let’s you adjust how the order blocks are drawn. From wick to end of the imbalance or candle close to imbalance. Also you can set how many candles it takes into consideration for the imbalance in case the imbalance starts after the engulfing pattern has formed. And you can set how many candles have to checked to determine a BOS or an internal BOS by using fractal breaks.
█ HOW TO USE IT?
Either place sell limits at the lower end of the order block with SL slightly above the OB and buy limits at the upper end of the OB with SL slightly below the OB. Target a fixed Risk Reward Ratio or trade it to the next order block. By using multi time frame analysis you can determine the overall direction of the market and prevent low probability trades. Also worth mentioning is that order blocks that have been created during high volume sessions tend to result in way better trades than with order blocks that have been printed during the Asia session.
█ ADDITIONAL INFO
As soon as price retested an order block the order block is mitigated and therefore not valid anymore. Also order blocks that are too far back in time are less probable to deliver good trades. In general the win rate tends not to be too high using this method but more often than not there's a reaction as price taps into an order block and trades with high RRR are quite often. As always in trading, proper money management and risk management is key.
█ DISCLAIMER
This is not financial advice. The Indicator spots these zones according to the smart money concept . However there's absolutely no guarantee that a nice order blocks results in a good trade.
█ Examples
The FXC Order Bock Finder finds and draws institutional order blocks according to the Smart Money Concept. Order blocks are zones where institutions have most likely left some orders that need to be filled at a later point in time. In These order blocks or POIs can be used to either place limit orders or to look for instant entries as price comes to retest the zone. It works on all time frames but higher time frames tend to be more precise.
█ HOW DOES IT WORK?
The indicator waits for a break of structure (BOS) and then prints a zone if there's an engulfing pattern and an open imbalance. Basically it draws zones where a fake move followed by aggressive buying or selling happened and Imbalances were left open.
█ WHAT MAKES IT UNIQUE?
Apart from the fact that I haven’t found any indicator that is able to properly draw order blocks most indicators do re-paint which doesn’t make any sense in the case of the Smart Money Concept.
Furthermore does this indicator have settings that let’s you adjust how the order blocks are drawn. From wick to end of the imbalance or candle close to imbalance. Also you can set how many candles it takes into consideration for the imbalance in case the imbalance starts after the engulfing pattern has formed. And you can set how many candles have to checked to determine a BOS or an internal BOS by using fractal breaks.
█ HOW TO USE IT?
Either place sell limits at the lower end of the order block with SL slightly above the OB and buy limits at the upper end of the OB with SL slightly below the OB. Target a fixed Risk Reward Ratio or trade it to the next order block. By using multi time frame analysis you can determine the overall direction of the market and prevent low probability trades. Also worth mentioning is that order blocks that have been created during high volume sessions tend to result in way better trades than with order blocks that have been printed during the Asia session.
█ ADDITIONAL INFO
As soon as price retested an order block the order block is mitigated and therefore not valid anymore. Also order blocks that are too far back in time are less probable to deliver good trades. In general the win rate tends not to be too high using this method but more often than not there's a reaction as price taps into an order block and trades with high RRR are quite often. As always in trading, proper money management and risk management is key.
█ DISCLAIMER
This is not financial advice. The Indicator spots these zones according to the smart money concept . However there's absolutely no guarantee that a nice order blocks results in a good trade.
█ Examples
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact timhutter for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″To get access to the indicator please go to https://fxcrusher.com/orderblock-indicator to start your subscription and then fill out the form with your tradingview username. Access will be granted within 24h.
For questions contact me on Instagram.
Want to use this script on a chart?
Warning: please read before requesting access.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.