Order Block

il y a 12 heures

RSI-Based Order Block Indicator

This indicator automatically detects and plots bullish and bearish Order Blocks based on RSI pivot highs and lows.

🔹 How It Works
• The script uses RSI pivot highs to identify potential Bearish Order Blocks.
• RSI pivot lows are used to detect Bullish Order Blocks.
• Order Blocks can be based on either the candle body or the full candle range.
• An optional RSI filter allows you to only show OBs when RSI is above 70 (bearish) or below 30 (bullish).
• ATR filtering removes weak or insignificant candles by requiring a minimum size.

🔹 Mitigation Logic
Order Blocks are automatically removed when price mitigates them:
• If set to Close, mitigation occurs when the candle closes beyond the OB level.
• If set to Wick, mitigation occurs when price wicks through the level.

🔹 Customization Options
• RSI Length
• Pivot Length
• ATR Sensitivity
• Candle Type (Body / Full Candle)
• Mitigation Method (Close / Wick)
• Number of visible Order Blocks
• Custom colors for bullish and bearish zones

🔹 How to Use
1. Wait for price to return into a plotted Order Block zone.
2. Look for confirmation (market structure shift, rejection, lower timeframe signal, etc.).
3. Bullish OBs may act as demand zones.
4. Bearish OBs may act as supply zones.

This indicator is best used in confluence with structure, liquidity concepts, or trend analysis.

il y a 11 heures

Notes de version

For a more professional version of the indicator

tr.tradingview.com/script/acx6R0qK/

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