Simple Order Blocks

An order block also known as a block of order is a significant order placed for sale or purchase of a large number of securities. They are often used by institutional traders, and is a different way of looking at support and resistance. These levels are temporally used, before new levels and areas of interest are created.

The simple order block indicator attempts to find the order blocks, which are more often than not optimal trade entries. The primary strategy when using the indicator when making entries at strategic points, we expect the price to move away from that price point and should not return. If the price returns, then the strategy becomes violated. Because of that, the stop loss should be brought to breakeven after a few pips have been booked, say 10–15 pips.

Simple order blocks indicator works best on the H4 timeframe.

NOTE: Press SHIFT key to refresh the indicator whenever the order blocks become distorted.

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