Order Block Finder
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After finding a huge amount of use from TV user's wugamlo script Order Block Finder (Experimental), I decided to make some much needed upgrades! Added support for plotting the last X number of Order Blocks and am currently working on a multi-timeframe version.
If you'd like to contribute to the MTF analysis portion, that would benefit tons of other scripts and open the possibility to more "MTF Panel" style indicators.
Please visit the original script page (link at top) to review how the indicator is used in trading.
backtest
Source
Pine
/*backtest
start: 2022-04-22 00:00:00
end: 2022-05-21 23:59:00
period: 30m
basePeriod: 15m
exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}]
*/
//@version=4
study("Order Block Finder", overlay = true)
tip1 = "Indicator to help identify instituational Order Blocks (OB). OBs often signal the beginning of a strong move. There is a high probability that OB price levels will be revisited in the future and are interesting levels to place limit orders. Bullish Order block is the last down candle before a sequence of up candles. Bearish Order Block is the last up candle before a sequence of down candles."
tip2 = "!Experimental!\nFind Order Blocks from different timeframes. Channels prices are accurate, but arrow position is not. Most useful when selecting a timeframe higher than the chart."Strategy parameters
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