Order Block and Daily Levels VTREND
The Order Block and Daily Levels is my first script designed to add context with order blocks to how i trade.
I have included a volume weighted band in green, as it's use is core to my trading style. I have often found however, there needs to be more clarify in structure which some of my previous scripts did not provide, so i have coded up some custom order blocks, which can be altered along the lines of how sensitive they are.
There is also a high time frame volume average line to combine the green volume weighted band to identify a bullish or bearish trend.
The other key change I am experimenting with, is trading off the daily levels, this is reflected here with a change is barcolor, above or below the daily level and a 'cross' symbol.
Included are 'chance of reversal' diamonds.
You can see here with the trend, volume and structure information given, there is a clearer idea of where price might head to next. Combine this with yur own levels too.
This can be useful on low time frames too.
So far I have experimented with this script on the 4/2/1 hour and 25 / 5 minutes
I have included a volume weighted band in green, as it's use is core to my trading style. I have often found however, there needs to be more clarify in structure which some of my previous scripts did not provide, so i have coded up some custom order blocks, which can be altered along the lines of how sensitive they are.
There is also a high time frame volume average line to combine the green volume weighted band to identify a bullish or bearish trend.
The other key change I am experimenting with, is trading off the daily levels, this is reflected here with a change is barcolor, above or below the daily level and a 'cross' symbol.
Included are 'chance of reversal' diamonds.
You can see here with the trend, volume and structure information given, there is a clearer idea of where price might head to next. Combine this with yur own levels too.
This can be useful on low time frames too.
So far I have experimented with this script on the 4/2/1 hour and 25 / 5 minutes
Release Notes:
Updated Order Block shading
Release Notes:
Code Updates