OB Identify + Verify v1.8

OB Identify + Verify

An educational tool to help you identify and verify ICT-style Order Blocks on any timeframe. It marks the key candles involved in OB formation so you can learn to spot them yourself.

━━━ CHART LEGEND ━━━

▲ = Bullish OB candle (last down-close before upward displacement)
▼ = Bearish OB candle (last up-close before downward displacement)
✓ = Displacement confirmed (candle closed beyond OB open)
OB+ = Bullish Order Block — expect price to find support here
OB- = Bearish Order Block — expect price to find resistance here

━━━ HOW ORDER BLOCKS FORM ━━━

Bullish OB (OB+)
1. A down-close candle forms (sellers in control)
2. The next candle displaces upward and CLOSES ABOVE the down-close candle's open
3. The down-close candle is now marked as the Order Block
4. Price may return to this level as SUPPORT

Bearish OB (OB-)
1. An up-close candle forms (buyers in control)
2. The next candle displaces downward and CLOSES BELOW the up-close candle's open
3. The up-close candle is now marked as the Order Block
4. Price may return to this level as RESISTANCE

━━━ WHEN IS AN OB INVALIDATED? ━━━

An Order Block is invalidated when price CLOSES THROUGH the OB level:
• OB+ invalid = price closes BELOW the line
• OB- invalid = price closes ABOVE the line

The line will stop extending when this happens (if "Stop Line at Mitigation" is enabled).

━━━ HOW TO USE THIS INDICATOR ━━━

Step 1: Identify
Look for the ▲/▼ markers — these show you which candle is the Order Block.

Step 2: Verify
The ✓ confirms that displacement was strong enough. No checkmark = no valid OB.

Step 3: Wait for Return
Price often returns to OB levels. Watch for price to come back to the OB+ line (support) or OB- line (resistance).

Step 4: Confirm Context
IMPORTANT: This indicator detects the pattern only. For higher-probability setups, verify that the OB forms at a significant level such as:
• Higher timeframe Fair Value Gap (FVG)
• Previous Order Block
• Liquidity sweep (swing high/low taken)
• Key support/resistance

━━━ SETTINGS GUIDE ━━━

ATR Multiplier (Displacement Filter)
Controls how strong the displacement candle must be:
• 0.5 = More OBs, some weaker
• 1.0 = Balanced (default)
• 1.5+ = Fewer OBs, higher quality

Timeframe suggestions:
• 1m charts: 0.8 – 1.2
• 5m charts: 0.5 – 1.0
• 15m charts: 0.5 – 0.8
• 4H charts: 0.3 – 0.7

Max OBs
Limits how many OBs display to keep your chart clean. Default is 5 each for bullish/bearish.

Stop Line at Mitigation
When ON, the OB line ends when price closes through it (invalidation). When OFF, lines extend indefinitely.

━━━ TIPS FOR LEARNING ━━━

1. Start with markers ON — watch how OBs form in real-time
2. Increase ATR multiplier if you see too many weak OBs
3. Zoom out — check if the OB aligns with higher timeframe levels
4. Practice identifying the OB candle before the indicator marks it

━━━ CREDITS ━━━

Based on ICT (Inner Circle Trader) Order Block concepts. Built for educational purposes to help traders learn to identify these patterns independently.

Sürüm Notları

v1.9 — Alerts + reliability fixes

NEW: Alerts
You can now set alerts for three events (turn each on or off under Inputs → Alerts):
• New OB formed: fires when the displacement candle closes, with the OB level in the message
• Price taps OB level: fires the first time price returns to an active OB (once per OB)
• OB invalidated: fires when a candle closes through an active OB level

How to set up: Create Alert → Condition: this indicator → pick either
"Any alert() function call" (every event you enabled, with the price level), or
a single condition (New OB+, OB- Tapped, OB+ Invalidated, etc.).
Tip: use "Once Per Bar Close" for New OB and Invalidated so they only fire on closed candles.

IMPROVED
• The displacement candle must now close in the direction of the move. A large
candle closing the opposite way no longer creates an OB, so you get fewer false OBs.
• With "Stop Line at Mitigation" OFF, invalidated OBs now show as dashed lines
so you can tell them apart from active ones.
• New setting: "Keep Mitigated OBs (per side)" controls how many invalidated
OBs stay on the chart for reference (default 3, set 0 to remove them right away).

FIXED
• "Max Bullish/Bearish OBs" could show more active OBs than the limit.
• Invalidated OBs piled up in the background on long charts, slowing the script down.

Existing settings, colors and markers are unchanged.

Sürüm Notları

Moved: this indicator continues as "Order Block Identify & Verify"
New version with alerts (new OB, tap, invalidation), improved displacement
filtering and bug fixes:

This version will no longer be updated.

Sürüm Notları

updated the correct link for the new code

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