Order Block Support Resistance Candle by Algedo

ORDER BLOCK CANDLE BY ALGEDO
This indicator is built to help you spot potential support & resistance areas using order blocks with impulse candles.

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CORE IDEA
The logic starts from a basic assumption:

Every bullish candle can act as a bearish order block
Every bearish candle can act as a bullish order block

That’s why this indicator filters only strong momentum candles (impulse) using ATR.
Only candles with enough strength are considered relevant.

Once a valid impulse candle is found, the area is marked visually as a zone (box) on the chart.

Wick also plays an important role here.
The indicator identifies valid highest and lowest wicks using pivot logic.
These wicks often act as key resistance and support levels.

HOW IT WORKS

Detects impulse candles using ATR: (high - low) ≥ ATR × multiplier
Looks back at previous consecutive bear/bull candle, to define the order block zone
Builds support & resistance zones :
- Extend to the right (optional)
- Adjust when price interacts with it
- Automatically disappear once the level is broken

FEATURES :

ATR Period : Controls the ATR calculation length
ATR Multiply : Defines how strong a candle needs to be to count as an impulse
Pivot Left : Number of candles to the left to determine local highs/lows
Pivot Right : for high/low wick validation
Extend Active Zone : Keeps zones extending while they are still valid
Show Impulse Candle : Highlights impulse candles directly on the chart

HOW TO USE

Identify key support & resistance levels
Find potential reaction or reversal areas
Add confluence to your strategy (price action, SMC, etc.)

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NOTES
Use this as a supporting and educational tool, not your only decision maker.

Hope it helps 🙌
Feel free to drop a comment if you have questions or feedback!

Notas de Lançamento

Release Notes :
Order Block Support Resistance Candle v1.2

Added volume filter for impulse validation:

Volume Factor : Detects high-volume candles
Volume MA Period : Volume moving average as baseline

Improves signal quality by filtering low-volume moves.

Script de código aberto

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Script de código aberto

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