Breaker Blocks Screener

The Breaker Blocks Screener tool provides real-time information about the latest breaker blocks across up to five different tickers. It allows traders to monitor failed order blocks, their subsequent retests, and breaking volume to identify potential market reversals or trend continuations from a single dashboard.

Usage

The screener displays a dashboard on your chart containing critical data for selected assets. Traders can use it to identify:

• Status: Indicates whether the current price is "Far" from a breaker block, "Approaching" (with direction), or "Inside" the zone.
• Retests: Counts how many times the price has entered the breaker block zone without invalidating it, which can signal the strength of the level.
• Volume: Displays the volume of the bar that initially broke the order block; higher volume typically suggests a more significant breaker block.

Details

Breaker blocks are formed when an order block fails (is "broken" by price action). For example, a bullish breaker block occurs when a bearish order block is broken to the upside. This script automates the detection of these zones by tracking order blocks and identifying the exact point of invalidation. The screener aggregates this data for up to five user-defined symbols and timeframes, providing a centralized view of price action across multiple markets.

Settings

Tickers

• Ticker 1-5: Enable or disable specific tickers and set their individual symbols and timeframes for scanning.
• Please only select timeframes...: A warning label to ensure the selected timeframe is not lower than the current chart timeframe to maintain data integrity.

General Configuration

• Order Block Invalidation: Choose between "Wick" or "Close" to determine when an order block is considered broken.
• Breaker Block Invalidation: Choose between "Wick" or "Close" to determine when a breaker block is no longer valid.
• Swing Length: Defines the lookback period for finding order block formations. Smaller values detect more frequent, smaller zones, while larger values find more significant institutional zones.

Style

• Position: Adjust where the screener dashboard appears on the chart.
• Fill Backgrounds: Toggle the background visibility of the dashboard cells.
• Colors: Customize the colors for the background, bullish zones, and bearish zones.

FAQ

How do I interpret the "Status" column? The status column tells you the proximity of the price to the breaker zone. "Approaching" means the price is nearing the zone from above or below, while "Inside" means the price is currently trading within the breaker's range.

What does the "Retests" count signify? A retest occurs when the price returns to the breaker block zone but fails to break through the invalidation level. A higher number of retests can indicate a level that the market is respecting.

How can I access this screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.