This indicator identifies and displays key trading zones based on order block theory, helping traders spot potential support and resistance areas where significant buying or selling pressure has occurred.
Key Features
Dynamic Zone Detection
Automatically identifies bullish and bearish order blocks
Uses volume-weighted analysis for zone strength
Displays clear BUY and SELL zone labels
Customizable Parameters
Swing Length: Adjustable sensitivity (default: 10)
Zone Count: Options from "One" to "High" (1-10 zones)
ATR Multiplier: Controls zone size validation (default: 3.5)
Volume Information: Optional display of volume data
Visual Elements
Green zones indicate bullish order blocks (potential support)
Red zones indicate bearish order blocks (potential resistance)
Volume percentage shown for each zone
Clear labeling of BUY/SELL zones with precise levels
Advanced Features
Zone combining logic to prevent overlapping
Multiple timeframe support
Dynamic zone extension
Historical zone tracking
Zone invalidation monitoring