ICT Immediate Rebalance Toolkit [LuxAlgo]The ICT Immediate Rebalance Toolkit is a comprehensive suite of tools crafted to aid traders in pinpointing crucial trading zones and patterns within the market.
The ICT Immediate Rebalance, although frequently overlooked, emerges as one of ICT's most influential concepts, particularly when considered within a specific context. The toolkit integrates commonly used price action tools to be utilized in conjunction with the Immediate Rebalance patterns, enriching the capacity to discern context for improved trading decisions.
The ICT Immediate Rebalance Toolkit encompasses the following Price Action components:
ICT Immediate Rebalance
Buyside/Sellside Liquidity
Order Blocks & Breaker Blocks
Liquidity Voids
ICT Macros
🔶 USAGE
🔹 ICT Immediate Rebalance
What is an Immediate Rebalance?
Immediate rebalances, a concept taught by ICT, hold significant importance in decision-making. To comprehend the concept of immediate rebalance, it's essential to grasp the notion of the fair value gap. A fair value gap arises from market inefficiencies or imbalances, whereas an immediate rebalance leaves no gap, no inefficiencies, or no imbalances that the price would need to return to.
Rule of Thumb
After an immediate rebalance, the expectation is for two extension candles to follow; otherwise, the immediate rebalance is considered failed. It's important to highlight that both failed and successful immediate rebalances, when considered within a context, are significant signatures in trading.
Immediate rebalances can occur anywhere and in any timeframe.
🔹 Buyside/Sellside Liquidity
In the context of Inner Circle Trader's teachings, liquidity primarily refers to the presence of stop losses or pending orders, that indicate concentrations of buy or sell orders at specific price levels. Institutional traders, like banks and large financial entities, frequently aim for these liquidity levels or pools to accumulate or distribute their positions.
Buyside liquidity denotes a chart level where short sellers typically position their stops, while Sellside liquidity indicates a level where long-biased traders usually place their stops. These zones often serve as support or resistance levels, presenting potential trading opportunities.
The presentation applied here is the multi-timeframe version of our previously published Buyside-Sellside-Liquidity script.
🔹 Order Blocks & Breaker Blocks
Order Blocks and Breaker Blocks hold significant importance in technical analysis and play a crucial role in shaping market behavior.
Order blocks are fundamental elements of price action analysis used by traders to identify key levels in the market where significant buying or selling activity has occurred. These blocks represent areas on a price chart where institutional traders, banks, or large market participants have placed substantial buy or sell orders, leading to a temporary imbalance in supply and demand.
Breaker blocks, also known as liquidity clusters or pools, complement order blocks by identifying zones where liquidity is concentrated on the price chart. These areas, formed from mitigated order blocks, often act as significant barriers to price movement, potentially leading to price stalls or reversals in the future.
🔹 Liquidity Voids
Liquidity voids are sudden price changes when the price jumps from one level to another. Liquidity voids will appear as a single or a group of candles that are all positioned in the same direction. These candles typically have large real bodies and very short wicks, suggesting very little disagreement between buyers and sellers.
Here is our previously released Liquidity-Voids script.
🔹 ICT Macros
In the context of ICT's teachings, a macro is a small program or set of instructions that unfolds within an algorithm, which influences price movements in the market. These macros operate at specific times and can be related to price runs from one level to another or certain market behaviors during specific time intervals. They help traders anticipate market movements and potential setups during specific time intervals.
Here is our previously released ICT-Macros script.
🔶 SETTINGS
🔹 Immediate Rebalances
Immediate Rebalances: toggles the visibility of the detected immediate rebalance patterns.
Bullish, and Bearish Immediate Rebalances: color customization options.
Wicks 75%, %50, and %25: color customization options of the wick price levels for the detected immediate rebalance.
Ignore Price Gaps: ignores price gaps during calculation.
Confirmation (Bars): specifies the number of bars required to confirm the validation of the detected immediate rebalance.
Immediate Rebalance Icon: allows customization of the size of the icon used to represent the immediate rebalance.
🔹 Buyside/Sellside Liquidity
Buyside/Sellside Liquidity: toggles the visibility of the buy-side/sell-side liquidity levels.
Timeframe: this option is to identify liquidity levels from higher timeframes. If a timeframe lower than the chart's timeframe is selected, calculations will be based on the chart's timeframe.
Detection Length: lookback period used for the detection.
Margin: sets margin/sensitivity for the liquidity levels.
Buyside/Sellside Liquidity Color: color customization option for buy-side/sell-side liquidity levels.
Visible Liquidity Levels: allows customization of the visible buy-side/sell-side liquidity levels.
🔹 Order Blocks & Breaker Blocks
Order Blocks: toggles the visibility of the order blocks.
Breaker Blocks: toggles the visibility of the breaker blocks.
Swing Detection Length: lookback period used for the detection of the swing points used to create order blocks & breaker blocks.
Mitigation Price: allows users to select between the closing price or the wick of the candle.
Use Candle Body in Detection: allows users to use candle bodies as order block areas instead of the full candle range.
Remove Mitigated Order Blocks & Breaker Blocks: toggles the visibility of the mitigated order blocks & breaker blocks.
Order Blocks: Bullish, Bearish Color: color customization option for order blocks.
Breaker Blocks: Bullish, Bearish Color: color customization option for breaker blocks.
Visible Order & Breaker Blocks: allows customization of the visible order & breaker blocks.
Show Order Blocks & Breaker Blocks Labels: toggles the visibility of the order blocks & breaker blocks labels.
🔹 Liquidity Voids
Liquidity Voids: toggles the visibility of the liquidity voids.
Liquidity Voids Width Filter: filtering threshold while detecting liquidity voids.
Ignore Price Gaps: ignores price gaps during calculation.
Remove Mitigated Liquidity Voids: remove mitigated liquidity voids.
Bullish, Bearish, and Mitigated Liquidity Voids: color customization option..
Liquidity Void Labels: toggles the visibility of the liquidity voids labels.
🔹 ICT Macros
London and New York (AM, Launch, and PM): toggles the visibility of specific macros, allowing users to customize macro colors.
Macro Top/Bottom Lines, Extend: toggles the visibility of the macro's pivot high/low lines and allows users to extend the pivot lines.
Macro Mean Line: toggles the visibility of the macro's mean (average) line.
Macro Labels: toggles the visibility of the macro labels, allowing customization of the label size.
🔶 RELATED SCRIPTS
ICT-Killzones-Toolkit
Smart-Money-Concepts
Thanks to our community for recommending this script. For more conceptual scripts and related content, we welcome you to explore by visiting >>> LuxAlgo-Scripts .
Orderblocks
Order Block Drawing [TradingFinder]🔵 Introduction
Perhaps one of the most challenging tasks for Pine script developers (especially beginners) is properly drawing order blocks. While utilizing the latest technical analysis methods for "Price Action," beginners heavily rely on accurately plotting "Supply" and "Demand" zones, following concepts like "Smart Money Concept" and "ICT".
However, drawing "Order Blocks" may pose a challenge for developers. Therefore, to minimize bugs, increase accuracy, and speed up the process of coding order blocks, we have released the "Order Block Drawing" library.
Below, you can read more details about how to use this library.
Important :
This library has direct and indirect outputs. The indirect output includes the ranges of order blocks plotted on the chart. However, the direct output is a "Boolean" value that becomes "true" only when the price touches an order block, colloquially termed as "Mitigate." You can use this output for setting up alerts.
🔵 How to Use
First, you can add the library to your code as shown in the example below.
import TFlab/OrderBlockDrawing_TradingFinder/1
🟣Parameters
OBDrawing(OBType, TriggerCondition, DistalPrice, ProximalPrice, Index, OBValidDis, Show, ColorZone) =>
Parameters:
• OBType (string)
• TriggerCondition (bool)
• DistalPrice (float)
• ProximalPrice (float)
• Index (int)
• OBValidDis (int)
• Show (bool)
• ColorZone (color)
OBType : All order blocks are summarized into two types: "Supply" and "Demand." You should input your order block type in this parameter. Enter "Demand" for drawing demand zones and "Supply" for drawing supply zones.
TriggerCondition : Input the condition under which you want the order block to be drawn in this parameter.
DistalPrice : Generally, if each zone is formed by two lines, the farthest line from the price is termed "Distal." This input receives the price of the "Distal" line.
ProximalPrice : Generally, if each zone is formed by two lines, the nearest line to the price is termed "Proximal" line.
Index : This input receives the value of the "bar_index" at the beginning of the order block. You should store the "bar_index" value at the occurrence of the condition for the order block to be drawn and input it here.
OBValidDis : Order blocks continue to be drawn until a new order block is drawn or the order block is "Mitigate." You can specify how many candles after their initiation order blocks should continue. If you want no limitation, enter the number 4998.
Show : You may need to manage whether to display or hide order blocks. When this input is "On", order blocks are displayed, and when it's "Off", order blocks are not displayed.
ColorZone : You can input your preferred color for drawing order blocks.
🔵 Function Outputs
This function has only one output. This output is of type "Boolean" and becomes "true" only when the price touches an order block. Each order block can be touched only once and then loses its validity. You can use this output for alerts.
= Drawing.OBDrawing('Demand', Condition, Distal, Proximal, Index, 4998, true, Color)
MTF OB Supply Demand ZonesHello everyone,
This exceptional indicator provides you with visual representations of bullish and bearish order blocks or supply and demand zones across multiple timeframes. In simple terms, bullish order blocks are represented by a small red candle followed by a large red candle, while bearish order blocks are depicted as a small green candle followed by a large red candle. Supply and demand zones are drawn by using order blocks.
Features:
Display order blocks from up to three different timeframes.
Customize the maximum number of boxes shown and the colors of the zones.
Choose from three different modes: OB (Order Block), Extended OB, and Supply/Demand.
Mode Descriptions:
OB: Includes the body of the candle.
Extended OB: Encompasses the body and wick of the candle.
Supply/Demand: Covers the body, wick, and half the body of the large candle.
Usage:
Ensure that charts 2 and 3 are set to a higher timeframe. For modes 2 and 3, it’s recommended to reduce the maximum number of boxes shown. The zones or boxes are transparent, allowing for overlap. This feature aids in identifying reversal zones or confirmed zones. The more intense the color, the stronger the confirmation. If a green zone overlaps a red zone (or vice versa), it signifies a reversal zone.
Thank you for checking out this indicator!
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Additional Information:
Order blocks refer to specific price areas where large market participants, such as institutional traders, have previously placed significant buy or sell orders. These clusters of orders can impact price movement, liquidity, and market sentiment.
Order blocks are a strategic approach to identifying key levels of support and resistance based on the behavior of institutional traders. These key levels are then utilized as entry or exit points for trades.
An order block is an area where there has been a large concentration of limit orders awaiting execution. These blocks are identified on a chart by observing previous price action and pinpointing areas where the price experienced significant movement or abrupt changes in direction.
Order blocks are used in the following popular trading philosophies:
Smart Money Concepts (SMC)
Inner Circle Trading (ICT)
Price Action
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Credits to: @AGFXTRADING
RSI Order Blocks [UAlgo]The "RSI Order Blocks " identifies and visualizes potential order blocks based on the Relative Strength Index (RSI) indicator. These zones may indicating potential support or resistance levels.
🔶 Key Features :
RSI-based Order Block Identification: The script utilizes the RSI indicator to identify potential order blocks. It detects pivot highs and lows in the RSI, which are indicative of potential reversal points, and marks these areas as potential order blocks.
Order Block Visualization: Identified order blocks are visually represented on the chart, making it easy for traders to recognize and interpret these significant price zones. Both bullish and bearish order blocks are differentiated by color, enhancing clarity and ease of analysis. Additionally, within each order block, the RSI value of that block is also shown.
RSI Overbought/Oversold Filter: Optionally, users can apply a filter based on RSI levels to refine the detection of order blocks. This filter prevents the creation of order blocks when the RSI is within specified overbought or oversold conditions (default between 30 and 70), helping traders focus on areas of potentially significant price action.
An Example with the OB/OS Filter Feature Turned Off:
An Example with the OB/OS Filter Feature Turned On:
Mitigation of Broken Order Blocks: Provides flexibility in selecting the mitigation method (based on close or wick) for determining order block breaches.
Customizable Parameters: The script offers a range of customizable parameters to tailor the detection and visualization of order blocks to suit individual trading preferences. Users can adjust parameters such as RSI Length, Order Block Detection Sensitivity, Mitigation Method, and order block style to fine-tune the analysis according to their trading strategy.
🔶 Disclaimer :
Not Financial Advice: This indicator is intended for educational and informational purposes only. It does not constitute financial advice or recommendations to buy, sell, or hold any financial instruments.
Use at Own Risk: Trading involves substantial risk of loss and is not suitable for all investors. Users of this indicator should exercise caution and conduct their own research and analysis before making any trading decisions.
Performance Not Guaranteed: Past performance is not indicative of future results. While the indicator aims to assist traders in analyzing market trends, there is no guarantee of accuracy or success in trading operations.
Smart Money Setup 03 [TradingFinder] Minor OB & Trend Proof🔵 Introduction
The "Smart Money Concept" transcends mere technical trading strategies; it embodies a comprehensive philosophy elucidating market dynamics. Central to this concept is the acknowledgment that influential market participants manipulate price actions, presenting challenges for retail traders.
As a "retail trader", aligning your strategy with the behavior of "Smart Money," primarily market makers, is paramount. Understanding their trading patterns, which revolve around supply, demand, and market structure, forms the cornerstone of your approach. Consequently, decisions to enter trades should be informed by these considerations.
🟣 Important Note
In this setup, pattern formation revolves around the robustness of the "Stop Hunt" targeting retail traders.
When this stop hunt occurs, if the price tests below the minor pivot or above the minor pivot, a "Minor Order Block" is formed.
Similarly, if the price tests below the major pivot or above the major pivot, a "Major Order Block" is formed.
Since the price hasn't successfully broken the major pivots before breaking the Top or Bottom, it can be inferred that the minor pivots formed within a leg of price movement exhibit a "Range" structure.
For a deeper comprehension of this setup, refer to the accompanying visual aids below.
Bullish Setup Details :
Bearish Setup Details :
🔵 How to Use
Upon integrating the indicator into your chart, exercise patience as you await the evolution of the trading setup.
Experiment with different trading positions by adjusting both the "Time Frame" and "Pivot Period". Typically, setups materializing over longer "Time Frames" and "Pivot Periods" carry heightened validity.
Bullish Setup Details on Chart :
Bearish Setup Details on Chart :
Within the settings, you possess the flexibility to modify the "Pivot Period" input to tailor the indicator to your preferences.
Dynamic Order Blocks [LuxAlgo]The Dynamic Order Blocks indicator displays the most recent unmitigated bullish and bearish order blocks on the chart, providing dynamic support/resistance areas.
When price sweeps an order block, this is highlighted by the script indicating a potential reversal.
The average between the displayed order blocks is also displayed.
🔶 USAGE
Order blocks are a popular method of price action analysis, representing price areas where more significant market participants accumulate their orders.
Displaying order blocks dynamically allows obtaining relevant areas of support/resistance. Users can obtain longer-term order blocks using a higher "Swing Lookback" setting.
Users can also use mitigation events to assess the current trend direction, with price mitigating a bearish order block (breaking above the upper extremity) indicating an uptrend, and price mitigating a bullish order block (breaking below the lower extremity) indicating a downtrend.
🔹 Average Level
An average level obtained from the displayed bullish and bearish order blocks is included in the indicator and offers an additional polyvalent dynamic support/resistance level.
The change of direction of the average line can also be indicative of the current trend direction.
🔹 Dynamic Sweeps
Price sweeping the mitigation level of an order block is highlighted on the chart using bordered rectangles. These highlight a breakout failure and can be indicative of a potential reversal.
🔶 SETTINGS
Swing Lookback: Period of the swing detection used to construct order blocks. Higher values will return longer-term order blocks.
Use Candle Body: Use the candle body as the order block area instead of the candle full range.
Smart Money Setup 02 [TradingFinder] Mitigated Major OB Proof🔵 Introduction
"Smart money" is money invested by knowledgeable individuals at the right time, and this investment can yield the highest returns.
The concept we focus on in this indicator is whether the market is in an uptrend or downtrend. The market briefly takes a weak and reversal trend with "Minor BoS" without being able to break the major pivot.
In the next step, it returns to its main trend with a strong bullish move and continues its trend with a "Major BoS". The "order block" behind this rapid and powerful movement can be a valid order block for trading.
To better understand this setup, please refer to the explanations in the two images below.
Bullish Setup Details :
Bearish Setup Details :
🔵 How to Use
After adding the indicator to the chart, you should wait for trading opportunities to form. By changing the "Time Frame" and "Period Pivot", you can see different trading positions. In general, the lower the "Time Frame" and "Period Pivot", the higher the likelihood of forming trading opportunities.
Bullish Setup Details on Chart :
Bearish Setup Details on Chart :
You can access "Period Pivot" via settings as an input.
Order Blocks Indicator [TradingFinder] Lightning|CHOCH |OB | BOS🔵 Introduction
In "Price Action," an "Order Block" is essentially an area on the price chart where significant players such as institutional traders have executed their moves by placing noteworthy orders. These points often indicate areas where price either attempts to break through (resistance) or returns when it reaches there (support).
Therefore, when discussing the identification of order blocks, we typically refer to finding points where the price has stalled for a while and has accumulated strength before making a significant move in one direction.
Essentially, order blocks assist traders in understanding where large players with "smart money" have likely placed their bulk orders in the market. Traders use these order blocks as part of their overall analysis to identify probable levels where price may change direction.
This version of the order block indicator is designed for traders, adding many indicators to their charts. The minimal design helps minimize disruptions to user focus.
🔵 Identification of Order Blocks
To identify order blocks, first, a "Level Break" must occur. To identify a "Demand Zone," a "High Level Break" is required, and to identify a "Supply Zone," a "Low Level Break" is needed.
Demand Zone :
Supply Zone :
🔵 "Change of Character" or "Market Shift Structure"
"ChoCh" or "MSS" is the "Break Level" that is contrary to the previous trend. For example, if a "Bearish Level" is established in the market and consecutive "Low Levels" are being broken, the price turns upward, breaking a "High Level." This break is called "ChoCh" or "MSS."
🔵 "Break of Structure"
"Break of Structure," or "BoS" for short, is the "Break Level" in the direction of the current trend. For example, if a "Bullish Level" is established in the market, when the price breaks a "High Level," a "BoS" has occurred.
🔵 Features
🟣 Major Level
This feature helps you easily identify major levels. These levels form when the price breaks another major level.
🟣 Refine Order Block
The "Refinement" feature allows you to adjust the width of the order block based on your strategy. There are two modes, "Aggressive" and "Defensive," in Order Block Refine. The difference between "Aggressive" and "Defensive" lies in the width of the order block. For "Risk Averse" traders, the "Defensive" mode is suitable because it provides smaller stop losses and larger reward-to-risk ratios. For "Risk Taker" traders, the "Aggressive" mode is more suitable. These traders prefer to enter trades at higher prices and this mode, where the width of the order block is greater, is more suitable for this group of individuals.
🔵 How to Use
After adding the indicator to your chart, you will see a visual similar to the image below. Green order blocks are "Demand Zones" and red order blocks are "Supply Zones." The midpoint of the order blocks also indicates 50% of it.
Refine Order Block is defaulted to On and refines the order blocks. If you want the order blocks to remain original, you should set it to Off.
Refine is defaulted to "Defensive" mode. If you want it to be in "Aggressive" mode, you should change its mode through Refine Type.
Displaying "Major Levels" is turned off by default and to display them, you should set "Show High Level" and "Show Low Level" to "Yes." You can use these lines to identify liquidity or determine stop loss and take profit levels.
Breaker Blocks Screener | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Breaker Blocks Screener! This screener can provide information about the latest breaker blocks in up to 5 tickers. You can also customize the algorithm that finds the breaker blocks and the styling of the screener.
Features of the new Breaker Blocks Screener :
Find Latest Breaker Blocks Accross 5 Tickers
Latest Status, Restests & Volume
Customizable Algoritm / Styling
📌 HOW DOES IT WORK ?
Breaker blocks form when an order block fails, or "breaks". It is often associated with market going in the opposite direction of the broken order block, and they can be spotted by following order blocks and finding the point they get broken, ie. price goes below a bullish order block.
The volume of a breaker block is simply the total volume of the bar that the original order block is broken. Often the higher the breaking bar's volume, the stronger the breaker block is.
This screener then finds breaker blocks accross 5 different tickers, and shows the latest information about them.
Status ->
Far -> The current price is far away from the breaker block.
Approaching ⬆️/⬇️ -> The current price is approaching the breaker block, and the direction it's approaching from.
Inside -> The price is currently inside the breaker block.
Retests -> Retest means the price to invalidate the breaker block, but failed to do so. Here you can see how many times the price retested the breaker block.
For the volume, check the top of the "How Does It Work" section.
🚩UNIQUENESS
This screener can detect latest breaker blocks and give information about them for up to 5 tickers. This saves the user time by showing them all in a dashboard at the same time. The screener shows the number of the retests of the breaker block as an unique trait. Another unique ability of the screener is that it shows the latest valid breaker block's volume in the dashboard.
⚙️SETTINGS
1. Tickers
You can set up to 5 tickers for the screener to scan breaker blocks here. You can also enable / disable them and set their individual timeframes.
2. General Configuration
Zone Invalidations -> Select between Wick & Close price for Order & Breaker Block Invalidation.
Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.
ICT Concept [TradingFinder] Order Block | FVG | Liquidity Sweeps🔵 Introduction
The "ICT" style is one of the subsets of "Price Action" technical analysis. ICT is a method created by "Michael Huddleston", a professional forex trader and experienced mentor. The acronym ICT stands for "Inner Circle Trader".
The main objective of the ICT trading strategy is to combine "Price Action" and the concept of "Smart Money" to identify optimal entry points into trades. However, finding suitable entry points is not the only strength of this approach. With the ICT style, traders can better understand price behavior and adapt their trading approach to market structure accordingly.
Numerous concepts are discussed in this style, but the key practical concepts for trading in financial markets include "Order Block," "Liquidity," and "FVG".
🔵 How to Use
🟣Order Block
Order blocks are a specific type of "Supply and Demand" zones formed when a series of orders are placed in a block. These orders could be created by banks or other major players. Banks typically execute large orders in blocks during their trading sessions. If they were to enter the market directly with a small quantity, significant price movements would occur before the orders are fully executed, resulting in less profit. To avoid this, they divide their orders into smaller, manageable positions. Traders should look for "buy" opportunities in "demand order blocks" areas and "sell" opportunities in "supply order blocks".
🟣Liquidity
These levels are where traders aim to exit their trades. "Market Makers" or smart money usually collects or distributes their trading positions near levels where many retail traders have placed their "Stop Loss" orders. When the liquidity resulting from these losses is collected, the price often reverses direction.
A "Stop Hunt" is a move designed to neutralize liquidity generated by triggered stop losses. Banks often use significant news events to trigger stop hunts and acquire the liquidity released in the market. If, for example, they intend to execute heavy buy orders, they encourage others to sell through stop hunts.
As a result, if there is liquidity in the market before reaching the order block region, the credibility of that order block is higher. Conversely, if liquidity is near the order block, meaning the price reaches the order block before reaching the liquidity area, the credibility of that order block is lower.
🟣FVG (Fair Value Gap)
To identify the "Fair Value Gap" on the chart, one must analyze candle by candle. Focus on candles with large bodies, examining one candle and the one before it. The candles before and after this central candle should have long shadows, and their bodies should not overlap with the body of the central candle. The distance between the shadows of the first and third candles is called the FVG range.
These zone function in two ways :
•Supply and Demand zone: In this case, the price reacts to these zone, and its trend reverses.
•Liquidity zone: In this scenario, the price "fills" the zone and then reaches the order block.
Important Note: In most cases, FVG zone with very small width act as supply and demand zone, while zone with a significant width act as liquidity zone, absorbing the price.
🔵 Setting
🟣Order Block
Refine Order Block : When the option for refining order blocks is Off, the supply and demand zones encompass the entire length of the order block (from Low to High) in their standard state and remain unaltered. On the option for refining order blocks triggers the improvement of supply and demand zones using the error correction algorithm.
Refine Type : The enhancement of order blocks via the error correction algorithm can be executed through two methods: Defensive and Aggressive. In the Aggressive approach, the widest possible range is taken into account for order blocks.
Show High Levels : If major high levels are to be displayed, set the option for showing high level to Yes.
Show Low Levels : If major low levels are to be displayed, set the option for showing low level to Yes.
Show Last Support : If showing the last support is desired, set the option for showing last support to Yes.
Show Last Resistance : If showing the last resistance is desired, set the option for showing last resistance to Yes.
🟣 FVG
FVG Filter : When FVG filtering is activated, the number of FVG areas undergoes filtration based on the specified algorithm.
FVG Filter Types :
1. Very Aggressive : Apart from the initial condition, an additional condition is introduced. For an upward FVG, the maximum price of the last candle should exceed the maximum price of the middle candle. Similarly, for a downward FVG, the minimum price of the last candle should be lower than the minimum price of the middle candle. This mode eliminates a minimal number of FVGs.
2. Aggressive : In addition to the conditions of the Very Aggressive mode, this mode considers the size of the middle candle; it should not be small. Consequently, a larger number of FVGs are eliminated in this mode.
3. Defensive : Alongside the conditions of the Very Aggressive mode, this mode takes into account the size of the middle candle, which should be relatively large with the majority of it comprising the body. Furthermore, to identify upward FVGs, the second and third candles must be positive, whereas for downward FVGs, the second and third candles must be negative. This mode filters out a considerable number of FVGs, retaining only those of suitable quality.
4. Very Defensive : In addition to the conditions of the Defensive mode, the first and third candles should not be very small-bodied doji candles. This mode filters out the majority of FVGs, leaving only the highest quality ones. Show Demand FVG: Enables the display of demand-related boxes, which can be toggled between off and on. Show Supply FVG: Enables the display of supply-related boxes along the path, which can also be toggled between off and on.
🟣 Liquidity
Statics Liquidity Line Sensitivity : A value ranging from 0 to 0.4. Increasing this value reduces the sensitivity of the "Statics Liquidity Line Detection" function and increases the number of identified lines. The default value is 0.3.
Dynamics Liquidity Line Sensitivity : A value ranging from 0.4 to 1.95. Increasing this value enhances the sensitivity of the "Dynamics Liquidity Line Detection" function and decreases the number of identified lines. The default value is 1.
Statics Period Pivot : Default value is set to 8. By adjusting this value, you can specify the period for static liquidity line pivots.
Dynamics Period Pivot : Default value is set to 3. By adjusting this value, you can specify the period for dynamic liquidity line pivots.
You can activate or deactivate liquidity lines as necessary using the buttons labeled "Show Statics High Liquidity Line," "Show Statics Low Liquidity Line," "Show Dynamics High Liquidity Line," and "Show Dynamics Low Liquidity Line".
ICT Killzones Toolkit [LuxAlgo]The ICT Killzones Toolkit is a comprehensive set of tools designed to assist traders in identifying key trading zones and patterns within the market.
The ICT Killzones Toolkit includes the following Price Action components:
ICT Killzones with Pivot Highs/Lows
Order Blocks
Breaker Blocks
Fair Value Gaps
Market Structure Shifts
By combining these components, the ICT Killzones Toolkit provides traders with a comprehensive framework for analyzing the market and identifying setups of interest. Leveraging these tools effectively can enhance traders' decision-making process and improve killzones interpretability.
🔶 USAGE
In forex/futures trading, timing is crucial. ICT Killzone are specific periods when there's a higher chance of finding setups of interest. Mastering these time intervals can offer significant advantages to traders who know how to use them effectively.
The image above highlights a potential setup of interest when using the ICT Killzones Toolkit.
As another example for utilizing the ICT Killzones Toolkit, we can see in the image above when price retests setups generated from killzones such as Order Blocks or Fair Value Gaps, a potential strategy could be to look for entries on those & take profits as the next killzone appears.
🔹 Order Blocks
Order Blocks are sections on a price chart where notable buying or selling activity has occured, often signaling interest zones for institutional traders. This toolkit's Order Blocks component pinpoints these areas within the Killzone, which may act as potential support or resistance levels.
🔹 Breaker Blocks
Breaker Blocks are zones built from mitigated order blocks, and highlight zones on the chart where price has previously stalled or reversed. These areas may act as significant barriers to price movement in the future, and the Breaker Blocks component helps traders identify them for potential trading opportunities.
🔹 Fair Value Gaps
Fair value gaps are especially favored by price action traders and arise from market inefficiencies or imbalances, typically when buying and selling are unequal. These gaps often attract price movement before resuming in the same direction. the Fair Value Gaps component of the toolkit helps traders identify and analyze them.
🔹 Market Structure Shifts
Market Structure Shifts refer to significant changes in the overall structure of the market, such as shifts in trend direction, volatility, or trading activity. These shifts can provide valuable insights into market sentiment and potential trading opportunities, and the Market Structure Shifts component helps traders identify and interpret them.
Overall, the ICT Killzone Toolkit combines these components to provide traders with a comprehensive framework for analyzing the markets and identifying high-probability trading setups.
🔶 SETTINGS
🔹 ICT Killzones
Asian, London Open, New York, and London Close: toggles the visibility of specific Killzones, allowing users to customize time periods and Killzone colors.
Killzone Lines : Top/Bottom, Mean and Extend Top/Bottom: toggles the visibility of the Killzone's pivot high and low lines, mean (average) line, and allows users to extend the pivot lines.
Killzone Labels: Toggles the visibility of the Killzone labels.
Display Killzones within Timeframes Up To: Toggles the visibility of the Killzones up to selected Timeframes.
Open Price, Separator, Label, and Color: toggles the visibility of the open price of the Killzones or for the day, week, or month. If the day, week, or month is selected, a separator will be displayed to highlight the beginning of each respective period. Additionally, users can customize the color and toggle the label as needed.
🔹 Order Blocks & Breaker Blocks
Order Blocks | Breaker Blocks: toggles the visibility of the order blocks & breaker blocks.
Swing Detection Length: lookback period used for the detection of the swing points used to create order blocks & breaker blocks.
Mitigation Price: allows users to select between closing price or wick of the candle.
Use Candle Body in Detection: allows users to use candle bodies as order block areas instead of the full candle range.
Remove Mitigated Order Blocks & Breaker Blocks: toggles the visibility of the mitigated order blocks & breaker blocks.
Extend Order Blocks & Breaker Blocks: enables processing of the order blocks & breaker blocks beyond the boundaries of the killzones.
Display Order Blocks & Breaker Blocks: enables the display of the first, last, or all occurrences of the order blocks & breaker blocks.
Order Blocks : Bullish, Bearish Color: color customization option for order blocks.
Breaker Blocks : Bullish, Bearish Color: color customization option for breaker blocks.
Show Order Blocks & Breaker Blocks Text: toggles the visibility of the order blocks & breaker blocks labels.
🔹 Market Structure Shifts
Market Structure Shifts: toggles the visibility of the market structure shifts.
Detection Length: market structure shift detection length.
Display Market Structure Shifts: enables the display of the first, last, or all occurrences of the market structure shifts.
Market Structure Shifts : Bullish, Bearish Color: color custumization option for market structure shifts.
Show Market Structure Shifts Text: toggles the visibility of the market structure shifts labels.
🔹 Fair Value Gaps
Fair Value Gaps: toggles the visibility of the fair value gaps.
Fair Value Gap Width Filter: filtering threshold wile detecting fair value gaps.
Remove Mitigated Fair Value Gaps: removes mitigated fair value gaps.
Extend Fair Value Gaps: enables processing of the fair value gaps beyond the boundaries of the killzones.
Display Fair Value Gaps: enables the display of the first, last, or all occurrences of the fair value gaps.
Bullish Imbalance Color: color customization option.
Bearish Imbalance Color: color customization option.
Show Fair Value Gaps Text: toggles the visibility of the fair value gaps labels.
🔶 RELATED SCRIPTS
Smart-Money-Concepts
Order-Blocks-Breaker-Blocks
Thanks to our community for recommending this script. For more conceptual scripts and related content, we welcome you to explore by visiting >>> LuxAlgo-Scripts .
Order Blocks Screener | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Order Blocks Screener! This screener can provide information about the latest order blocks in up to 5 tickers. You can also customize the algorithm that finds the order blocks and the styling of the screener.
Features of the new Order Blocks Screener :
Find Latest Order Blocks Accross 5 Tickers
Latest Status, Restests, Bullish & Bearish Volume
Customizable Algoritm / Styling
📌 HOW DOES IT WORK ?
Order blocks occur when there is a high amount of market orders exist on a price range. It is possible to find order blocks using specific formations on the chart.
The high & low volume of order blocks should be taken into consideration while determining their strengths. The determination of the high & low volume of order blocks are similar to FVGs, in a bullish order block, the high volume is the last 2 bars' total volume, while the low volume is the oldest bar's volume. In a bearish order block scenerio, the low volume becomes the last 2 bars' total volume.
This screener then finds order blocks accross 5 different tickers, and shows the latest information about them.
Status ->
Far -> The current price is far away from the order block.
Approaching ⬆️/⬇️ -> The current price is approaching the order block, and the direction it's approaching from.
Inside -> The price is currently inside the order block.
Retests -> Retest means the price to invalidate the order block, but failed to do so. Here you can see how many times the price retested the order block.
For the bullish / bearish volume, check the "How Does It Work" section.
🚩UNIQUENESS
This screener can detect latest order blocks and give information about them for up to 5 tickers. This saves the user time by showing them all in a dashboard at the same time. The screener shows the number of the retests of the order block as an unique trait. Another unique ability of the screener is that it shows the latest valid order block's bullish and bearish volume in the dashboard.
⚙️SETTINGS
1. Tickers
You can set up to 5 tickers for the screener to scan order blocks here. You can also enable / disable them and set their individual timeframes.
2. General Configuration
Zone Invalidation -> Select between Wick & Close price for Order Block Invalidation.
Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.
FVG Detector LibraryLibrary "FVG Detector Library"
🔵 Introduction
To save time and improve accuracy in your scripts for identifying Fair Value Gaps (FVGs), you can utilize this library. Apart from detecting and plotting FVGs, one of the most significant advantages of this script is the ability to filter FVGs, which you'll learn more about below. Additionally, the plotting of each FVG continues until either a new FVG occurs or the current FVG is mitigated.
🔵 Definition
Fair Value Gap (FVG) refers to a situation where three consecutive candlesticks do not overlap. Based on this definition, the minimum conditions for detecting a fair gap in the ascending scenario are that the minimum price of the last candlestick should be greater than the maximum price of the third candlestick, and in the descending scenario, the maximum price of the last candlestick should be smaller than the minimum price of the third candlestick.
If the filter is turned off, all FVGs that meet at least the minimum conditions are identified. This mode is simplistic and results in a high number of identified FVGs.
If the filter is turned on, you have four options to filter FVGs :
1. Very Aggressive : In addition to the initial condition, another condition is added. For ascending FVGs, the maximum price of the last candlestick should be greater than the maximum price of the middle candlestick. Similarly, for descending FVGs, the minimum price of the last candlestick should be smaller than the minimum price of the middle candlestick. In this mode, a very small number of FVGs are eliminated.
2. Aggressive : In addition to the conditions of the Very Aggressive mode, in this mode, the size of the middle candlestick should not be small. This mode eliminates more FVGs compared to the Very Aggressive mode.
3. Defensive : In addition to the conditions of the Very Aggressive mode, in this mode, the size of the middle candlestick should be relatively large, and most of it should consist of the body. Also, for identifying ascending FVGs, the second and third candlesticks must be positive, and for identifying descending FVGs, the second and third candlesticks must be negative. In this mode, a significant number of FVGs are eliminated, and the remaining FVGs have a decent quality.
4. Very Defensive : In addition to the conditions of the Defensive mode, the first and third candlesticks should not resemble very small-bodied doji candlesticks. In this mode, the majority of FVGs are filtered out, and the remaining ones are of higher quality.
By default, we recommend using the Defensive mode.
🔵 How to Use
🟣 Parameters
To utilize this library, you need to provide four input parameters to the function.
"FVGFilter" determines whether you wish to apply a filter on FVGs or not. The possible inputs for this parameter are "On" and "Off", provided as strings.
"FVGFilterType" determines the type of filter to be applied to the found FVGs. These filters include four modes: "Very Defensive", "Defensive", "Aggressive", and "Very Aggressive", respectively exhibiting decreasing sensitivity and indicating a higher number of Fair Value Gaps (FVG).
The parameter "ShowDeFVG" is a Boolean value defined as either "true" or "false". If this value is "true", FVGs are shown during the Bullish Trend; however, if it is "false", they are not displayed.
The parameter "ShowSuFVG" is a Boolean value defined as either "true" or "false". If this value is "true", FVGs are displayed during the Bearish Trend; however, if it is "false", they are not displayed.
FVGDetector(FVGFilter, FVGFilterType, ShowDeFVG, ShowSuFVG)
Parameters:
FVGFilter (string)
FVGFilterType (string)
ShowDeFVG (bool)
ShowSuFVG (bool)
🟣 Import Library
You can use the "FVG Detector" library in your script using the following expression:
import TFlab/FVGDetectorLibrary/1 as FVG
🟣 Input Parameters
The descriptions related to the input parameters were provided in the "Parameter" section. In this section, for your convenience, the code related to the inputs is also included, and you can copy and paste it into your script.
PFVGFilter = input.string('On', 'FVG Filter', )
PFVGFilterType = input.string('Defensive', 'FVG Filter Type', )
PShowDeFVG = input.bool(true, ' Show Demand FVG')
PShowSuFVG = input.bool(true, ' Show Supply FVG')
🟣 Call Function
You can copy the following code into your script to call the FVG function. This code is based on the naming conventions provided in the "Input Parameter" section, so if you want to use exactly this code, you should have similar parameter names or have copied the "Input Parameter" values.
FVG.FVGDetector(PFVGFilter, PFVGFilterType, PShowDeFVG, PShowSuFVG)
Order Blocks Finder [TradingFinder] Major OB | Supply and Demand🔵 Introduction
Drawing all order blocks on the path, especially in range-bound or channeling markets, fills the chart with lines, making it confusing rather than providing the trader with the best entry and exit points.
🔵 Reason for Indicator Creation
For traders familiar with market structure and only need to know the main accumulation points (best entry or exit points), and primary order blocks that act as strong sources of power.
🟣 Important Note
All order blocks, both ascending and descending, are identified and displayed on the chart when the structure of "BOS" or "CHOCH" is broken, which can also be identified with "MSS."
🔵 How to Use
When the indicator is installed, it plots all order blocks (active order blocks) and continues until the price reaches them. This continuation happens in boxes to have a better view in the TradingView chart.
Green Range : Ascending order blocks where we expect a price increase in these areas.
Red Range : Descending order blocks where we expect a price decrease in these areas.
🔵 Settings
Order block refine setting : When Order block refine is off, the supply and demand zones are the entire length of the order block (Low to High) in their standard state and cannot be improved. If you turn on Order block refine, supply and demand zones will improve using the error correction algorithm.
Refine type setting : Improving order blocks using the error correction algorithm can be done in two ways: Defensive and Aggressive. In the Aggressive method, the largest possible range is considered for order blocks.
🟣 Important
The main advantage of the Aggressive method is minimizing the loss of stops, but due to the widening of the supply or demand zone, the reward-to-risk ratio decreases significantly. The Aggressive method is suitable for individuals who take high-risk trades.
In the Defensive method, the range of order blocks is minimized to their standard state. In this case, fewer stops are triggered, and the reward-to-risk ratio is maximized in its optimal state. It is recommended for individuals who trade with low risk.
Show high level setting : If you want to display major high levels, set show high level to Yes.
Show low level setting : If you want to display major low levels, set show low level to Yes.
🔵 How to Use
The general view of this indicator is as follows.
When the price approaches the range, wait for the price reaction to confirm it, such as a pin bar or divergence.
If the price passes with a strong candle (spike), especially after a long-range or at the beginning of sessions, a powerful event is happening, and it is outside the credibility level.
An Example of a Valid Zone
An Example of Breakout and Invalid Zone. (My suggestion is not to use pending orders, especially when the market is highly volatile or before and after news.)
After reaching this zone, expect the price to move by at least the minimum candle that confirmed it or a price ceiling or floor.
🟣 Important : These factors can be more accurately measured with other trend finder indicators provided.
🔵 Auxiliary Tools
There is much talk about not using trend lines, candlesticks, Fibonacci, etc., in the web space. However, our suggestion is to create and use tools that can help you profit from this market.
• Fibonacci Retracement
• Trading Sessions
• Candlesticks
🔵 Advantages
• Plotting main OBs without additional lines;
• Suitable for timeframes M1, M5, M15, H1, and H4;
• Effective in Tokyo, Sydney, and London sessions;
• Plotting the main ceiling and floor to help identify the trend.
Implied Orderblock Breaker (Zeiierman)█ Overview
The Implied Order Block Breaker (Zeiierman) is a tool designed to identify enhanced order blocks with imbalances. These enhanced order blocks represent areas where there is a rapid price movement. Essentially, this indicator uses order blocks and suggests that a swift price movement away from these levels, breaking the current market structure, could indicate an area that the market has not correctly valued. This technique offers traders a unique method to identify potential market inefficiencies and imbalances, serving as a guide for potential price revisits.
The indicator doesn't scan for imbalances in the traditional sense — where there's an absence of trades between two price levels — but instead, it identifies quick movements away from key levels that suggest where an imbalance might exist. Relying on crossovers and cross-unders in conjunction with pivot points and examining the high/low within the same period provides an innovative method for traders to spot these potentially undervalued or overvalued areas in the market. These inferred imbalances can be crucial for traders looking for price levels where the market might make significant moves.
█ How It Works
Bullish
Crossover: The closing price of a bar crosses above a pivot high, which is an indication that buyers are in control and pushing the price upwards.
New Low Within Period: There is a lower low within the same period as the pivot high. This suggests that after setting a high, the market pulled back to set a new low, potentially leaving a price gap on the way up as the price quickly recovers.
Bearish
Crossunder: The closing price of a bar crosses under a pivot low, indicating that sellers are taking control and driving the price down.
New High Within Period: There is a higher high within the same period as the pivot low. This condition suggests that the market rallied to a new high before falling back below the pivot low, potentially leaving a gap on the way down.
█ How to Use
The enhanced order blocks are often revisited, and the price may aim to 'fill' the potential imbalance created by the rapid price movement, thereby presenting traders with potential entry or exit points. This approach aligns with the idea that imbalances are frequently revisited by the market, and when combined with the context of Order Blocks, it provides even more confluence.
Example
Here, if the price drops rapidly after setting a new high—crossing under the pivot low—it may skip over certain price levels, creating a 'gap' that signifies an area where the price might have been overvalued (imbalance), which the market may revisit for a potential price correction or revaluation.
█ Settings
Period: Determines the number of bars used for identifying pivot highs and lows. A higher value gives more significant but less frequent signals, while a lower value increases sensitivity but might give more false positives.
Pivot Surrounding: Specifies the number of candles to analyze around a pivot point. Increasing this value broadens the analysis range, potentially capturing more setups but possibly including less significant ones.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Order Blocks | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Volumized Order Blocks indicator! This new indicator can render order blocks with their volumetric information. It's highly customizable with detection, invalidation and style settings.
Features of the new Volumized Order Blocks indicator :
Render Bullish & Bearish Order Blocks
Enable / Disable Volumetric Information
Enable / Disable Historic Zones
Visual Customizability
📌 HOW DOES IT WORK ?
Order blocks occur when there is a high amount of market orders exist on a price range. It is possible to find order blocks using specific formations on the chart.
The high & low volume of order blocks should be taken into consideration while determining their strengths. The determination of the high & low volume of order blocks are similar to FVGs, in a bullish order block, the high volume is the last 2 bars' total volume, while the low volume is the oldest bar's volume. In a bearish order block scenario, the low volume becomes the last 2 bars' total volume.
🚩UNIQUENESS
The ability to render the total volume of Order Blocks as well as bullish / bearish volume ratio is what sets this Order Block indicator apart from others. Also the ability to combine overlapping Order Block zones will result in cleaner charts for traders.
⚙️SETTINGS
1. General Configuration
Volumetric Info -> The volumetric information of the Order Blocks will be rendered if activated.
Zone Invalidation -> Select between Wick & Close price for Order Block Invalidation.
Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.
Breaker Blocks | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Volumized Breaker Blocks indicator! This new indicator can render breaker blocks with their volumetric information. It's highly customizable with detection, invalidation and style settings.
Features of the new Volumized Breaker Block indicator :
Render Bullish & Bearish Breaker Blocks
Enable / Disable Volumetric Information
Enable / Disable Historic Zones
Visual Customizability
📌 HOW DOES IT WORK ?
Breaker blocks form when an order block fails, or "breaks". It is often associated with market going in the opposite direction of the broken order block, and they can be spotted by following order blocks and finding the point they get broken, ie. price goes below a bullish order block.
The volume of a breaker block is simply the total volume of the bar that the original order block is broken.
🚩UNIQUENESS
This indicator can not only detect breaker blocks, but it can also detect them with their volumetric information. Volumetric information can be crucial when considering an breaker block's strength, which can be a crucial form of confluence in certain trading strategies.
⚙️SETTINGS
1. General Configuration
Volumetric Info -> The volumetric information of the Breaker Blocks will be rendered if activated.
Zone Invalidation -> Select between Wick & Close price for Breaker Block Invalidation.
Swing Length -> Swing length is used when finding breaker block formations. Smaller values will result in finding smaller breaker blocks.
Order Blocks W/ Realtime Fibs [QuantVue]The "Order Blocks W/ Realtime Fibs" indicator is a comprehensive tool combining the concepts of order blocks with Fibonacci retracement. The combination can be a powerful tool for identifying entry and exit points, and potential target areas.
Order blocks indicate where major players have likely placed their orders, while Fibonacci levels provide a mathematical basis for potential support and resistance areas.
What is an Order Block?
An order block in trading refers to an area on the chart in which it is believed a substantial number of orders (buy or sell) collected over a short period. Typically, these are identified as a range of consecutive aggressive bullish or bearish bars (candles). They represent areas where significant market players have entered the market, creating a footprint of their activity.
The indicator is highly customizable allowing user to select the number of consecutive bars and minimum price movement required for an order block, along with other settings like requiring a new order block in the opposite direction before finding a new order block.
Fibonacci Retracements
Fibonacci retracements are popular among technical traders, based on the idea that markets often retrace a predictable portion of a move, after which they continue to move in the original direction.
Once an Order Block is detected the indicator will automatically draw Fibonacci levels and continue to update those levels in real time until the user selected retracement level has been hit or a new more relevant order block has been found.
The combination of order blocks and Fibonacci retracements in this indicator can be used as a method for spotting potential reversal zones.
Indicator features:
🔹Custom Order Block Parameters
🔹Mitigation Type
🔹Custom Colors
🔹Select Retracement Levels
🔹Alerts for Order Blocks & Retracements
Give this indicator a BOOST and COMMENT your thoughts!
We hope you enjoy.
Cheers!
NormInvTargetSeekerNormInvTargetSeeker
The NormInvTargetSeeker is a trading tool designed to aid traders in identifying and capitalizing on Distribution and Accumulation zones, highlighting specific price levels that could serve as targets for future price movements. Although the indicator itself is not multi-timeframe, an effective trading strategy might involve signal validation across multiple timeframes.
🔶 USAGE
The indicator identifies Distribution and Accumulation zones, providing potential targets for future price moves.
Traders are encouraged to use these zones as profit targets or potential reversal points.
Confluence Zones
These zones are identified as regions where various factors or levels converge, signaling an increased probability of price reaction.
They can be used to reinforce signals or identify levels where price might encounter significant resistance or support.
🔹 Trading Strategy
First, identify a signal on your primary trading timeframe.
Manually check higher timeframes to ensure the signal aligns with them.
Use the identified zones, whether Distribution or Accumulation, as target zones for your trades.
🔶 Order Blocks
The NormInvTargetSeeker identifies "Order Blocks" by examining a specified number of consecutive candles with a specific condition: the current candle must completely engulf the previous candle. This means that both the high and low of the current candle are higher and lower, respectively, than the high and low of the previous candle, signifying a dominant move in the direction of the current candle.
🔹 Trading Strategy
Target Confirmation: Order Blocks can serve to confirm target points, providing additional validation for identified levels.
Market Insight: They offer crucial insights into whether "big hands" or institutional players are positioned as buyers or sellers in the market.
Traders can use Order Blocks as a means to validate targets or key price levels, observing if the price reacts significantly upon reaching these blocks.
They can also provide insights into the general market direction or underlying market strength by identifying where the major market players are placing their orders.
🔶 SETTINGS
The indicator allows users to adjust various parameters to customize the display and logic of the tool to fit their needs.
🔹 Display Settings
Users can customize the colors and displays of various zones and labels to match their preferences.
🔶 LICENSE AND CREDITS
This work is licensed under Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0). More information here: creativecommons.org
This indicator utilizes a TypeScript implementation of the Normal Inverse function as a reference, which can be found here : github.com
Special thanks to the authors of the referenced code for providing a foundation upon which this indicator was built.
🔶 UPDATES
Current Version: 1.0.0
For future updates, please check the comment section.
🔶 CONTACT
For any questions or suggestions, please feel free to contact @RickSimpson on TradingView.
Order Block v1Hello Traders :)
I am Only Fibonacci.
While coding this indicator, I examined many concepts and decided to blend them.
I took the method shared by most traders and added different perspectives and options.
First of all, you can choose how many order block regions you want to see on the screen.
Note: The levels displayed on the screen are the sum of bears and bulls.
You can also choose whichever you want to see, bearish or bullish.
You can specify the precision of pivot points.
Whether you want to select a zone with a body or a zone with a wick, you can see this in the settings.
You can extend the regions infinitely with the right extension option.
OrderBlock [kyleAlgo]The principle of this indicator
ATR (Average True Range) Setting: The code uses ATR to help calculate the Supertrend indicator.
Supertrend Trend Direction: Identify bullish and bearish trends with the Supertrend method.
Order Block Recognition: This part of the code recognizes and creates order blocks, visualizing them as boxes on the chart. If the number of blocks exceeds the maximum limit, old blocks will be deleted.
Function to prevent overlapping: check whether the new order block overlaps with the existing order block through the isOverlapping function.
Order block color setting: The code sets the color according to whether the block is bullish or bearish, and whether it breaks above or below. Afterwards the color of the existing order blocks will be updated.
Sensitivity settings: Through the input settings of factor and atrPeriod, the sensitivity of Supertrend and the detection of order blocks can be affected.
Visualization: Use TradingView's box.new function to draw and visualize order blocks on the chart.
Practicality:
Support and Resistance Levels: Order blocks may represent areas of support and resistance in the market. By visualizing these areas, traders can better understand when price reversals are likely to occur.
Trading Signals: Traders may be able to identify trading signals based on the color changes of blocks and price breakouts. For example, if the price breaks above a bullish block, this could be a signal to buy.
Risk Management: By using ATR to adjust the sensitivity of Supertrend, the symbol helps traders to adjust their strategies according to market volatility. This can be used as a risk management tool to help identify stop loss and take profit points.
Multi-timeframe analysis: Although the code itself does not implement multi-timeframe analysis directly, it can be done by applying this indicator on different timeframes. This helps to analyze the market from different angles.
Flexibility and Customization: Through sensitivity settings, traders can customize the indicator according to their needs and trading style.
Reduced screen clutter: By removing overlapping order blocks and limiting the maximum number of order blocks, this code helps reduce clutter on charts, allowing traders to analyze the market more clearly.
Overall, this "Pine Script" can be a powerful analytical tool for trend traders and those looking to improve their trading decisions by visualizing key market areas. It can be used alone or combined with other indicators and trading systems for enhanced functionality.
Volume Profile Bar-Magnified Order Blocks [MyTradingCoder]Introducing "Volume Profile Bar-Magnified Order Blocks", an innovative and unique trading indicator designed to provide traders with a comprehensive understanding of market dynamics. This tool takes the concept of identifying order blocks on your chart and elevates it by integrating a detailed volume profile within each order block zone.
Unlike standard order block indicators, Volume Profile Bar-Magnified Order Blocks pulls data from lower timeframe bars and assigns it to various segments of the order block. By providing this volume profile inside the order block, the indicator supplies a deeper, multi-dimensional view of market activity that can enhance your trading decisions.
Crucially, users have the ability to fine-tune the detection of order blocks. This is made possible through a single input setting called "Tuning". This integer value allows you to control the significance and frequency of the order blocks. Higher numbers will produce more significant order blocks, though they will appear less frequently. Lower numbers, on the other hand, will yield less significant order blocks, but they will occur more often. This enables you to adjust the sensitivity of the indicator according to your specific trading strategy and style.
Key Settings:
Number of Segments: Customize the level of detail in your volume profile by selecting the number of segments you want inside each order block.
Tuning: Adjust the sensitivity of order block detection to align with your trading strategy. Higher values produce more significant but less frequent order blocks, while lower values yield less significant but more frequent order blocks.
Color Inputs: Personalize the look of your chart by selecting the colors for various elements of the indicator. This ensures a seamless integration with your current chart aesthetics and improves visual clarity.
Here is a s creenshot that beautifully demonstrates the power of this indicator. You'll see how the price rejects perfectly off the highest volume segment in an order block, showcasing the indicator's potential for pinpointing high-impact price levels.
While Volume Profile Bar-Magnified Order Blocks offers many unique features, it should be used in conjunction with other indicators and forms of analysis for a complete trading strategy. As with all tools, it does not guarantee profitable trades but is intended to give traders more information to base their decisions on. Use it to complement your existing analysis and enhance your understanding of market behavior.
Experience a new level of clarity in your trading with Volume Profile Bar-Magnified Order Blocks - an indicator that goes beyond the surface to help you navigate the markets more effectively.
ICT Concepts [LuxAlgo]The ICT Concepts indicator regroups core concepts highlighted by trader and educator "The Inner Circle Trader" (ICT) into an all-in-one toolkit. Features include Market Structure (MSS & BOS), Order Blocks, Imbalances, Buyside/Sellside Liquidity, Displacements, ICT Killzones, and New Week/Day Opening Gaps.
🔶 SETTINGS
🔹 Mode
When Present is selected, only data of the latest 500 bars are used/visualized, except for NWOG/NDOG
🔹 Market Structure
Enable/disable Market Structure.
Length: will set the lookback period/sensitivity.
In Present Mode only the latest Market Structure trend will be shown, while in Historical Mode, previous trends will be shown as well:
You can toggle MSS/BOS separately and change the colors:
🔹 Displacement
Enable/disable Displacement.
🔹 Volume Imbalance
Enable/disable Volume Imbalance.
# Visible VI's: sets the amount of visible Volume Imbalances (max 100), color setting is placed at the side.
🔹 Order Blocks
Enable/disable Order Blocks.
Swing Lookback: Lookback period used for the detection of the swing points used to create order blocks.
Show Last Bullish OB: Number of the most recent bullish order/breaker blocks to display on the chart.
Show Last Bearish OB: Number of the most recent bearish order/breaker blocks to display on the chart.
Color settings.
Show Historical Polarity Changes: Allows users to see labels indicating where a swing high/low previously occurred within a breaker block.
Use Candle Body: Allows users to use candle bodies as order block areas instead of the full candle range.
Change in Order Blocks style:
🔹 Liquidity
Enable/disable Liquidity.
Margin: sets the sensitivity, 2 points are fairly equal when:
'point 1' < 'point 2' + (10 bar Average True Range / (10 / margin)) and
'point 1' > 'point 2' - (10 bar Average True Range / (10 / margin))
# Visible Liq. boxes: sets the amount of visible Liquidity boxes (max 50), this amount is for Sellside and Buyside boxes separately.
Colour settings.
Change in Liquidity style:
🔹 Fair Value Gaps
Enable/disable FVG's.
Balance Price Range: this is the overlap of latest bullish and bearish Fair Value Gaps.
By disabling Balance Price Range only FVGs will be shown.
Options: Choose whether you wish to see FVG or Implied Fair Value Gaps (this will impact Balance Price Range as well)
# Visible FVG's: sets the amount of visible FVG's (max 20, in the same direction).
Color settings.
Change in FVG style:
🔹 NWOG/NDOG
Enable/disable NWOG; color settings; amount of NWOG shown (max 50).
Enable/disable NDOG ; color settings; amount of NDOG shown (max 50).
🔹 Fibonacci
This tool connects the 2 most recent bullish/bearish (if applicable) features of your choice, provided they are enabled.
3 examples (FVG, BPR, OB):
Extend lines -> Enabled (example OB):
🔹 Killzones
Enable/disable all or the ones you need.
Time settings are coded in the corresponding time zones.
🔶 USAGE
By default, the indicator displays each feature relevant to the most recent price variations in order to avoid clutter on the chart & to provide a very similar experience to how a user would contruct ICT Concepts by hand.
Users can use the historical mode in the settings to see historical market structure/imbalances. The ICT Concepts indicator has various use cases, below we outline many examples of how a trader could find usage of the features together.
In the above image we can see price took out Sellside liquidity, filled two bearish FVGs, a market structure shift, which then led to a clean retest of a bullish FVG as a clean setup to target the order block above.
Price then fills the OB which creates a breaker level as seen in yellow.
Broken OBs can be useful for a trader using the ICT Concepts indicator as it marks a level where orders have now been filled, indicating a solidified level that has proved itself as an area of liquidity. In the image above we can see a trade setup using a broken bearish OB as a potential entry level.
We can see the New Week Opening Gap (NWOG) above was an optimal level to target considering price may tend to fill / react off of these levels according to ICT.
In the next image above, we have another example of various use cases where the ICT Concepts indicator hypothetically allow traders to find key levels & find optimal entry points using market structure.
In the image above we can see a bearish Market Structure Shift (MSS) is confirmed, indicating a potential trade setup for targeting the Balanced Price Range imbalance (BPR) below with a stop loss above the buyside liquidity.
Although what we are demonstrating here is a hindsight example, it shows the potential usage this toolkit gives you for creating trading plans based on ICT Concepts.
Same chart but playing out the history further we can see directly after price came down to the Sellside liquidity & swept below it...
Then by enabling IFVGs in the settings, we can see the IFVG retests alongside the Sellside & Buyside liquidity acting in confluence.
Which allows us to see a great bullish structure in the market with various key levels for potential entries.
Here we can see a potential bullish setup as price has taken out a previous Sellside liquidity zone and is now retesting a NWOG + Volume Imbalance.
Users also have the option to display Fibonacci retracements based on market structure, order blocks, and imbalance areas, which can help place limit/stop orders more effectively as well as finding optimal points of interest beyond what the primary ICT Concepts features can generate for a trader.
In the above image we can see the Fibonacci extension was selected to be based on the NWOG giving us some upside levels above the buyside liquidity.
🔶 DETAILS
Each feature within the ICT Concepts indicator is described in the sub sections below.
🔹 Market Structure
Market structure labels are constructed from price breaking a prior swing point. This allows a user to determine the current market trend based on the price action.
There are two types of Market Structure labels included:
Market Structure Shift (MSS)
Break Of Structure (BOS)
A MSS occurs when price breaks a swing low in an uptrend or a swing high in a downtrend, highlighting a potential reversal. This is often labeled as "CHoCH", but ICT specifies it as MSS.
On the other hand, BOS labels occur when price breaks a swing high in an uptrend or a swing low in a downtrend. The occurrence of these particular swing points is caused by retracements (inducements) that highlights liquidity hunting in lower timeframes.
🔹 Order Blocks
More significant market participants (institutions) with the ability of placing large orders in the market will generally place a sequence of individual trades spread out in time. This is referred as executing what is called a "meta-order".
Order blocks highlight the area where potential meta-orders are executed. Bullish order blocks are located near local bottoms in an uptrend while bearish order blocks are located near local tops in a downtrend.
When price mitigates (breaks out) an order block, a breaker block is confirmed. We can eventually expect price to trade back to this breaker block offering a new trade opportunity.
🔹 Buyside & Sellside Liquidity
Buyside / Sellside liquidity levels highlight price levels where market participants might place limit/stop orders.
Buyside liquidity levels will regroup the stoploss orders of short traders as well as limit orders of long traders, while Sellside liquidity levels will regroup the stoploss orders of long traders as well as limit orders of short traders.
These levels can play different roles. More informed market participants might view these levels as source of liquidity, and once liquidity over a specific level is reduced it will be found in another area.
🔹 Imbalances
Imbalances highlight disparities between the bid/ask, these can also be defined as inefficiencies, which would suggest that not all available information is reflected by the price and would as such provide potential trading opportunities.
It is common for price to "rebalance" and seek to come back to a previous imbalance area.
ICT highlights multiple imbalance formations:
Fair Value Gaps: A three candle formation where the candle shadows adjacent to the central candle do not overlap, this highlights a gap area.
Implied Fair Value Gaps: Unlike the fair value gap the implied fair value gap has candle shadows adjacent to the central candle overlapping. The gap area is constructed from the average between the respective shadow and the nearest extremity of their candle body.
Balanced Price Range: Balanced price ranges occur when a fair value gap overlaps a previous fair value gap, with the overlapping area resulting in the imbalance area.
Volume Imbalance: Volume imbalances highlight gaps between the opening price and closing price with existing trading activity (the low/high overlap the previous high/low).
Opening Gap: Unlike volume imbalances opening gaps highlight areas with no trading activity. The low/high does not reach previous high/low, highlighting a "void" area.
🔹 Displacement
Displacements are scenarios where price forms successive candles of the same sentiment (bullish/bearish) with large bodies and short shadows.
These can more technically be identified by positive auto correlation (a close to open change is more likely to be followed by a change of the same sign) as well as volatility clustering (large changes are followed by large changes).
Displacements can be the cause for the formation of imbalances as well as market structure, these can be caused by the full execution of a meta order.
🔹 Kill Zones
Killzones represent different time intervals that aims at offering optimal trade entries. Killzones include:
- New York Killzone (7:9 ET)
- London Open Killzone (2:5 ET)
- London Close Killzone (10:12 ET)
- Asian Killzone (20:00 ET)
🔶 Conclusion & Supplementary Material
This script aims to emulate how a trader would draw each of the covered features on their chart in the most precise representation to how it's actually taught by ICT directly.
There are many parallels between ICT Concepts and Smart Money Concepts that we released in 2022 which has a more general & simpler usage:
ICT Concepts, however, is more specifically aligned toward the community's interpretation of how to analyze price 'based on ICT', rather than displaying features to have a more classic interpretation for a technical analyst.
