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Order Block Breaker Indicator
The order block breaker indicator for MT4 provides essential information on the market structure. The indicator identifies major trend reversal and exhaustion points of momentum. As a result, forex traders can identify Bullish and Bearish price reversal zones and BUY and SELL accordingly. Moreover, the indicator provides alerts whenever a trading signal is available.
An order block is a market structure that is identified as the last Bearish candle before a Bullish price move and vice versa. These order blocks act as support and resistance where traders anticipate the price to reverse its direction. The indicator is well suited for advanced traders. However, new traders may gain knowledge with practice. The indicator works well in all intraday time frames as well as the daily, weekly, and monthly price charts.
Order Block Breaker Indicator For MT4 Trading Signals
The above EURUSD M30 shows the Order Block Breaker indicator for MT4 in action. The indicator draws the Bullish order blocks in NAVY BLUE and Bearish order blocks on MAROON. Furthermore, the indicator alerts by message, sound, and push notifications. These can be input according to the user requirements in the indicator settings.
If the price enters the Bullish order block it indicates the possible price reversal. So, technical traders should look for a BUY entry point based on the price action within the Bullish order block. As the Bullish order block represents strong support all technical indicators and technical trading strategies to validate support apply to the Bullish order block trading. The best stop loss is below the order block or the previous swing low. However, take-profit positions are based on the risk-reward ratio or at the next available resistance.
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