Order Blocks are significant zones of support/resistance levels where a large volume of buy/sell trade orders has occurred. Thus, forex traders tend to anticipate the possibility of a price reversal when it gets to a valid order block.
However, when the price breaks out of a valid order block, it has a very high probability of continuing in that direction. The principle at play is that the order block, which previously acted as a support level, for instance, would become a resistance zone after the price breaks out of it.
Therefore, the Order Block Breaker indicator is a technical analytic tool for MT4 to help traders identify when the price breaks out from an order block zone. In essence, the indicator is used to identify a trading opportunity after the price breaks out of the order block.
Features of the Indicator
The Order Block Breaker indicator was built to identify order block formation in anticipation of a potential breakout of the price. Furthermore, it comes with an alert notification function, which notifies the user about the identified order block level.
In addition, it also permits users to customize the inbuilt parameters to the tune of the trading style. Finally, the indicator displays bullish and bearish order blocks with two distinct colors for easy identification.
Benefits of the Indicator
a) Automatically Identifies an Order Block: The indicator makes it pretty easy to identify trading opportunities in the financial market after an order block has been broken. In other words, it takes away the pain of manually trying to find the order block zone on the chart.
b) Suitable for trend breakout traders: The indicator is an incredible system for trend breakout traders because order blocks are strong support/resistance zones, which, when broken, may cause the price in that direction.
c) Less screen time: The Order Block breaker indicator can potentially reduce the screen time of a trader, especially when the alert notification system is enabled.
Indicator Settings Description
The indicator comes with the following customizable parameters:
Alerts on: This enables/disables the signal alert notification.
Alerts on current: This enables/disables signal alerts on the current candlestick.
Alerts message: This enables/disables signal alert messages.
Alerts sound: This enables/disables alerts sound.
Alerts notify: This enables/disables signal alert via mobile.
Alerts Email: This enables/disables signal alerts via email.
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