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HTF Rejection Blocks (RB) v2 [louis]

Overview
HTF Rejection Blocks is a price action tool designed to automatically identify and visualize areas of significant market rejection. By analyzing candle wicks relative to their bodies and historical volatility, this indicator highlights zones where institutional buying or selling pressure has occurred.

Unlike standard support and resistance indicators, this script focuses specifically on wick rejection, which often signals where price failed to sustain a move due to a wall of opposing orders.

How It Works

The script utilizes a percentile based ranking system. It analyzes the upper and lower wicks of the most recent candles and compares them to the lookback period.
Bearish Zones: Created when an Upper Wick is significantly larger than the average, indicating sellers pushed price down aggressively.
Bullish Zones: Created when a Lower Wick is significantly larger than the average, indicating buyers stepped in to reverse the price.
Once a zone is identified, it draws a box extending to the right until price closes beyond the zone, mitigating/invalidating it.

Key Features
1. Multi-Timeframe (MTF) Dashboard

Monitor higher timeframe structures without leaving your current chart. The script allows you to configure up to 4 distinct timeframes simultaneously.
Example: You can view 15m, 1H, and 4H wick zones while trading on a 1m chart.
Each timeframe has independent Bull/Bear color settings and toggle controls.

2. Smart Filtering (Advanced Options)

Reduce noise and focus on high-probability setups using the built-in filters

3. OTE Fib Levels

Automatically plots Optimal Trade Entry (OTE) Fibonacci levels inside every active zone.
Includes customizable levels: 0.50, 0.62, 0.705, and 0.79.
Useful for precision entries upon a retest of the wick.

4. Zone Management

Live Invalidation: Zones are automatically removed when price closes outside the wick range.
Mitigated Zones: Option to leave a faint "ghosts" of broken zones to see historical reaction points.
Wick Highlighting: Optional outline around the specific candle that created the zone for visual clarity. Helpful for HTF zones.

Settings Guide
Zone Settings

Highlight Wick: Toggles the border outline of the candle that generated the zone.
Mitigated Zones: If checked, broken zones remain on the chart as faint gray boxes (Ghosting).

Timeframe Configuration

Enable/Disable: Use the checkbox to turn specific timeframes on or off.
Timeframe Selector: Choose the specific TF (e.g., 15m, 4H, D).
Colors: Customize the Bull (Support) and Bear (Resistance) colors for each timeframe to distinguish them easily.

OTE Fib Levels

Enable retracement levels to appear inside the zones.

Advanced Options

Experimental Filtering: Enables the RSI and minimum spacing logic to filter out weaker signals.
Calculated Bars Count: specific how far back the script processes data (lower numbers improve performance).

Phát hành các Ghi chú

updated chart image to show example usage

Phát hành các Ghi chú

Upgraded default historical bar lookback value

Phát hành các Ghi chú

Bugfix for overlapping rejection blocks not getting invalidated
Optimized performance

Phát hành các Ghi chú

Changed some default values again

louisq69

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louisq69