Preset - Orderblock focus
🧱 Overview
The Order Block functionality in this script helps traders identify and visualize significant supply and demand zones where major market participants may have placed orders.
These order blocks often act as key support and resistance levels that can influence future price action.
🧩 Key Features
🔍 Order Block Detection
The script automatically identifies potential order blocks based on price action and volume patterns. An order block typically forms when:
There's a strong, impulsive move in one direction
This move is preceded by a consolidation or reversal area
The area shows significant volume or a notable imbalance between buyers and sellers
📦 Order Block Visualization
Order blocks are displayed as boxes on your chart:
Bullish Order Blocks (demand zones): Displayed as green boxes, indicating potential support areas
Bearish Order Blocks (supply zones): Displayed as red boxes, indicating potential resistance areas
📈 Order Block Strength Rating
Each identified order block is assigned a strength rating based on several factors:
Volume within the block
Size of the impulsive move following the block
Time elapsed since the block formed
Whether the block has been tested before
⚙️ Display Settings
Bullish Block Color: Color for demand zones (bullish order blocks)
Bearish Block Color: Color for supply zones (bearish order blocks)
Block Transparency: Controls the opacity of order block highlighting (0–100%)
Show Strength Labels: Toggle to display or hide strength ratings on blocks
🧠 Block Filtering
Minimum Block Age: Only shows blocks that formed at least X bars ago
Maximum Block Age: Only shows blocks that formed within the last X bars
Filter by Volume: When enabled, only shows blocks with above-average volume
Smart Filtering: When enabled, automatically removes blocks that have been invalidated
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