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fluxchart
4. Jan. 2024 19:08

Order Blocks | Flux Charts 

NASDAQ:TSLA240
Tesla, Inc.NASDAQ

Beschreibung

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đź’Ž GENERAL OVERVIEW
Introducing our new Volumized Order Blocks indicator! This new indicator can render order blocks with their volumetric information. It's highly customizable with detection, invalidation and style settings.



Features of the new Volumized Order Blocks [MTF] indicator :
  1. Render Bullish & Bearish Order Blocks
  2. Enable / Disable Volumetric Information
  3. Enable / Disable Historic Zones
  4. Visual Customizability


đź“Ś HOW DOES IT WORK ?
Order blocks occur when there is a high amount of market orders exist on a price range. It is possible to find order blocks using specific formations on the chart.

The high & low volume of order blocks should be taken into consideration while determining their strengths. The determination of the high & low volume of order blocks are similar to FVGs, in a bullish order block, the high volume is the last 2 bars' total volume, while the low volume is the oldest bar's volume. In a bearish order block scenario, the low volume becomes the last 2 bars' total volume.

đźš©UNIQUENESS
The ability to render the total volume of Order Blocks as well as bullish / bearish volume ratio is what sets this Order Block indicator apart from others. Also the ability to combine overlapping Order Block zones will result in cleaner charts for traders.

⚙️SETTINGS

1. General Configuration
Volumetric Info -> The volumetric information of the Order Blocks will be rendered if activated.



Zone Invalidation -> Select between Wick & Close price for Order Block Invalidation.


Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.

Versionshinweise

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  • Fixed a bug that sometimes caused flicker of rendered zones

Versionshinweise

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  • Added zone count setting
  • Improved reliability

Versionshinweise

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  • Added an option to change the text color.

Versionshinweise

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  • Fixed a rare bug happening with bigger candles.
Support and ResistanceVolumeorderblocksorderblockSMCictvolumeanalysisfluxcharts
Kommentare
RozaniGhani-RG
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Juggy...
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Curious to know why this has to repaint even the historical OB's created. Repainting the Historical OB's disturbs the thought process of the order flow and at times very conflicting. Can the historical OB's created stay there ASIS ?
Lynext
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@Juggy..., Would a setting to increase the number of rendered last zones solve your problem ? Because if we render all past zones it will just cause confusion and bloat the chart. If you think such a setting would solve your problem, let me know so we can implement it.
ukmpits
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@Lynext, @fluxchart Sir, please make the order block more adaptive to spike fluctuation..sometimes it repaint on real time chart..thanks mate
Lynext
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@ukmpits, An update is on the way and should solve those kind of repainting. Thank you for the suggestion.
ukmpits
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@Lynext, @fluxchart Sir, this recent update so fabulous...You are the best pine script programmer.. Hats Off!!
I noticed this order block Is not a standing alone indicator..it must be combined with another candlestick analysis..

For instance, would you like to add retest signa? so we can anticipate bull/bear trap.

Thanks mate
ukmpits
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@Lynext, @fluxchart on 244:22 The function 'findOBSwings' should be called on each calculation for consistency. It is recommended to extract the call from this scope

If there Is future Improvement,please update on lines 244:22 Sir..

Thanks mate
Lynext
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@Juggy..., An update is on the way with "Zone Count" feature, After the update is published, can you switch that setting to "High" and let us know if that solves your problem ? Thank you.
Juggy...
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@Lynext, Hi! I missed to notice this update and the comment. Will check adjusting the Zone Count feature to High and will revert soon with feedback. Thank you!
Major_FX_
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How to read volume which is in percentage? The higher it is, the stronger the zone?
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