Order Block Breaker Indicator
Order block breaker indicator for MT4 provides the best BUY and SELL forex trading signals based on price exhaustion points.
Updated on: 05.09.2023
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The order block breaker indicator for MT4 provides essential information on the market structure. The indicator identifies major trend reversal and exhaustion points of momentum. As a result, forex traders can identify Bullish and Bearish price reversal zones and BUY and SELL accordingly. Moreover, the indicator provides alerts whenever a trading signal is available.
An order block is a market structure that is identified as the last Bearish candle before a Bullish price move and vice versa. These order blocks act as support and resistance where traders anticipate the price to reverse its direction. The indicator is well suited for advanced traders. However, new traders may gain knowledge with practice. The indicator works well in all intraday time frames as well as the daily, weekly, and monthly price charts.
Order Block Breaker Indicator For MT4 Trading Signals
The above EURUSD M30 shows the Order Block Breaker indicator for MT4 in action. The indicator draws the Bullish order blocks in NAVY BLUE and Bearish order blocks on MAROON. Furthermore, the indicator alerts by message, sound, and push notifications. These can be input according to the user requirements in the indicator settings.
If the price enters the Bullish order block it indicates the possible price reversal. So, technical traders should look for a BUY entry point based on the price action within the Bullish order block. As the Bullish order block represents strong support all technical indicators and technical trading strategies to validate support apply to the Bullish order block trading. The best stop loss is below the order block or the previous swing low. However, take-profit positions are based on the risk-reward ratio or at the next available resistance.
Similarly, if the price enters a Bearish order block forex traders should place a SELL position and the market is expected to reverse. The best entry within the Bearish zone is based on the price action. A stop-loss above the order block or the previous swing high provides the best results. However, traders should look to book profits with a good risk-reward ratio.
The order block is often a zone and not a single line or a point. So, forex traders should look into the order block and react appropriately within the zone. The break of the order block indicates a potential reversal point of the trend in the counter-trend direction. However, the order blocks that continue in the direction of the previous trend are often more rewarding and have a good risk to reward ratio.
The Order Block Breaker indicator for MT4 is similar to support and resistance. However, price tends to respect these blocks due to the nature of price action around these levels. Not all order blocks provide the necessary price reversals so forex traders should use other technical indicators and price action for additional confirmation of the BUY and SELL trading signals. Additionally, the indicator is free to download and easy to install.