Pinescriptlabs Store indicators: Pinescriptlabs Store cBots : (cBot) Gold & BTC BreakoutSession Pivots(new)
Advanced Market Structure: Bos, Choch, SwinLevels, Order Blocks, Market Structure & Liquidity Finder (New)
ZigZag Price Liquidity Projection
Trailing Smart Algorithm (new)
Prediction Based on Linreg & ATR
SmartTrend Support &
Resistance
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🟢 Identifying Order Blocks 🔴
**Bullish Order Block 🚀:**
To spot a bullish order block:
- The code checks if the current closing price surpasses the highest point of a previous swing ⬆️.
- If it does and that swing hasn't been crossed yet, it gets marked as crossed. The order block is then defined from the lowest to the highest price in the previous candles 📈.
**Bearish Order Block 🔻:**
- This works similarly but applies to low-price swings.
- A bearish order block is created when the current closing price falls below the lowest point of a swing ⬇️.
### 💼 Order Block Functionality 📊
Order Blocks represent **high-volume accumulation zones** where big market players may have traded significantly
These areas often act as potential support or resistance levels and can signal trend continuation or reversal 📉📈.
- **Support or Resistance:** Broken order blocks might point to relevant support or resistance areas, depending on the previous trend 🔄.
- **Continuation or Reversal:**
- A break of an order block in the opposite direction can indicate a potential reversal 🔄.
- Breaking in the same direction can confirm the continuation of a trend 🔗.
This indicator is powerful for identifying **key levels on charts** 📈, helping traders visualize important areas based on price behavior in high-volume zones. Perfect for spotting trends and market moves! 🎯📊
