About the Order Block Indicator
The Order Block Indicator for MT5 is a widely used trading tool that identifies buy and sell signals using order blocks.
It is displayed in a separate chart window as a series of blue and red blocks to reflect market sentiment.
Blue order blocks indicate bullish conditions, while red order blocks signal bearish momentum.
The indicator is compatible with any trading style and timeframe, making it versatile for scalping, intraday, or swing trading.
Importantly, the blocks do not repaint, ensuring reliable signal confirmation.
Customizable inputs include the number of reversal lines, minimum box size, and the colors for up and down blocks.
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linebreakonchart.mq5 Indicator (MT5)
Key Features
- Blue and red order blocks for clear bullish and bearish signals.
- Blocks do not repaint, providing reliable signals.
- Customizable number of reversal lines and box size.
- Adjustable up and down block colors.
Indicator Chart
The Order Block Indicator appears in the main price chart window as colored blocks.
Blue blocks represent potential buying opportunities, and red blocks represent potential selling opportunities.
Guide to Trade with Order Block Indicator
Buy Rules
- Wait for a blue order block to appear on the chart.
- Open a buy trade at the candle close.
- Enter trades in the direction of the dominant buy trend.
Sell Rules
- Wait for a red order block to appear on the chart.
- Open a sell trade at the candle close.
- Enter trades in the direction of the prevailing sell trend.
Stop Loss
- For buy trades, place the stop loss just below the blue order block.
- For sell trades, place the stop loss just above the red order block.
Take Profit
- Close trades when the opposite colored order block appears (blue → red, red → blue).
- Alternatively, set a fixed pip profit target based on your strategy.
- Another option is to close trades at the next significant support or resistance level.
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linebreakonchart.mq5 Indicator (MT5)
FAQ
What are order blocks in this indicator?
Order blocks are clusters of buying or selling activity.
Blue blocks represent bullish demand zones, and red blocks represent bearish supply zones.
Do the order blocks repaint?
No. Once an order block forms, it remains fixed on the chart.
Which timeframes are best for trading with this indicator?
The indicator works across all timeframes.
Lower timeframes offer faster entries for scalping, while higher timeframes provide more stable setups for swing trading.
Can this indicator be used alone?
Yes. It provides clear buy and sell signals on its own.
Traders may combine it with support/resistance or trend tools for additional confirmation.
Summary
The Order Block Indicator identifies bullish and bearish zones using colored blocks, simplifying the process of spotting trade entries and exits.
With customizable settings, non-repainting signals, and compatibility across all timeframes, it is a reliable tool for both new and experienced traders seeking systematic trade setups.
