// How it Works \\ Order Blocks based on pivot reversal candle When a pivot High or Pivot Low is found and confirmed, a box will be plotted on the open and close values of that pivot candle
// Settings \\ In the settings you have the ability to change the distances required to confirm an pivot High or Low These are the lengths where the script checks to see if it is at its local high or low.
You also have the ability to change the amount of candles the box stretches over as well as the colors of the bullish and bearish boxes
// Use Case \\ Pivot points often provide Support and Resistance points on their own, one way of marking up order blocks is by taking the pivot candle and marking that up as a resistance area where you could be looking for price to reverse
// Suggestions \\ Happy for anyone to make any suggestions on changes which could improve the script,
// Terms \\ Feel free to use the script, If you do use the script could you please just tag me as I am interested to see how people are using it. Good Luck!
Notes de version
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Added an option to be able to choose whether you take the Highs and Lows from Wicks or the bodies of the candles
Notes de version
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Added option to have boxes extend until price hits them. Once price hits them they will change to the chosen colour in the settings. If you want them to be invisible set the opacity to 0% on the closed colour
For intraday will it be useful to use on 5 mins time frame or 15 mins TF
TradingWolf
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@tradeview-1234, I think it will depend more on what asset it is you are trading IMO
mistu2013comp
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After how many candel it will appear green or red
TradingWolf
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@mistu2013comp, In the settings inputs, you will see you have high/low pivot counts, the first value looks back x amount of candles to check its a pivot high, the 2nd one looks forward, if you want them to appear sooner change the 2nd value to a lower value and they will appear that many candles after the OB is formed
DonnaMc
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Thank you so much for your amazing contribution. I am so grateful
TradingWolf
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@DonnaMc, No problem, I am glad you find it useful :)
PapaAlan
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Good Job on this. I'm really wrapped up on another project but wanted to ask you a question.
I know it's been a while since you published this but personally I equate more importance to order blocks if they are at/near swing levels. Once you have determined the swing/pivot areas, are you creating the OB boxes based upon the ICT Order Block criteria? or am I just full of it when understanding this lol.
TradingWolf
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@PapaAlan, Not based on ICT OB although I think they are fairly similar, these are based on Pivots
PapaAlan
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@TradingWolf, just wondered because i thought i might attempt an OB indicator that allows multi time frame, ie. watching 5min chart and enabling to show 1hr OB's, 4hr OB's etc. thanks, will take a look