MT5 Reject Block + Invalid Indicator Download - Free | Forex Indicator Download - MetaTrader 5 Resource

The Rejection Block Indicator is an effective tool for identifying market reversal zones (Reversal Zone) among MetaTrader 5 indicators . The indicator automatically draws rejection block areas, taking into account the candle shadows on the chart, where the upper shadow near the price peak and the lower shadow near the price low are marked as reversal points.

Additionally, the Void reject block's (consumed portion) is displayed in gray , and once that amount is consumed, it indicates that the level is no longer valid.

Indicator specification table

Indicators at a glance

The Rejection Block Indicator identifies rejection block area shadows by analyzing long candles. Once identified, the indicator automatically plots the rejection block area on the chart. Traders utilizing ICT's liquidity-based trading style can use this indicator to discover reversal points. Bullish rejection blocks are marked with green boxes and bearish rejection blocks with red boxes .

Rejection Block Indicator in Uptrend

The price chart of Bitcoin (BTC) on the 1 hour timeframe shows that the indicator is working. After identifying the low and candle shadow, the indicator draws the rejection block area. Subsequently, the price returned to this level in a corrective downtrend, creating a suitable entry point for the price. Buy position.

Rejection Block Indicator in Downtrend

The EUR/USD 30-minute price chart illustrates the functionality of the indicator in a downtrend. As shown in the figure, after a bearish rejection block is formed, the price corrects and then rises, reaching the rejection block. This setup provides traders with a suitable entry opportunity.

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;
• Display BOS and ChoCH Level 1: Display character changes and BOS;
• Display level 2 trend: Display level 2 trend;
• Display BOS and ChoCH Level 2: Display character changes and BOS;
• Display BOS and ChoCH level 2 labels: Display BOS and ChoCH level 2 labels;
• Show RBs: Show rejection blocks;
• RBs used color: Color used in RBs;
• Invalid RB near out of zone: Inactive RB in zone closed;
• Invalid new area with intersection: Invalid intersecting new area.

Conclusion

The Rejection Block Indicator is a tool for identifying price reversal zones in the market. This indicator identifies key market reversal points by analyzing the candlestick shadows of price highs and lows. Once identified, rejection block areas are automatically plotted on the chart, allowing liquidity-based and ICT-style traders to incorporate this tool into their strategies.