OPEN-SOURCE SCRIPT
Updated Orders Blocks [TK]
This indicator draw only valid orders blocks on your 1 minute Chart
An order block is created when :
A bullish candle engulf a previous bearish candle
A bearish candle engulf a previous bullish candle
Once the order block is created, a zone is stretched to the actual bar
If the price goes into the order block zone, the zone is reduced accordingly
If the price cross the order block zone, the order block and its zone are deleted
This way, you will have on your screen only the orders blocks nevers crossed
You can choose the color of the bearish and of the bullish order block zone in the settings
NB :
An order block is created when :
A bullish candle engulf a previous bearish candle
A bearish candle engulf a previous bullish candle
Once the order block is created, a zone is stretched to the actual bar
If the price goes into the order block zone, the zone is reduced accordingly
If the price cross the order block zone, the order block and its zone are deleted
This way, you will have on your screen only the orders blocks nevers crossed
You can choose the color of the bearish and of the bullish order block zone in the settings
NB :
- Order block older that 5000 bars are deleted
- This indicator works only in the 1 minute timeframe
Release Notes
V1.2 The script work on every time frame and will draw the orders blocks from the same timeframe
The code is more efficient and with comments
Release Notes
v1.3 : Add max bar back for the time variable to avoid pinescript run time errorRelease Notes
Correction : Multiple orders blocks can now be deleted by only one huge price moveRelease Notes
You can choose to alway show the order block of the 1D (One day) timeframe, even if your chart is in a inferior timeframe.Correction of a minor bug.
Release Notes
Modify max_bars_back for the non premium accountRelease Notes
V2.0 : You can now force the view of the Order Block from the 1 day and/or 1 hour timeframe if you are in a smaller timeframeThe script draw all the Order Blocks inside the lowest and highest value of the price drawn in the user screen,
and only 1 order block is drawn outside this price range.
The script adapt the number of order blocks to draw if the user change the view.
The way of storing the data is more effective
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.