EmreKb

Market Structure Break & Order Block by EmreKb

This indicator shows the market structure break ( msb ) and order blocks (ob). Msb occurs after the breakout old high when the price make lower lows or occurs after the breakout old low when the price make higher highs. OB occurs after the msb , ob is the last bullish candle before high if msb is bearish but if the msb is bullish then ob is the last bearish candle before low.

Zigzag Lenght - A number for the zigzag calculation
Show Zigzag - Show/Hide Zigzag lines
Fib Factor - Fib level for the breakout confirmation. For example if new high larger than old high to low fib 1+fib_factor when the down trend then it's a breakout.
Release Notes: Added breaker and mitigation blocks. Breaker and mitigation blocks are the block in the low area formed before last high. Last bearish candle for bearish and last bullish candle for bullish are mitigation or breaker blocks.
Release Notes: Added display settings
Release Notes: Changed some default values
Release Notes: - Copy Paste bug fixed :)
- Added alert to msb
Release Notes: Some Bug Fixed
Release Notes: - The bug that caused the alarm delay has been fixed. (MSB)
- Added timeframe option. You can only select current timeframe or higher timeframe. Zigzag only shows in current timeframe.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?