INVITE-ONLY SCRIPT

OrderBlock_TradingHub

Actualizado
An order block refers to a specific area on chart that represents a significant level of support or ‎resistance where institutional traders have placed large orders. By identifying order blocks, traders ‎can gain insights into the intentions and actions of the smart money participants.‎
Typically, the order block is represented by the last bullish (bearish) candle before a downtrend ‎‎(uptrend) initiate. Whereas this indicator is quite different from the existing order block detection ‎tools. It categorizes order blocks into different types (Main order blocks, Unmitigated shadow order ‎blocks and Single candle order blocks), checking the following criteria based on TradingHUB-3 ‎technical method:‎
‎1) Take out liquidity‎
‎2) Cause imbalance‎
‎3) Not to be inside-bar

How it works:‎
This indicator identifies 3 types of order blocks through the following procedure:‎

‎1) Main Order Blocks (Extreme, Decisional, and SMT(smart money trap)):‎
‎• Check that the candle is not inside bar.‎
‎• Check that the candle has taken out the liquidity beyond the previous candle's high/low.‎
‎• Check that the candle has created an imbalance (FVG) after; if not: the order block will be ‎transferred to the first following candle that created imbalance. We check up to three following ‎candles to find any imbalance.‎

‎2) Unmitigated Shadow Order Blocks:‎
‎• Check that the candle has taken out the liquidity beyond the previous candle's high/low. ‎
‎• Check that the price has not touched the shadow so far.‎

‎3) Single Candle Order Blocks (SCOB):‎
‎• Check that the candle is not inside bar.‎
‎• Check that the candle has taken out the liquidity beyond the previous candle's high/low.‎
‎• Check confirmation:‎
‎-‎ If the candle is closed higher/lower than the previous candle high/low, it is confirmed as a ‎SCOB; otherwise:‎
‎-‎ Move forward up to a specified number (determined by the user) to find a confirmation ‎candle. A confirmation is a candle that closed higher/lower than the SCOB and its following ‎candles high/low. The SCOB's following candles, and the confirmation candle should not ‎take out the SCOB's liquidity again.‎

How to use it:
‎• This indicator can be used in all time frames.‎
‎• If the liquidity is taken out in an uptrend (downtrend) market structure, when the price meets the ‎order blocks, we can go to lower timeframes and look for a trigger to enter the long (short) trade.‎
‎• It is essential for smart money traders to diagnose the market structure accurately. The ‎‎"Structure_TradingHub " indicator is recommended for its ability to analyze the market structure ‎effectively.‎

Indicator options:
‎• Show/Hide mitigated order Blocks: By this option, the user can choose whether to delete the ‎touched order blocks or trimmed them.‎
‎• Show/Hide the unmitigated shadows. They are displayed by dashed lines.‎
‎• Show/Hide single candle order blocks: They are displayed by two lines placed above and below ‎the candle. ‎
‎• Changing the color and style of uptrend and downtrend order blocks.‎
Notas de prensa
A Telegram Bot is mentioned for getting access to the indicator.
Candlestick analysisorderblockssinglecandlestickpatternsmartmoneysmcconceptsSupport and Resistancetradinghubunmitigatedshadows

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Instrucciones del autor

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