The script [KaraTread] Order Block indicator is designed to identify and visualize Order Blocks on the chart. An Order Block is a zone where significant accumulation or distribution of assets occurs, which can signal the beginning of a major price movement in the future.
Key Features:
Order Block Detection: The script identifies zones where the market may change direction based on characteristic candlestick patterns and volume. It detects both Bullish (for potential buying) and Bearish (for potential selling) Order Blocks.
Visualization: - Order Blocks are drawn on the chart as rectangles in different colors for easy identification. - Depending on the strength of the Order Block, the zone is accompanied by volume indicators to highlight key levels.
Volume Analysis: The indicator calculates the volume for each Order Block and can display percentage data about the volume, allowing traders to see where significant trading volumes occurred, which might indicate strong Order Blocks.
Main Settings: Volume:
Show Volume — Displays the volume within the Order Block zone.
Volume Threshold % — Sets the volume threshold above which the Order Block is highlighted as important.
Order Block Colors:
Choose colors for each type of Order Block, depending on whether it is Bullish or Bearish.
Optimization:
Order Block Count — The maximum number of Order Blocks that can be displayed on the chart.
In my Telegram channel, you can find thoughts on the financial market, crypto, as well as charts and analysis on Forex and crypto. Occasionally, I also share my predictions and signals.
📊 Telegram: t.me/+653rN6lR6owwZDcy
In my Telegram channel, you can find thoughts on the financial market, crypto, as well as charts and analysis on Forex and crypto. Occasionally, I also share my predictions and signals.
📊 Telegram: t.me/+653rN6lR6owwZDcy