Order Blocks Screener

The Order Blocks Screener indicator provides a multi-ticker dashboard designed to identify and track the latest order blocks across up to five different assets. It helps traders monitor supply and demand zones, their retest frequency, and relative volume strength in real-time, streamlining the analysis of multiple markets simultaneously.

Usage

The indicator displays a table on the chart showing the status of order blocks for your selected tickers. Each entry in the screener provides:

• Status: Indicates whether the price is currently "Inside" the zone, "Approaching" it (with directional arrows), or "Far" away.
• Retests: Counts how many times the price has entered the zone without invalidating it. A higher retest count may indicate a weakening or highly respected zone depending on your strategy.
• Bullish/Bearish Volume: Displays volume data associated with the formation of the order block to help assess the potential strength of the zone.

You can use the Zone Invalidation setting to decide if a zone is cleared when a "Wick" touches the opposite side or only on a "Close" price.

Details

Order blocks represent price ranges where a significant amount of market orders have been placed. This tool identifies these zones using specific price formations based on swing highs and lows. The strength of these blocks is partially determined by volume:

• Bullish Order Block: The volume is calculated using the total volume of the last two bars versus the volume of the oldest bar in the formation.
• Bearish Order Block: Similar logic is applied where the low volume typically encompasses the last two bars of the formation.

The screener is optimized to handle different timeframes for each ticker, allowing for a comprehensive overview of market structure across various asset classes or intervals.

Settings

• Tickers: Configure up to five symbols and their respective timeframes for scanning.
• Zone Invalidation: Choose between "Wick" or "Close" to determine when an order block is no longer valid.
• Swing Length: Sets the lookback period for finding swing formations. Smaller values identify more frequent, smaller order blocks, while larger values focus on major structural zones.
• Style: Customize the screener's position (e.g., Top Right, Bottom Center) and color scheme for bullish and bearish zones.

FAQ

How do I use the Order Blocks Screener? Select your desired tickers in the settings and monitor the dashboard for "Inside" or "Approaching" statuses to find potential entry or exit points near significant supply/demand zones.

Can I monitor different timeframes for each ticker? Yes, each of the five ticker slots allows for an individual timeframe setting, enabling you to see 1-hour order blocks for one asset and daily order blocks for another on the same chart.

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