OPEN-SOURCE SCRIPT
ICT Order Block
OVERVIEW
ICT Order Block marks the last opposite candle before a strong, one-sided move. A bullish order block is the last down candle before a strong up candle, and a bearish order block is the last up candle before a strong down candle. The block is drawn as a box that extends to the right, and it is faded once price has traded back into it. Optional filters and a breaker block option are included.
HOW IT WORKS
A displacement is a candle whose body is at least a chosen multiple of the average true range. When a bullish displacement appears, the indicator looks back for the last bearish candle before it and draws its range as a bullish order block. A bearish displacement is the mirror. The block can be built from several consecutive candles of the same direction. Optional filters accept a block only if the displacement also left a fair value gap, only if a break of structure or a change of character occurred just before it, or mark it weak if most candles after it are inside bars or dojis. Optional body refinement draws a second, filled box from body to body. A block is mitigated the first time price trades into it, measured on the close or on the wick, and is then faded or hidden. A block that price breaks through can be turned into a breaker block, the same box in the opposite direction. Blocks are tracked for a chosen number of bars.
https://62xFZjQI
Order blocks drawn as shaded boxes extended to the right on a 4h Bitcoin chart.
WHAT YOU'LL SEE ON THE CHART
https://OXJRFoJj
The same indicator on a 4h Ethereum chart, with two bearish blocks above price.
BEST FOR
This indicator draws and labels price structure rather than reporting a single event type, so no market or timeframe group is singled out. It was not measured, and it reads the candles of whatever chart it is placed on.
ALERTS
LIMITATIONS
The script reads the candles of the chart it is placed on, so results on non-standard chart types differ from results on regular candles. Swing points are known only after the chosen number of bars has passed, so swing-based items appear with that delay. It is a drawing and labelling tool, not a forecast. It is weaker in these situations:
OPEN SOURCE
The source code is open. This script is one module of the author's own larger ICT toolkit, published here on its own so it can be read, checked and reused under the Mozilla Public License 2.0.
ACCESS
Free, open-source script.
DISCLAIMER
This indicator is a technical analysis tool, not investment advice. The author is not a registered investment adviser, broker or dealer. Nothing here is a recommendation to buy, sell or hold any instrument. What you see on the chart is the output of a calculation you configured. Any decision you take from it is yours. Past behaviour of an indicator — including anything you observe in historical bars or in a backtest, which is a simulation — does not indicate future results. Trading carries a real risk of loss, including your entire capital. Charting uses TradingView® technology. TradingView is unaffiliated with the author. For educational purposes only. Not investment advice.
ICT Order Block marks the last opposite candle before a strong, one-sided move. A bullish order block is the last down candle before a strong up candle, and a bearish order block is the last up candle before a strong down candle. The block is drawn as a box that extends to the right, and it is faded once price has traded back into it. Optional filters and a breaker block option are included.
HOW IT WORKS
A displacement is a candle whose body is at least a chosen multiple of the average true range. When a bullish displacement appears, the indicator looks back for the last bearish candle before it and draws its range as a bullish order block. A bearish displacement is the mirror. The block can be built from several consecutive candles of the same direction. Optional filters accept a block only if the displacement also left a fair value gap, only if a break of structure or a change of character occurred just before it, or mark it weak if most candles after it are inside bars or dojis. Optional body refinement draws a second, filled box from body to body. A block is mitigated the first time price trades into it, measured on the close or on the wick, and is then faded or hidden. A block that price breaks through can be turned into a breaker block, the same box in the opposite direction. Blocks are tracked for a chosen number of bars.
https://62xFZjQI
Order blocks drawn as shaded boxes extended to the right on a 4h Bitcoin chart.
WHAT YOU'LL SEE ON THE CHART
- Order blocks — shaded boxes extended to the right, in the bullish or bearish colour, labelled OB.
- Body boxes — with refinement on, a dashed outer box wick to wick and a filled inner box body to body.
- Faded blocks — mitigated or weak blocks shown faded, or hidden.
- Breaker blocks — boxes with dashed borders for blocks that price broke through.
- Dashboard — a small table with the count of active bullish and bearish blocks.
https://OXJRFoJj
The same indicator on a 4h Ethereum chart, with two bearish blocks above price.
BEST FOR
This indicator draws and labels price structure rather than reporting a single event type, so no market or timeframe group is singled out. It was not measured, and it reads the candles of whatever chart it is placed on.
ALERTS
- Bullish Displacement
- Bearish Displacement
- Bullish OB Mitigated
- Bearish OB Mitigated
- Bullish Breaker Formed
- Bearish Breaker Formed
LIMITATIONS
The script reads the candles of the chart it is placed on, so results on non-standard chart types differ from results on regular candles. Swing points are known only after the chosen number of bars has passed, so swing-based items appear with that delay. It is a drawing and labelling tool, not a forecast. It is weaker in these situations:
- Quiet markets with few strong candles, where few blocks form
- Very strong trends, where many blocks form in a row
- Breaker blocks, which form mainly when a single bar passes right through a block, since a block counts as mitigated the first time price enters it
- Soft confirmation, which needs the midpoint touch and the exit in the same bar to complete
OPEN SOURCE
The source code is open. This script is one module of the author's own larger ICT toolkit, published here on its own so it can be read, checked and reused under the Mozilla Public License 2.0.
ACCESS
Free, open-source script.
DISCLAIMER
This indicator is a technical analysis tool, not investment advice. The author is not a registered investment adviser, broker or dealer. Nothing here is a recommendation to buy, sell or hold any instrument. What you see on the chart is the output of a calculation you configured. Any decision you take from it is yours. Past behaviour of an indicator — including anything you observe in historical bars or in a backtest, which is a simulation — does not indicate future results. Trading carries a real risk of loss, including your entire capital. Charting uses TradingView® technology. TradingView is unaffiliated with the author. For educational purposes only. Not investment advice.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.