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MT4 Order Blocks Indicator is a smart money indicator that displays institutional or large volume traders who have placed their orders, so-called order block. Let’s dive into the intricacies of the Order Block Indicator specifically tailored for MT4 charts and see how it can bolster trading tactics.

What are Order Blocks?

Order Blocks represent crucial areas on a chart where institutional or large-volume traders have placed their orders. Think of these as the ‘footprints’ left behind by smart money. When the price returns to these regions, there’s an opportunity for traders to hitch a ride on the powerful moves initiated by these major players.

The most potent order blocks typically exhibit the following characteristics:

  1. They take liquidity by triggering stops of retail traders, an activity often referred to as a ‘stop hunt.’
  2. Post the liquidity grab, the price moves away assertively, often in a sharp and unidirectional manner.
  3. This aggressive move creates a market imbalance, leading to a Fair Value Gap (FVG) owing to the large volume embedded in the shift.

For traders analyzing order blocks, the essential questions to ponder include:

  • Did the price first take liquidity?
  • Was there a robust price movement that created an FVG?

Once the price reapproaches an order block, it usually reacts around the open or the mid-point (50% level or equilibrium) of the defining candle. Aligning these observations with higher timeframe analyses, such as market structures, order flow, and liquidity targets, can make trading decisions based on order blocks even more potent.

This Smart Money Indicator isn’t a standalone trading indicator System. Still, it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live. You can open a real or demo trading account with most Forex brokers.

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You can set this MT4 Order Block to send you a signal alert via email, SMS, or platform pop-ups. This is helpful as it means you do not need to stare at the charts all day, waiting for signals to appear, and you can monitor multiple charts simultaneously.

Order Blocks Indicator Indicator can be used on any Forex currency pair and other assets such as stocks, commodities, cryptos, precious metals, oil, gas, etc. You can also use it on any time frame that suits you best, But it works best on M5, M15, and M30.

No Minimum Deposit
ECN Acount
No Commission

Min Deposit of 20$
Allow USA Traders
Levergae up to 1:500

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Introducing the MT4 Order Block Indicator

With a multitude of indicators available, what makes this MT4 Order Block Indicator stand out? Its uniqueness lies in its custom-coded algorithm that can smartly differentiate between different kinds of order blocks and offer real-time alerts. Here are its stellar features:

  • Diversity in Display: The indicator showcases both bullish and bearish order blocks. Traders have the flexibility to display only one type if they wish.
  • Intelligent Highlights: The Order Blocks Indicator is adept at signifying the difference between mitigated and unmitigated order blocks, updating visual highlights accordingly.
  • Customization: Users can display all candles within an order block or just the final one. Additionally, there’s a choice between highlighting the complete candle (with wicks) or the body alone.
  • Adjustability: The tool lets users define how many past candles should be scanned for order blocks. Plus, they can set the length of the order block lines for a clearer visual representation.
  • Sensitivity Settings: This feature aids in filtering out order blocks. Higher sensitivity will show more minor blocks, while a reduced setting will focus on stronger, more prominent blocks.
  • Real-time Alerts: One of the most practical features is the alert mechanism. Whether you’re at your desk or on the go, you can receive notifications via popup, push, or email, ensuring you never miss a significant move.
Input Parameters
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  • Display OB Option – Allows you to display:
    • Both bullish and bearish order blocks
    • Bullish order blocks only
    • Bearish order blocks only
    • Hide all order blocks
  • Look-back Candle Count – Set the amount of candles that this Smart Money Indicator will look back to highlight order blocks
  • Sensitivity – Adjust to highlight more or less order blocks. A higher number will make the indicator algorithm show ‘stronger’ order blocks, and a lower number will show more (less critical) order blocks.
  • OB Line Type – Choose to highlight the order block candle (body) only or to highlight the order block candle body AND its wicks

  • Popup Alert – Alert will trigger the popup window and an alert sound
  • Push Alert – Alert will trigger a message sent to your cell phone
  • Email Alert – Alert will trigger a message sent to your email address

  • OB Line Length, Bars – If set to 0 (zero), the order block lines will extend to the current candle.
  • OB Candle Capture – Choose to highlight all the candles that make the order block (whole OB) or the last candle of the order block only (last candle only)
  • Bull OB line color – Select the color of your choice
  • Bear OB line color – Select the color of your choice
  • OB Line Width – Select the size of the order block lines
  • OB Line Style – Select the style of the order block lines (solid, dot, etc.)
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Conclusion of Order Blocks Indicator

In conclusion, the Order Blocks indicator for MT4 charts offers traders a robust tool to identify, analyze, and act upon the cues provided by the market’s most influential players. Its versatility in display and alert options, combined with its intelligence in distinguishing order block types, makes it a must-have for serious traders aiming to tap into the moves of institutional money.

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