MT4 Reject Block + Invalid Indicator Download - Free | Forex Indicator Download - MetaTrader 4 Resource

The Rejection Block Indicator is a practical and effective tool for identifying market reversal points among MetaTrader 4 indicators . This tool automatically detects areas of price rejection and reversal .

The rejection block operates on candlestick shadows; the long shadow near the price peak and the short shadow near the price low are considered market reversals or turning points.

Using this indicator, rejection blocks are automatically drawn on the chart. Bullish rejections are shown in green , and bearish rejections are displayed in red .

Indicator specification table

Indicator Overview

The Rejection Block Indicator identifies reversal areas in financial markets; these are areas where price reversal potential is high, and price often returns to these levels to complete.

Traders using the ICT style utilize this indicator to locate areas of rejected blocks . The Void rejected block number is displayed in gray ; once consumed, it indicates that the level is invalid.

Rejection Block Indicator in Bullish Trend

The EUR/USD 4-hour price chart shows the behavior of the indicator during an uptrend. Here, the price encounters a bullish rejection block during a downward correction, creating the best entry point for the price to buy a trade.

Rejection Block Indicator in Bearish Trend

The USD/CHF 4-hour chart shows the indicator’s functionality within an uptrend. The chart increases price upon encountering a bearish rejection block, providing opportunities for sell traders.

Indicator Settings

• Display setting: screen display setting;
• Color themes for charts and objects: chart background color;
• Standard setting: Standard settings;
• Back candles check: Review previous candle charts;
• Object prefix: Object prefix;
• Vertical line display permission: vertical dividing line on the chart;
• Display level 1 trend: Display level 1 trend;
• Show BOS and ChoCh Level 2: Show BOS and ChoCH Level 2;
• Display BOS and ChoCH Level 2 label: Display BOS and ChoCH Level 2 label;
• Show RBs: Show rejection blocks;
• RBs used color: the color used for rejected blocks;
• Invalid Rb beyond area at close range: Invalid deny block with area closed;
• Invalid new area with intersection: Invalid new area with intersection.

Conclusion

The rejection block indicator is a powerful tool for identifying key market reversal points. It helps traders easily identify price reversal areas that act as support and resistance, helping them make informed trading decisions.

This indicator is particularly suitable for ICT trading styles . By using this tool, traders can pinpoint entry and exit points, thereby reducing trading risk.