Circuit Breaker Block and Order Block Indicator (BB+OB) for MT4 ICT Download - Free - MetaTrader 4 Resources

This indicator uses a unique algorithm to identify areas where orders and breakout blocks overlap. These areas appear as bullish zones as green zones and brown bearish zones on the MetaTrader 4 (MT4) platform.

Traders can use this ICT-style advanced indicator to identify these areas and improve their trading decisions.

BB+OB indicator table

Identify Bullish Breakout Blocks and Order Block Overlaps

In the 15-minute GBP/JPY chart below, the BB+OB Indicator has identified bullish order blocks and breakout blocks, highlighting the overlapping areas in green.

Once prices returned to this key area, they quickly reacted and resumed their upward trend.

Identify bearish breakout blocks and order block overlaps

In the 15-minute EUR/USD chart below, price is forming lower lows in a downtrend. The BB+OB indicator has identified Order Blocks and Breakout Blocks in the downtrend, showing the overlapping areas in brown.

Traders can observe these areas to identify potential price reactions and make better trading decisions.

Indicator Settings

Display Setting

• Color themes for charts and objects: Color theme selection settings

General Setting

• Look Back Candles: Set historical calculated amounts based on candles
• Show Start Line: Show/hide the starting point of calculation
• Hide Intersection: Show/hide the intersection of two order blocks

Level1 Setting

• Level1 trend calculation type: Set the calculation type of the dotted line
• Level1 Trend Show: Show/hide level 1 trend

Level2 Setting

• Level2 Trend Show: Show/hide level 2 trend

OB Setting

• Level1 OB Mode: Set the calculation mode type of level 1 order block: normal, offensive, defensive
• Level1 OB Show: Show/hide level 1 order block

BB Setting

• Lev1 BB Mode: Set the mode type of level 1 circuit breaker block: normal, offensive, defensive
• Level1 BB Show: Show/hide level 1 circuit breaker block

BBOB Setting

• Level1 BBOB Show: Show/hide order block + circuit breaker block

Conclusion

The BB + OB indicator is useful for traders looking for areas where order blocks and breakout blocks overlap.

This MT4 ICT indicator can also independently identify and display Order Blocks and Circuit Breaker blocks on the chart, allowing traders to make better trading decisions quickly.