Sonarlab

Order Blocks with signals

In order to trade the order blocks effectively, you have to look for an area on the price chart where the price had a large move. This script automatically draws the order blocks for you, so you don't have to.

Blue OB (supply): search for short opportunities
Green OB (demand): search for long opportunities

Please be aware: Do not buy and sell from every order block.

You can set two types of alerts:
- Buy
- Sell

Some short information about order blocks:
Order blocks are huge institutional buy or sell orders placed over a particular period. During these, the institutional players are looking to build up their positions in the markets.






Release Notes: Updated to PineScript v5

Fixed Alert Bug

Added clearer code comments

Added ability to change OB Colors
Release Notes: Added the option to choose between either closes or wicks as an option for Order Block mitigation

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.

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