OPEN-SOURCE SCRIPT
Order Block & Fractal Zones (OBFZ) Indicator.
The "Order Block & Fractal Zones (OBFZ) Indicator." indicator is a technical analysis tool designed to identify and display key price levels on a chart. It utilizes the concept of Order Blocks and the Fractal Value Zone (FVG) to highlight potential support and resistance areas in the market.
The indicator marks bearish and bullish Order Blocks, which are significant price structures characterized by consecutive higher highs and higher lows for a bearish block, or consecutive lower lows and lower highs for a bullish block. These blocks suggest potential areas of market reversal.
Additionally, the indicator calculates and displays retracement and extension levels within each Order Block. These levels are derived from the previous highest and lowest values within a specified number of candles. The retracement levels include 38.2%, 50%, and 61.8%, while the extension levels include 138.2%, 150%, and 161.8%.
Furthermore, the Fractal Value Zone (FVG) is determined to identify the highest high and lowest low within the selected number of candles. The FVG helps identify areas of significant price action and potential breakout zones.
Overall, the "Order Block & Fractal Zones (OBFZ) Indicator." indicator assists traders in identifying potential support and resistance levels, as well as areas of market reversal or breakout. It can be used to make informed trading decisions based on key price levels within the observed price action.
The indicator marks bearish and bullish Order Blocks, which are significant price structures characterized by consecutive higher highs and higher lows for a bearish block, or consecutive lower lows and lower highs for a bullish block. These blocks suggest potential areas of market reversal.
Additionally, the indicator calculates and displays retracement and extension levels within each Order Block. These levels are derived from the previous highest and lowest values within a specified number of candles. The retracement levels include 38.2%, 50%, and 61.8%, while the extension levels include 138.2%, 150%, and 161.8%.
Furthermore, the Fractal Value Zone (FVG) is determined to identify the highest high and lowest low within the selected number of candles. The FVG helps identify areas of significant price action and potential breakout zones.
Overall, the "Order Block & Fractal Zones (OBFZ) Indicator." indicator assists traders in identifying potential support and resistance levels, as well as areas of market reversal or breakout. It can be used to make informed trading decisions based on key price levels within the observed price action.
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Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.