Institutional OrderBlock Pressure
█ OVERVIEW
OrderBlocks are areas where Banks take a Short or Long position. So they create a movement that they would like to hide from us, but luckily for us they cannot. Take the example of Banks opening Short position for x reason. The Trend is already Bearish. The Price will fall and then make a Reversal
(most often to the price where they opened their positions) and it is at this precise moment that they will again resume a Short position twice as
large because for the moment, following this example it is not in their interest that the Price exceeds a certain Price since they are Seller.
As a result they create a solid Resistance (the strongest it is). There are several ways to interpret this logic, we can try to follow the movement of Banks
or on the contrary take advantage of the recovery of the course. Note that not having level 2 and access to the order book from TradingView we can only
make a rough estimate of the "OrderBlocks" through VPOC.
█ HOW TO INTERPRET?
• The Labels displayed by "Red Arrow" and "Green Arrow" represent supposed Bearish or Bullish OrderBlock. Note that you should not in any way interpret these "Arrows" as Signals to Buy or Sell for the reasons mentioned above.
• The OB Line works according to detected OrderBlock Candle. These lines indicate the potential recovery area. (The highlighted lines and candles are white by default).
• It is better to use this indicator on Higher TimeFrame like 2H or 4H.
• You can change the Volume Ratio (here VPOC) which is 89 by default.
• There is a Customization section that allows you to change the colors of the Lines and Candles from White to Black depending on your background color (Light or Dark).
• YES the indicator is Repainting and YES you can have False Alerts since Labels appear in intra-bar!
█ ALERTS
• In fact we don't really need Alerts for the logic of this indicator except maybe to get the Price of the last OB Detected and to keep this price in your Alert History and may use it later. Some improvements will come in future with updates and we have already planned to add Alerts when a "Line Cross" gone occur.
If you notice any bugs or if you have any suggestions, don't be hateful gangs ;)
Happy trading everyone and remember, risk management is the most important!
OrderBlocks are areas where Banks take a Short or Long position. So they create a movement that they would like to hide from us, but luckily for us they cannot. Take the example of Banks opening Short position for x reason. The Trend is already Bearish. The Price will fall and then make a Reversal
(most often to the price where they opened their positions) and it is at this precise moment that they will again resume a Short position twice as
large because for the moment, following this example it is not in their interest that the Price exceeds a certain Price since they are Seller.
As a result they create a solid Resistance (the strongest it is). There are several ways to interpret this logic, we can try to follow the movement of Banks
or on the contrary take advantage of the recovery of the course. Note that not having level 2 and access to the order book from TradingView we can only
make a rough estimate of the "OrderBlocks" through VPOC.
█ HOW TO INTERPRET?
• The Labels displayed by "Red Arrow" and "Green Arrow" represent supposed Bearish or Bullish OrderBlock. Note that you should not in any way interpret these "Arrows" as Signals to Buy or Sell for the reasons mentioned above.
• The OB Line works according to detected OrderBlock Candle. These lines indicate the potential recovery area. (The highlighted lines and candles are white by default).
• It is better to use this indicator on Higher TimeFrame like 2H or 4H.
• You can change the Volume Ratio (here VPOC) which is 89 by default.
• There is a Customization section that allows you to change the colors of the Lines and Candles from White to Black depending on your background color (Light or Dark).
• YES the indicator is Repainting and YES you can have False Alerts since Labels appear in intra-bar!
█ ALERTS
• In fact we don't really need Alerts for the logic of this indicator except maybe to get the Price of the last OB Detected and to keep this price in your Alert History and may use it later. Some improvements will come in future with updates and we have already planned to add Alerts when a "Line Cross" gone occur.
If you notice any bugs or if you have any suggestions, don't be hateful gangs ;)
Happy trading everyone and remember, risk management is the most important!
הערות שחרור:
-Minor fix.
הערות שחרור:
-Updated tooltip.
הערות שחרור:
-Added Upper Line for Bullish OB and Lower Line for Bearish OB. Represented in dotted line they allow to have more confirmation of trend recovery.
-Minor fix.
-Code Cleaning.
-Minor fix.
-Code Cleaning.
הערות שחרור:
Uups, in the last update i forgot to mention theses additional lines are statics cause they are on a ratio factor of 25 and they are static to allow a better balance and more confirmations and information on OrderBlocks. I added a Input in settings to hide these additional lines if you want it. They are hidden by default.
הערות שחרור:
-Code Cleaning.
-Well done.
-Well done.
הערות שחרור:
-Removed "Additional Lines" and added Full OB Zones instead without static lines. So you can adjust the Volume Ratio and it will takes effect on these lines as well.
הערות שחרור:
-Code Cleaning.
הערות שחרור:
-Code Cleaning.
הערות שחרור:
-Background Tyoe Setting has been changed to "Light" by default.
הערות שחרור:
-Minor improvement.
הערות שחרור:
-Code cleaning.
הערות שחרור:
-Added PVT (Price-Volume-Trend) Trendline.
הערות שחרור:
-Minor improvement.
הערות שחרור:
-Removed PVT Trendline following request of many users cause it was not enough usefull and to let the chart more cleaner.
הערות שחרור:
-Added possiblity to set lines on wick or not. Disabled by default.
הערות שחרור:
====== ! Huge Update ! ======
-Completely changed algorithm which now works by being based on Price Action and work much better than before. You still have the choice to use volumes in addition to Price Action. As a result, new settings and change are also appearing :
-You can use the indicator even where Volume Market Data is not available now!
-You can use any timeframe you want.
-Settings and Advanced Settings are separated in different sections now.
-Volume Ratio has been set on 6 by default since we do not using 0.618 Pivot anymore here.
-Engulfement Size is the Size in percentage to detect a Engulfement Candle.
-Pin Bar Tolerance corresponds to the percentage value of the Pin Bar to be considered.
-Pin Bar Wick Size corresponds to the Size of the Wick as a percentage.
If you encounter any bugs or have any suggestions, as usual, don't hesitate!
-Cheers
-Completely changed algorithm which now works by being based on Price Action and work much better than before. You still have the choice to use volumes in addition to Price Action. As a result, new settings and change are also appearing :
-You can use the indicator even where Volume Market Data is not available now!
-You can use any timeframe you want.
-Settings and Advanced Settings are separated in different sections now.
-Volume Ratio has been set on 6 by default since we do not using 0.618 Pivot anymore here.
-Engulfement Size is the Size in percentage to detect a Engulfement Candle.
-Pin Bar Tolerance corresponds to the percentage value of the Pin Bar to be considered.
-Pin Bar Wick Size corresponds to the Size of the Wick as a percentage.
If you encounter any bugs or have any suggestions, as usual, don't hesitate!
-Cheers
הערות שחרור:
-Added 0.618 Pivot in equation for Volume with a workaround.
-Disabled "Full Zones" option by default.
-Minor improvement.
-Disabled "Full Zones" option by default.
-Minor improvement.
הערות שחרור:
-Minor fix.
-Take a beer :)
-Take a beer :)
הערות שחרור:
-Minor improvements.
הערות שחרור:
-Following the request of many users we're going back to the old algorithm. Like you want guys 🤷♂️
הערות שחרור:
-Readjusted settings.
-Removed possibility to not highlight OB Candles cause this is an basis option from the indicator.
-Labels is Disabled by default.
-Removed possibility to not highlight OB Candles cause this is an basis option from the indicator.
-Labels is Disabled by default.
הערות שחרור:
-Labels is back again by default following the request of a user who suggest me to let Labels enabled by default cause this permit to better see OB when chart is unzoomed. I like the way you take care of report me idea and feeds; Thanks a lot!
הערות שחרור:
-Added a "Offset" option with a gap of 6 candles by default which is the best setup to find OB. 0 Value = Disabled.
-Code Cleaning.
-Code Cleaning.
הערות שחרור:
-Minor fix.
הערות שחרור:
FINAL UPDATE OF THE WEEK
-Done.
-Done.
הערות שחרור:
I know what you're thinking, what? Another update when yesterday I said it was the last of the week? Indeed ! But this is for the good of the community. When I launched the new version some people asked me to go back to the old one, which I did not really understand why since I know the new algorithm is better. But I finally understood why and that's why today there is this exclusive update. We have tried to simplify the settings as much as possible and to satisfy everyone. So we summarize:
-The new version no longer works with volumes but with Price Action (which will also allow you to be able to use the indicator where volume data is not available.
-Settings and Advanced Settings are separated in different sections now.
-Engulfement Size is the Size in percentage to detect a Engulfement Candle.
-Pin Bar Tolerance corresponds to the percentage value of the Pin Bar to be considered.
-Offset is how many candles must be counted to consider an OB as valid (5 by default).
Thanks again to everyone for your feedback and those who have followed me from the start know that I work hard to keep everyone happy.
Hoping that this update will satisfy the greatest number!
Cheers
-The new version no longer works with volumes but with Price Action (which will also allow you to be able to use the indicator where volume data is not available.
-Settings and Advanced Settings are separated in different sections now.
-Engulfement Size is the Size in percentage to detect a Engulfement Candle.
-Pin Bar Tolerance corresponds to the percentage value of the Pin Bar to be considered.
-Offset is how many candles must be counted to consider an OB as valid (5 by default).
Thanks again to everyone for your feedback and those who have followed me from the start know that I work hard to keep everyone happy.
Hoping that this update will satisfy the greatest number!
Cheers
הערות שחרור:
-Minor fix.
הערות שחרור:
-Simplified Settings (more users friendly).
-Improved algorithm.
-Code cleaning.
-Improved algorithm.
-Code cleaning.
הערות שחרור:
-For those who liked the algorithm that worked with volumes, you now have the option to use it by selecting it from a scrolling menu in settings.
You can also choose to display Both at the same time (Price Action and Volume). Note that they are based on different calculations.
-Code cleaning.
You can also choose to display Both at the same time (Price Action and Volume). Note that they are based on different calculations.
-Code cleaning.
הערות שחרור:
-Minor improvement.
הערות שחרור:
-Added "Classic" mode to "OB Detection type" (it has been set by default). This mode is based on engulfment only.
-Added possibility to choose maximum number of lines.
-Added "Offset" option again but i let it to 0 by default to less confusing for newbie.
-Revisions and code cleaning.
-Added possibility to choose maximum number of lines.
-Added "Offset" option again but i let it to 0 by default to less confusing for newbie.
-Revisions and code cleaning.
הערות שחרור:
-"Classic" Detection Type has been merged with "Price Action" since engulfment is part of the Price Action logic and that let less confusing.
-Removed offset option since we don't need it anymore.
-Improved calculation.
-The indicator is now at his final stage. So much updates for a so small script... But I think it was worth it! 🍻
-Removed offset option since we don't need it anymore.
-Improved calculation.
-The indicator is now at his final stage. So much updates for a so small script... But I think it was worth it! 🍻
הערות שחרור:
-Following the request of a user, "Use Wick?" option is back.
if you have any suggestions to improve it like usual, don't hesitate!
if you have any suggestions to improve it like usual, don't hesitate!
הערות שחרור:
-Following the request of a user we released this minor update and we also took the opportunity to bring its small batch of surprises :
-Less transparency on the lines (before the transparency was set to 30 in the code).
-Added the possibility to change the style of the lines (Solid, Dotted, Dashed) and to adjust the size of these.
-Updated tooltips.
-Less transparency on the lines (before the transparency was set to 30 in the code).
-Added the possibility to change the style of the lines (Solid, Dotted, Dashed) and to adjust the size of these.
-Updated tooltips.
הערות שחרור:
-Code cleaning.
הערות שחרור:
-V1.5 :
-Added an option to display or not the price of the last levels (Enabled by default).
-Added an option to display the "OrderBooks" on the right section of the chart. Take into account that this is not the OrderBooks that we can consult
and access with level 2 but the closest approximation that we can make of it. The option is accompanied by a tooltip.
Many thanks to who gave me permission to reuse and implement his "Tape" script.
![Tape [LucF]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
I invite you to consult the page of the original script if you wish to learn more. We have simplified the settings as much as possible (and left them by default voluntarily) so as not to numb the indicator completely with settings. The option is disabled by default.
-Cheers
-Added an option to display or not the price of the last levels (Enabled by default).
-Added an option to display the "OrderBooks" on the right section of the chart. Take into account that this is not the OrderBooks that we can consult
and access with level 2 but the closest approximation that we can make of it. The option is accompanied by a tooltip.
Many thanks to who gave me permission to reuse and implement his "Tape" script.
![Tape [LucF]](https://s3.tradingview.com/8/8mVFTxPg_big.png)
I invite you to consult the page of the original script if you wish to learn more. We have simplified the settings as much as possible (and left them by default voluntarily) so as not to numb the indicator completely with settings. The option is disabled by default.
-Cheers
הערות שחרור:
Uups, just noticed the name of the author of the "Tape" script was not mentionned in the last update. Shame on me! This is Mister :)
Many thanks to him, again.
Many thanks to him, again.
הערות שחרור:
I see that the author's name is still not displayed, and I still maintain to specify that it is LucF. I think the name was not displayed because of the special characters around the nickname. My sincerely apologize for the inconvenience.
הערות שחרור:
-V1.7 Changelog :
-Improved Price Action logic, we have now the best compromise between PA and Volumes. A big Thanks to Wugamlo for giving me his permission to re-use and implement his code for the "Price Action" part from his "Order Block Finder (Experimental)" script which you can find here: www.tradingview.com / script / R8g2YHdg-Order-Block-Finder-Experimental /.
-Unlocked some options for the OrderBooks part like "Text Size", "Volume Precision" and "Maximum Lines Displayed".
-Tooltips update.
-Code cleaning.
-Improved Price Action logic, we have now the best compromise between PA and Volumes. A big Thanks to Wugamlo for giving me his permission to re-use and implement his code for the "Price Action" part from his "Order Block Finder (Experimental)" script which you can find here: www.tradingview.com / script / R8g2YHdg-Order-Block-Finder-Experimental /.
-Unlocked some options for the OrderBooks part like "Text Size", "Volume Precision" and "Maximum Lines Displayed".
-Tooltips update.
-Code cleaning.
הערות שחרור:
-Code cleaning.
הערות שחרור:
-Minor improvement.
הערות שחרור:
-Minor improvement.
הערות שחרור:
-Added an option to choose Custom Colors for High and Low Zones.
הערות שחרור:
-Minor improvements.
הערות שחרור:
-Bug fix when Wick was disabled.
-Following request of a user, Volume Ratio has been added over/under Arrows Labels when "Volume" is selected in "OB Detection Type".
-Following request of a user, Volume Ratio has been added over/under Arrows Labels when "Volume" is selected in "OB Detection Type".
הערות שחרור:
-TimeZone "step" has been change to 0.5 instead of 1 in OrderBooks settings.
-Added an option to enable or disable the "Volume Ratio" Above and Below Candles when "Volume" is selected in the "OB Detection Type" scrolling menu.
-Added an option to enable or disable the "Volume Ratio" Above and Below Candles when "Volume" is selected in the "OB Detection Type" scrolling menu.
הערות שחרור:
-Minor improvements.
הערות שחרור:
-The option to display the volume ratio has been changed and now also allows the price to be displayed as a label when an OB is detected in Price Action. (The price actioh must be selected in the "OB Detetion Type" menu and the option "Show Price/Ratio Labels" must be checked naturally as well. The Tooltip has been updated as well.
הערות שחרור:
-Added max_label_count in Study with an equal value to the max_bars_back.
-Minimum limit value for OrderBlock "Maximum Lines Displayed" has been set to 1.
-Code Cleaning.
-Minimum limit value for OrderBlock "Maximum Lines Displayed" has been set to 1.
-Code Cleaning.
הערות שחרור:
-Code cleaning.
הערות שחרור:
-Added "Extend Lines" option with his tooltip.
-Added option to adjust the transparency of "Extended Lines".
-Added option to adjust the transparency of "Extended Lines".
הערות שחרור:
-Minor improvements.
הערות שחרור:
-Added "Wick Percentage" option with his tooltip.
-Code cleaning.
-Code cleaning.
הערות שחרור:
-Added Tape Volume Threshold from the original option as requested by an user.
הערות שחרור:
-Updated to Pinescript V5.
הערות שחרור:
-Code cleaning.
הערות שחרור:
-"Maximum Number of Line" option can now be set to 500.
-"Extended Lines" option is now activated by default.
-"Extented Lines Transparency" is now set to 0 by default.
-Minor improvements.
-"Extended Lines" option is now activated by default.
-"Extented Lines Transparency" is now set to 0 by default.
-Minor improvements.
הערות שחרור:
-Following the request of a beta-tester, "Extend Lines" option has been deactivated by default.
הערות שחרור:
-Replaced "Wick Percentage" option by "Move Percentage" (Number of Subsequent Candles to count to search for the potential OrderBlock).
-Minor improvements.
-Minor improvements.
הערות שחרור:
-"Maximum Lines Displayed" has been set to 20 by default.
הערות שחרור:
-Simplified settings and code. No volume detection type option anymore (it was not enough accurate).
-OrderBooks from LucF has been removed too.
-Lines since Candles Average is now possible.
-To all people who's still doesn't understand the logic behind this indicator, a full tutorial will come on my Youtube Channel soon. (or in meantime you can search for the work of Michael j. Huddleston ;))
-Tooltips has been updated.
-OrderBooks from LucF has been removed too.
-Lines since Candles Average is now possible.
-To all people who's still doesn't understand the logic behind this indicator, a full tutorial will come on my Youtube Channel soon. (or in meantime you can search for the work of Michael j. Huddleston ;))
-Tooltips has been updated.
הערות שחרור:
-Updated default settings. (Do not forget to use the indicator in H2, H4 or Daily)
הערות שחרור:
-Updated tooltip.
הערות שחרור:
-Added Bar Time.
-Updated Tooltip.
-Minor improvements.
-Updated Tooltip.
-Minor improvements.
הערות שחרור:
-Updated default settings.
הערות שחרור:
-Minor fix.
הערות שחרור:
-Improved settings menu.
-Updated tooltip.
-Added "Highest Volume Lines" option with his tooltip.
-A lot of improvement.
-Code cleaning.
-Updated tooltip.
-Added "Highest Volume Lines" option with his tooltip.
-A lot of improvement.
-Code cleaning.
הערות שחרור:
-Removed "Highest Volume Lines" option for now. (It need some improvements).
-Changed "High Zone" Color to Green and "Low Zone" to Red.
-Code cleaning.
-Changed "High Zone" Color to Green and "Low Zone" to Red.
-Code cleaning.
הערות שחרור:
-Added an option to display Bar Time and choose his color.
-Added an powerful "Accumulation/Distribution" optional lines option with instant alert (if the option is checked in settings menu). This can be helpful to find Reversal or Continuity Trend.
-Added an powerful "Accumulation/Distribution" optional lines option with instant alert (if the option is checked in settings menu). This can be helpful to find Reversal or Continuity Trend.
הערות שחרור:
-Minor improvements.
-Code cleaning.
-Code cleaning.
הערות שחרור:
-Minor fix on bar color.
הערות שחרור:
-Bug fixed concerning the Price displayed during an Alert for a new OrderBlock Detected.
הערות שחרור:
-Acc/Dist option has been removed cause it was not useful enough.
-A category 'Alerts Setup' has been added in the settings in which you have the possibility to select the Alerts that you want to enable or not. (You must do this before placing the alert).
-An Alert option has been added for when the Top/Bottom Retracement Line has been crossed.
-Minors changes.
-Code cleaning.
-A category 'Alerts Setup' has been added in the settings in which you have the possibility to select the Alerts that you want to enable or not. (You must do this before placing the alert).
-An Alert option has been added for when the Top/Bottom Retracement Line has been crossed.
-Minors changes.
-Code cleaning.
הערות שחרור:
-Minor improvement.
הערות שחרור:
-Minor improvement (bis).
הערות שחרור:
-Code cleaning.
הערות שחרור:
-Minor changes.
הערות שחרור:
-Default settings has been change to have alert with only a delay of 2 candles. (but for those who still not understand how to use the indicator, know even a 5 bars delayed alert is not a problem cause we're NOT following signals but using lasts historical OB Detected as zone of retracement (like S/R do), so for example, if you have a Bearish OB detected DO NOT Sell ! Simply wait for a retracement to BUY until the last Bearish OB Price detected earlier. That's all.
With this update we have changed the offset to 2 candles to have alerts more quickly with increasing a lil bit the percentage move to filter lines.
-Removed 'Bar Time' option cause TV already have an built-in option for that.
With this update we have changed the offset to 2 candles to have alerts more quickly with increasing a lil bit the percentage move to filter lines.
-Removed 'Bar Time' option cause TV already have an built-in option for that.
הערות שחרור:
-Lines Price alignement correction.
הערות שחרור:
-Minor improvement
הערות שחרור:
-Bug fix
הערות שחרור:
-Going back on latest version cause the new update need a fix for extended lines alerts
הערות שחרור:
General Changes
License: The license has been changed from Mozilla Public License 2.0 to Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0).
Input Parameters
Several new input parameters have been added, and some have been renamed or changed for clearer functionality. Notably, the addition of i_swinglen, i_bullob_css, i_bearob_css, i_sr, i_sr_lb, i_layout, i_max_line, i_inv_css, i_usebody, i_line_width, i_line_style, and i_extend.
Style and Color
The options for line styles and colors are now more flexible, allowing for increased customization.
Added Features
Swing Detection: A new feature for identifying swings has been introduced, allowing for more accurate detection of institutional order blocks based on the swing length specified by the user.
Support and Resistance: The management of support and resistance lines has been expanded, with options to display or hide these lines and the corresponding price levels.
Line Style: Users can now choose the line style (solid, dashed, or dotted) for the support and resistance lines.
Optimizations and Fixes
Performance: The efficiency of the script has been improved through optimized use of functions and variables.
Code Clarity: The code has been reorganized for better readability and understanding, with clearer comments and an improved logical structure.
User Interface Modifications
Interface Customization: Input parameters have been more intuitively grouped, and new customization options have been added for end-users.
Alerts
Alert Conditions: The conditions for triggering alerts have been refined, offering greater precision for notifications related to institutional order blocks.
Market Limitations and Efficiency
Market Specificity: The script is now more effective than before but is designed to work optimally on specific markets. Users may find that it does not perform equally well across all market types, necessitating adjustments or customization for best results on certain assets.
License: The license has been changed from Mozilla Public License 2.0 to Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0).
Input Parameters
Several new input parameters have been added, and some have been renamed or changed for clearer functionality. Notably, the addition of i_swinglen, i_bullob_css, i_bearob_css, i_sr, i_sr_lb, i_layout, i_max_line, i_inv_css, i_usebody, i_line_width, i_line_style, and i_extend.
Style and Color
The options for line styles and colors are now more flexible, allowing for increased customization.
Added Features
Swing Detection: A new feature for identifying swings has been introduced, allowing for more accurate detection of institutional order blocks based on the swing length specified by the user.
Support and Resistance: The management of support and resistance lines has been expanded, with options to display or hide these lines and the corresponding price levels.
Line Style: Users can now choose the line style (solid, dashed, or dotted) for the support and resistance lines.
Optimizations and Fixes
Performance: The efficiency of the script has been improved through optimized use of functions and variables.
Code Clarity: The code has been reorganized for better readability and understanding, with clearer comments and an improved logical structure.
User Interface Modifications
Interface Customization: Input parameters have been more intuitively grouped, and new customization options have been added for end-users.
Alerts
Alert Conditions: The conditions for triggering alerts have been refined, offering greater precision for notifications related to institutional order blocks.
Market Limitations and Efficiency
Market Specificity: The script is now more effective than before but is designed to work optimally on specific markets. Users may find that it does not perform equally well across all market types, necessitating adjustments or customization for best results on certain assets.
הערות שחרור:
Expanded Compatibility Across All Markets
We are pleased to announce that our IOBP script has been optimized for peak performance across all financial markets. This update ensures universal adaptability and efficiency, enhancing its utility for all traders.
We are pleased to announce that our IOBP script has been optimized for peak performance across all financial markets. This update ensures universal adaptability and efficiency, enhancing its utility for all traders.
הערות שחרור:
-Minor fix
Telegram : t.me/+erb2pUEsHc43NmRk