MensaTrader

Order Blocks V2 [MensaTrader]

Lines are Strong Support and resistance , Used to help find buy/sell or take profit zones.

When the lines turn green, these prices are suggest good limit entry prices for longs and shorts.
Default settings are left for scalping on short timeframes

Please note that this is experimental and far from perfect. feel free to play about with the variables in the settings.

feel free to comment any suggestions I hope to update this in the near future

The script is written in version 4
Release Notes: New filtering method to help detirmine exhausted moves.
When the support and resistance lines turn from red to green, these would be good suggested limit orders for Longs and shorts.
I have been working on lower timeframes
Release Notes: Order block green line signal has been updated.

a stream of green lines on the bands mark up a long term order block, I draw in boxes to make it more clear.
I place the order block from the first set of green lines, if the lines are moving up or down, you can wait until they flatline before placing an orderblock to be more conservative.

This orderblocks can often be flipped and be played the opposite direction. e.g if a set of green lines come up on the top bands you place your order block, if the price breaks above the top of your orderblock, that top line can be used as support to take a potential long entry instead.

I have been working on the hourly timeframe on crypto currencies
Release Notes: Minor update to the plotting, wasnt plotting for the new data recently added. Fixed
Release Notes: Lots of changes to the median points, They now use volume calculations to determine whether they will act as support or resistance.
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This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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Comments

good work
+1 Reply
amazing work!!
Reply
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