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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Dynamic
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Analysis
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Fibonacci
Linear
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๐ข Identifying Order Blocks ๐ด
**Bullish Order Block ๐:**
To spot a bullish order block:
- The code checks if the current closing price surpasses the highest point of a previous swing โฌ๏ธ.
- 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 ๐.
**Bearish Order Block ๐ป:**
- 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 โฌ๏ธ.
### ๐ผ Order Block Functionality ๐
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 ๐๐.
- **Support or Resistance:** Broken order blocks might point to relevant support or resistance areas, depending on the previous trend ๐.
- **Continuation or Reversal:**
- A break of an order block in the opposite direction can indicate a potential reversal ๐.
- Breaking in the same direction can confirm the continuation of a trend ๐.
This indicator is powerful for identifying **key levels on charts** ๐, helping traders visualize important areas based on price behavior in high-volume zones. Perfect for spotting trends and market moves! ๐ฏ๐
