Order Blocks with Market Structure

Smart Money are institutional investors, market mavens, banks, and other financial professionals who use price action concepts to enter and exit the market. Order Blocks are supply and demand zones that track the accumulation of orders (when bullish) and distribution of orders (when bearish).

This indicator uses price action known concepts, such as swing structure, and support/resistance, among others, to determine the order blocks location and the market structure. The indicators plot many interesting signals in real-time;

1- Bullish and Bearish Order Blocks (OB)
2- Market Change of Character (CHoCH) (Bullish or Bearish)
3- Break of Market Structure (BOS) (Bullish or Bearish)
4- The candle Color of the market direction
5- Swing pivots (Higher High, Lower High, Higher Low, Lower Low)
6- Bullish and Bearish Volume calculated from Volume Profile at recent order blocks
7- Anchored VWAP at swing high and swing lows for both fast and slow swing structures.

The indicator also provides hidden series plots which can be used in your automated strategy and for backtesting
1- Order Block Start Bar
2- Order Block top and bottom lines
3- Signals of CHoCH and BOS
4- Bull/Bear Volume Accumulation for the last Order Block

And much more!

Version 1.1 New Features

Four new plots were added to this indicator

• fLastSwingHigh (indicates the what is the last high, 1 = LH, and 2=HH)
• fLastSwingLow (indicates the what is the last low, -1=HL, and -2=LL)
• sLastSwingHigh (indicates the what is the last high, 1 = LH, and 2=HH)
• sLastSwingLow (indicates the what is the last high, -1=HL, and -2=LL)

Note that these plots have a late update, after the swing is detected by the algorithm. E.g. if the swing duration is 5, the plot will detect that it is a new high after 5 bars.

Version 1.1.1

• Support calculation on Tick Change

Version 1.2

• Added Order Block Filter (Cumulative Mean Range, ATR)

Version 1.2.6

• Ability to change the color of premium and discount zones.
• Ability to adjust the transparency of zones and order blocks.
• Ability to change the line width.
• Ability to change label fonts and colors.
• Added show/hide Volume Labels
• Added new plots (Next unfulfilled OB)