TOB (True Order Blocks)

The TOB (True Order Blocks) indicator identifies session-specific order blocks formed by liquidity sweeps, providing traders with precise zones for intraday execution.

Usage

The TOB (True Order Blocks) indicator can be used to identify key institutional levels during the Asian, London, and New York trading sessions. By tracking the highest and lowest liquidity sweeps within these specific time windows, the tool highlights zones where price is likely to react.

Traders can use the identified boxes as potential entry points:

• Bullish OB: Look for long opportunities when price returns to a zone formed by a low sweep followed by a close above the previous candle's low.
• Bearish OB: Look for short opportunities when price returns to a zone formed by a high sweep followed by a close below the previous candle's high.

The mid-line (50% level) of each box acts as a refined point of interest for "mean threshold" entries, often used to minimize risk.

Details

The script executes based on a "Liquidity Sweep" logic tailored to session extremes. Unlike standard order block indicators that may look for any engulfing pattern, this script specifically looks for candles that take out previous candle liquidity (sweep) and fail to hold that level.

Key implementation details include:

• Session Persistence: The indicator resets every session (Asian, London, NY) to ensure only the most relevant, current-day extremes are tracked.
• Dynamic Updating: It tracks only the lowest sweep for bullish OBs and the highest sweep for bearish OBs per session. If a new, more extreme sweep occurs, the previous block for that session is replaced.
• Time-Zone Adjustment: Users can adjust the ET UTC offset to ensure session times align correctly with their local time or daylight savings changes.

Settings

🔧 Settings

• Extend Box (bars right): Determines how many bars into the future the order block zones will project.
• Show 50% Midline: Toggles the visibility of the dashed line representing the equilibrium of the order block.
• Show OB Labels: Toggles the text labels ("Bull OB" / "Bear OB") on the chart.

🕐 Sessions

• ET UTC Offset: Adjusts the script to match Eastern Time (default -4 for DST, -5 for Standard).

🎨 Colors

• Bull OB Fill/Border: Customizes the visual appearance of bullish liquidity zones.
• Bear OB Fill/Border: Customizes the visual appearance of bearish liquidity zones.

FAQ

How do I use the session-specific boxes?

The boxes represent areas where "smart money" has potentially entered the market after clearing retail liquidity. These are high-probability zones for "in the moment" executions or limit orders.

Can I change the session times?

The current version has hardcoded session times for Asian (8 PM – 12 AM ET), London (2 AM – 5 AM ET), and New York (9:30 AM – 12 PM ET) to capture peak volatility.

How can I access TOB (True Order Blocks)?

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