today a new powerful indicator! Welcome to the great world of Breaker Blocks (BB) and Supply-Demand Order Blocks!
So what's the point? As always, the point is how to trade as safer as possible!
Breaker Blocks are price ranges where you simply have to wait for a pullback and sell-buy on its touch and price bounce, like in the screenshot below:
Supply and Demand are very important concepts, synonymous of Support and Resistance in most cases.
You should never sell whenever near a demand/ , unless price breaks through it as too weak. The same for supply/resistance: you should not buy near resistance, as most times you may start a trade with very high losing risk.
Here a screenshot how indicator works showing order blocks (just enable them from indicator's option):
- can analyze chart based on high-low candle prices or open-close one
- can show you Breaker Blocks (BB)
- can show you Order Blocks (OB)
- lets you decide if you want to see high-low or open-close range of each OB
- lets you edit the analysis window
- lets you see local tops and bottoms of price as labels
This is a premium indicator, so send me a private message in order to get access to this script.
Now it highlights more Breaker Blocks (BB) than before!
- easier to spot supply/demand zone, as you can choose to highlight only important levels (high/low, close prices) for supply & demand Order Blocks (OB)
- easier to spot breaker blocks zone, for the same reason: draw only the most important levels
- easier to change lines' color
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