Order Block Refinement Indicator Download for ICT in MT4 - Free | Forex Indicator Download - MetaTrader 4 Resources

On August 1, 2025, in version 2, the indicator added alert/notification functionality

The Order Block Refinement ( OBR ) indicator is a unique tool used by traders using the ICT and Smart Money (SMC) trading style, designed specifically for the MetaTrader 4 (MT4) platform. This indicator identifies bullish order blocks in green and bearish order blocks in brown, alerting traders to key areas of the market.

Order block zones are considered critical price areas because large, influential orders increase the likelihood of a price reversal or change in trend direction. This indicator helps analysts make more informed decisions based on price action in these areas.

Order block indicator table

Indicators at a glance

The Order Block Refinement indicator highlights bullish order blocks in green and bearish order blocks in brown on the chart, allowing traders to easily identify these areas.

This indicator is a useful tool for traders to pinpoint high value order blocks, perform more precise analyses , and make better trading decisions based on these trading zones.

Bullish Order Block (OBR)

On the 15-minute GER40 Index chart , the Order Block Refinement ( OBR ) indicator identifies bullish order blocks and displays them in green , notifying traders of key price areas. In this chart, the order block is determined by the price level 18207.4 and marked with a rectangle.

Once price returns to this area, a strong upward reaction occurs, demonstrating the importance of this area in guiding price action and trend changes. Traders can use this information to make more precise trading decisions.

Bearish Order Block (OBR)

In the 5-minute USD/CAD chart, a bearish order block was priced at 1.35720 , displayed in brown . When the price returned to this key price area, it reacted by testing the order block again, but failed to break out of this important area. Thereafter, a sharp downward trend follows.

Refining order block indicator settings

• Color themes for charts and objects: Set the chart theme to one of three options: Light , Dark , or Auto ;
• How many candles to consider: the number of past candles included in the calculation;
• Trend calculation type (ZigZag.Candle): Select the trend calculation type ZigZag or Candles according to the following conditions;
• Do you want to see the arrow for the first period? : Enable/disable the arrow display of the first cycle;
• Do you want to view order blocks? Turn on/off the display of order blocks;
• Order block mode: Set the order block mode to one of three options: Normal , Aggressive ;
• New orders block invalid orders: continue/interrupt previous order block area;
• Invalid orders are blocked after the closing price is outside the following range: The area is completed until a new area is opened.

Conclusion

The Refined Order Block ( OBR ) indicator is a suitable trading tool for traders looking for strong underlying order blocks. This is helpful for traders looking for order blocks on price charts. Identify and draw bullish blocks in green and bearish blocks in brown to highlight large orders from banks and financial institutions.