Order Blocks + Invalid Indicator Download MT4 - Free - [Trading Search] | Forex Indicators Download - MetaTrader 4 Resources

Order Blocks is an important area for large volumes of buy and sell orders from major financial institutions. Order blocks usually show strong support and resistance levels on the chart.

The Order Block + Void indicator for MetaTrader 4 automatically plots these order blocks on the price chart. One feature of this indicator shows the consumed portion of the order block as a percentage, and the consumed area turns gray.

This liquidity indicator draws bullish order blocks as green boxes and bearish order blocks as red boxes.

Indicator specifications

Indicators at a glance

The Order Block indicator helps traders identify and draw order blocks, providing suitable order areas to stop loss (SL) and take profit (TP) lines.

This indicator is useful for traders who are using liquidity strategies such as Smart Money and ICT strategy. When the price is close to the order blocks plotted against the indicator, there is a high probability of reaction and reversal from that zone.

How Bullish Order Blocks Form and Work

The price chart of the USD/CHF currency pair on the one-hour timeframe shows how the bullish order block works. According to the chart, the indicator first identifies the order placement area and then plots bullish order blocks in green. A price reversion bullish order block provides a good entry point for buy trades.

The gray area in the bearish order block shows the consumed portion of the block.

How Bearish Order Blocks Form and Work

In bearish situations, such as on the ETH price chart on the 30-minute time frame, the indicator identifies the order placement areas and plots bearish order blocks in red. Price returns to the order block can be a suitable entry point to sell trades. Whenever an order block as shown in the picture is completely consumed, it changes color to gray and becomes inactive.

Indicator Settings

• Color theme of charts and objects : chart theme is Light;
• Back candles check : Calculate the number of candles in the order block as 1000;
• Prefix of the object : defines the prefix of the objects and items drawn by the indicator;
• Vertical line display permission : Enable display of vertical lines formed by order blocks;
• Show level 1 trends : Turn off display of level 1 trends;
• Show BOS and ChoCh Level 1 : Disable display of structural breaks and character changes at level 1;
• Show level 2 trends : Show level 2 trends is enabled;
• Display BOS and ChoCh Level 2 : Disable display of structural breaks and character changes at Level 2;
• Show BOS and ChoCh level 2 tags : tags related to structure breaks and character changes are disabled;
• The type of OB : The extracted commission block type is aggressive;
• Show OBs : Show order blocks are enabled;
• OBs Used color : Color change of used order blocks;
• Invalid for OBs outside the area at close range : enable deletion of corrupted blocks;
• Invalid new areas with intersections : Remove new blocks when overlap with old blocks is enabled;
• Invalid zone show : Disable display of invalid zones.

Summary

The Order Block + Void indicator is a flexible and practical tool for identifying and drawing order blocks. This indicator applies to all markets, including Crypto , Forex , and Stocks , and is suitable for traders using supply and demand or liquidity based strategies.