The OrderBlocks.All-in-One Indicator for MT4/MT5 identifies and plots unmitigated, mitigated, and breaker order blocks on the chart. It offers a clear view of market structure by displaying these blocks as colored rectangular areas with labels, helping you identify potential reversal and continuation zones.

Order Blocks were originally introduced by the ICT community and have since become a popular concept in forex trading. Essentially, Order Blocks function similarly to traditional support and resistance levels, forming at the highs and lows of price swings. The same trading principles apply: traders expect the price to either bounce off these levels or, if broken, to retest and continue in the same direction. Despite being based on an old forex concept, this indicator remains highly relevant and effective.

All in one?

During the development of this indicator, we realized that the three common types of order blocks are simply different states of a single order block. Therefore, we opted to create an all-in-one indicator instead of separate indicators for each type.

So, the indicator includes the following three types of order blocks:

  • Unmitigated Order Blocks are zones which the price has not touched yet.
  • Mitigated Order Blocks are zones that have been touched by the price but not fully covered.
  • Breaker Order Blocks are zones where the price has fully covered the height of the order block.

These order blocks are displayed as rectangular areas on the chart, each labeled according to their type.

Also, different colors are used to distinguish between the types of order blocks, and the forming order block candle is also highlighted with a specific color.

How the Order Block is identified

Order Block zones are determined by identifying a specific candle. The height of the block is equal to the height of this candle.