mrD-Smart Ranges aims to offer a complete strategy based on Order Blocks. Ranges signals based on order volume are highlighted, from which smart ranges are suggested to provide potential entries.
This script also includes warnings for each signal marked.
🔶 SETTINGS
Pair Strategy: Select the desired from the list. Change the chart to the one specified in the Strategy. Current TF Order Blocks: Allows the user to select how many most recent Internal Order Blocks appear in the current time frame on the chart. Order Block Filter: Allows the user to select how the script mitigates an Order Block. Hide Overlap: Allows the user to display overlapping Order Blocks. Show Metrics: Allows the user to display volume % metrics within the Order Blocks. Show Volume Box: Allows the user to display buy/sell activity within Order Blocks. High Timeframe: Allows the user to choose a higher or lower timeframe to find the Signals. Show Failed Buy Sell: Allows the user to display the Signals. Show HTF Box: Allows the user to display a higher or lower timeframe Order Blocks.
🔶 DETAILS Order blocks are formed after a slight bearish order block, these can provide an opportunity to change polarity, thus acting as a potential support/resistance level. A retest/retrace on the order block, combined with order volume between the current timeframe and from the higher timeframe will establish the conditions for smart ranges are suggested to provide potential entries.
🔶 USAGE mrD-Smart Ranges aims to provide users with a minimalistic screen next to the optimal ranges to keep in mind to find trading setups as shown below. Here we can see a suggested Sell range and display a label to confirm this range Signal(s) that can be used for potential entries only during range retest are order blocks. Users can search for more potential entry ranges based on larger timeframes in the settings: High Timeframe
In the image above, we can see that the price has generated potential orange and bearish entry signals. A confirmation signal with a red label is displayed on the chart when the price retests the Sell range.
Note: While range retests can still work well if they occur later in price action, it's best to look for signals only when price retests the range at the outset rather than retesting it. second price.
The logic of generating signal ranges using different rules is described below: - Define order blocks in the current timeframe. - Define the order blocks with the largest volume in the current timeframe. - Define order blocks in larger timeframes in High Timeframe settings - Define order blocks with the largest volume in larger timeframes in High Timeframe settings
Entry Range: The combination of the highest volume order blocks in the current timeframe and the highest volume order blocks in the larger timeframe.
🔶General disclaimer: Trading stocks, futures, forex, options, ETFs, cryptocurrency, or any other financial instrument has huge potential rewards and risks. You must be aware of the risks and willing to accept them to invest in stocks, futures, forex, options, ETFs, or cryptocurrencies. Don't trade with money you can't afford to lose. This is not an offer or an offer to Buy/Sell stocks, futures, Forex, options, ETFs, cryptocurrencies, or any other financial instrument. Do not represent that any account will or is likely to achieve profit or loss of any kind. The past performance of any trading system or method is not necessarily indicative of future results. My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!