Order Block Scanner
Order Block Scanner
Description
Automatically detect and analyze order blocks with advanced filtering options. This powerful tool helps traders identify and analyze key market levels where institutional orders are placed.
Key Features
- Automatic order block detection
- Advanced filtering options
- Multi-timeframe analysis
- Real-time alerts
- Customizable parameters
Technical Specifications
- Platform: MetaTrader 4 & 5
- Version: 2.0.0
- Last Update: January 2024
- Compatible With: Windows, Mac (via MT4/5)
Installation Steps
- Download the indicator from MQL5 marketplace
- Open your MetaTrader platform
- Go to File > Open Data Folder
- Navigate to MQL4/MQL5 > Indicators folder
- Copy the downloaded file into this folder
- Restart MetaTrader
- Find the indicator in your Navigator window
Getting Started
After installation, you can start using the indicator by following these steps:
- Drag the indicator onto your chart
- Configure the order block detection settings
- Use the filtering options to focus on specific types of order blocks
- Set up alerts for new order block formations
Frequently Asked Questions
What are order blocks?
Order blocks are areas on the chart where significant institutional trading activity has occurred, often leading to future price reactions.
How accurate is the detection?
The indicator uses advanced algorithms to detect order blocks with high accuracy, but it’s recommended to use it in conjunction with other forms of analysis.
Can I customize the detection parameters?
Yes, you can fully customize the detection parameters to match your trading style and preferences.