By recognizing these critical order blocks, traders can efficiently position themselves for optimal entries and exits within high-probability trade setups.
You can download it from this link:https://cdn.tradingfinder.com/file/2...5-by-tflab.zip
You can also access the MetaTrader 4 version of this Indicator through this page:https://www.forexfactory.com/thread/...nd-smart-money
For instructions on how to install:https://www.forexfactory.com/thread/...-in-metatrader
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Key Features and Use Cases
The OB Indicator leverages a proprietary algorithm to detect price areas of institutional interest. These zones are highlighted clearly on the chart:
- Bullish order blocks are represented in green.
- Bearish order blocks are shown in brown.
Once the price returns to these zones, the likelihood of a strong market reaction increases. Traders utilizing this indicator are better equipped to manage their trades with precision.
Indicator Categories
- Smart Money MT5 Indicators
- Supply and Demand MT5 Tools
- ICT MT5 Trading Tools
- Currency Strength Indicators
Platform Compatibility
- MetaTrader 5 (MT5)
Recommended Skill Level
- Advanced Traders
Indicator Types
- Leading MT5 Indicators
- Reversal Signal Indicators
- Multi-Timeframe Capability
Applicable Trading Styles
- Intraday Trading
- Scalping Strategies
- Day Trading
Supported Instruments
- Forex Currency Pairs
- Commodities
- Indices
Bullish Order Block (OB)
Example: 4-Hour GBP/USD Chart
On the 4-hour GBP/USD chart, the Order Block Indicator marks critical bullish zones in green, indicating areas where financial institutions and major banks have placed buy-side orders. These candles are often large in body and structure and represent zones of concentrated demand.
When price returns to these order blocks, a strong bullish reversal is often observed. Traders can use these areas to plan high-probability long entries and define risk with accuracy.
Bearish Order Block (OB)
Example: 15-Minute NZD/CAD Chart
The indicator identifies bearish order blocks in brown, showing key price levels where institutional sellers have likely entered the market. For example, at 0.83511, price made contact with a bearish zone and subsequently reversed downward.
Additionally, at 0.84018, multiple order blocks were detected where price repeatedly failed to break through resistance. These are considered high-value supply zones and can help traders identify short-selling opportunities and manage risk in volatile conditions.
Order Block Indicator Settings
Example: 15-Minute Chart of Gold (USD/CHF)
The OB Indicator provides two core settings to refine user experience and analysis:
- Candles to Check: Set the number of candles from which historical calculation begins.
- Theme Option: Choose between Dark and Light modes for optimal visual comfort.
These configurations allow traders to customize the indicator based on their preferred analysis style and trading setup.
Summary
The Order Block Indicator (OB) for MT5 is a high-precision tool built for traders who utilize Smart Money and ICT strategies. With its sophisticated algorithm, the indicator identifies bullish and bearish institutional price zones, helping traders anticipate market reversals or trend continuations.
This tool supports accurate technical decision-making by:
- Pinpointing institutional price levels
- Enhancing entry and exit timing
- Improving risk-to-reward planning
- Supporting real-time market analysis
Whether trading forex, commodities, or indices, the OB Indicator allows traders to navigate the markets with a professional, data-driven edge.
