ICT MTF Order Block Wicks

The ICT MTF Order Block Wicks indicator identifies institutional order blocks based on the ICT trading methodology and projects their wick areas as potential support and resistance zones. By plotting these levels specifically to the right side of the current price, the tool maintains a clean chart environment while highlighting high-probability reaction areas across multiple timeframes.

Usage

The script is designed for multi-timeframe (MTF) analysis, allowing traders to see higher-timeframe order block levels on lower-timeframe charts. For example, a trader using a 15-minute chart can display order blocks from the 1-hour or 4-hour timeframes to identify institutional interest zones that might otherwise be invisible.

The indicator focuses on the wick area of the order block candle, as price frequently reacts to these "liquidity pockets" before reversing or continuing a trend. Users can toggle specific timeframes (5m, 10m, 15m, 30m, 1h, 4h, 8h, 12h, Daily, Weekly, Monthly) and customize the visual output to differentiate between bullish and bearish zones.

Details

This tool identifies order blocks where a specific candle is "broken" by a subsequent impulsive move (Market Structure Shift or Break of Structure logic). Unlike standard OB indicators that highlight the entire candle body, this script focuses on the extremities (wicks), which often represent the final price manipulation before a move.

Key implementation details include:

• MTF Compatibility: Only timeframes higher than the current chart resolution can be displayed to maintain technical relevance.
• Visual Optimization: Boxes are projected to the right of the price using an offset, preventing chart clutter.
• Mitigation Logic: The script can track if price has entered the zone, with an optional setting to change the color once the order block has been "tested."

Settings

General Settings

• Timezone offset: Adjusts the label timestamps to match your local time.
• OB Offset to Right: Determines how far to the right the labels and boxes are projected.
• Change OB Color On Entry: When enabled, the zone will change color once price interacts with it.

Enabled Timeframes

• 5 Minute - Monthly: Toggle switches to enable or disable specific timeframe calculations.

Max OB Settings

• Max OBs (per timeframe): Defines the maximum number of boxes the script will store for each timeframe. The combined total across all timeframes must be under 500.

Colors

• Order Block Fill Colors: Individual color pickers for bullish and bearish zones to suit different chart themes.

FAQ

How do I interpret the boxes on the right? The boxes represent the price range of the higher-timeframe order block wicks. When price approaches these levels, look for lower-timeframe confirmations for potential entries.

Why are some timeframes not appearing? The indicator only shows timeframes that are higher than your current chart interval. If you are on a Daily chart, you will not see 4-hour order blocks.

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