Order Blocks V6

Since Order Blocks are often used for trend-reversal trades, I added moving-average trend confirmation and pullback entry signals to align better with the trend.

We can now use Order Blocks to enter when the trend is exhausted, and use pullback entries during strong trending markets.

Because this version introduces significant changes compared to Version 5, I’m releasing it as a separate new version rather than updating Version 5.

Order Blocks V6 — Indicator Description

Because the changes compared to Version 5 are significant, I chose not to update Version 5 and instead released this as a separate new version.

Order Blocks V6 is a discretionary trading tool designed to visualize swing and internal order blocks, market structure, moving averages, Bollinger Bands, and related touch/reversal behaviors.

The indicator does not provide guaranteed signals and is intended to support manual analysis rather than automated decision-making.

1. Label Settings

Show Pivot Labels

Displays labels for confirmed swing pivot highs and lows on the chart.

Show Internal Pivot Labels

Displays labels for internal (shorter-term) pivot points.

2. Order Block Settings

Order Block Mitigation

Defines how an order block is considered mitigated:

Close: Uses candle close price

High/Low: Uses candle high or low

This affects when an order block is marked as broken.

3. Swing Structure Settings

Show Swing Order Blocks

Enables visualization of swing-structure-based order blocks.

Swing Length

Number of historical bars used to detect swing highs and lows.

Larger values produce fewer but broader structures.

Bullish OB Color / Bearish OB Color

Colors used for bullish and bearish swing order blocks.

Swing Order Box Transparency

Transparency level of swing order block boxes (0–100).

Remove Swing OB After Break

If enabled, swing order blocks are removed once price fully breaks through them.

4. Internal Structure Settings

Show Internal Order Blocks

Displays order blocks derived from shorter-term (internal) structure.

Internal Structure Length

Lookback length for detecting internal pivots.

Internal Bullish / Bearish OB Color

Colors for internal order blocks.

Internal Order Box Transparency

Transparency level of internal order block boxes.

Remove Internal OB After Break

Deletes internal order blocks after mitigation.

5. Advanced Settings

Array Size

Maximum number of internal elements stored in arrays.

Higher values allow more historical structures but increase memory usage.

6. Bollinger Bands Settings

Show Bollinger Bands

Displays Bollinger Bands on the chart.

BB Length

Period used for the Bollinger Bands moving average.

BB StdDev

Standard deviation multiplier.

Upper / Lower / Fill Colors

Visual styling for the Bollinger Bands and background fill.

7. Moving Average & Trend Settings

Big EMA Timeframe

Higher timeframe used to calculate the main EMA (multi-timeframe).

Big EMA Length

Length of the EMA calculated on the selected higher timeframe.

Trend Type

Defines how trend state is determined:

1: Price structure relative to Big EMA and MA30

2: Close price relative to Big EMA ± ATR range

ATR Multiplier (Trend Type 2)

ATR multiplier used for confirming trend direction in Trend Type 2.

MA 10 / MA 30 / MA 60 Length

Lengths for the short, medium, and long-term moving averages.

Big EMA Trend Colors

Color of the Big EMA based on trend state:

Uptrend

Downtrend

Neutral

MA 10 Color

Color of the 10-period moving average.

Bullish / Bearish Fill Color

Fill color between MA30 and MA60 depending on their relative position.

Show Big EMA / Show MA10

Toggle visibility of the Big EMA and MA10.

Show Fill Between MA30 / MA60

Displays a filled zone between MA30 and MA60.

MA Band Signal Min Gap (bars)

Minimum number of bars required between consecutive MA band signals.

8. MA Band Touch & Resume Signals

This logic tracks pullbacks into the MA30–MA60 band during an established trend and marks continuation behavior.

Labels such as maL1, maS1 indicate sequential signals.

Signals are limited and filtered to reduce clustering.

Trend changes reset internal counters.

9. Touch & Reversal Settings (Order Blocks)

Enable Touch & Reversal Signals

Enables reversal confirmation logic after price touches an order block.

Enable Instant Touch Alert

Triggers an alert immediately when price touches an order block (no confirmation required).

Show Touch Markers

Displays a small T label at the bar where the order block is touched.

Maximum Signal Count

Maximum number of reversal signals allowed per order block.

Minimum Touch Interval (Bars)

Minimum number of bars required between consecutive touches of the same order block.

Signal Label Size

Controls the size of BUY / SELL labels generated after reversal confirmation.

10. Wave Line Settings

Show Wave Lines

Connects confirmed swing highs and lows with lines.

Wave Line Color / Width / Style

Controls the appearance of wave lines.

Max Wave Lines

Maximum number of wave lines displayed on the chart at one time.

Notes & Usage

This indicator is not a trading system.

Signals should be interpreted in context with market structure, timeframe, and risk management.

Different markets and timeframes may require parameter adjustment.

Past visual behavior does not imply future performance.