BB Order BlocksUsing the Bollinger Band to mark areas of Support and Resistance
The scrip finds the highest and lowest levels of the bands to mark up futures areas of interest.
If the High/Lows are being broken on the Bollinger band, or if the look back range has expired without finding new levels, the script will stop plotting them until new levels are found
I have found many combinations which work well
Changing the band length to to levels 20,50,100 or 200 seem to give interesting results
Aswell as this changing the standard deviation to 3 instead of 2 marks up key levels.
The look back range seems to show better levels on 50,100 and 200
Let me know any changes or updates you think you could make an impact , this was just a quick basic script I wanted to share.
Order
Order Block Finder (Experimental)The purpose of this experimental Indicator is to help identifying Institutional Order Blocks.
Often these Order Blocks can be observed at the beginning of a strong move, but there is a significant probability that these price levels will be revisited at a later point in time again. Therefore these are interesting levels to place limit orders (Buy Orders for Bullish OB / Sell Orders for Bearish OB).
A Bullish Order block is defined as the last down candle before a sequence of up candles. (Relevant price range "Open" to "Low" is marked)
A Bearish Order Block is defined as the last up candle before a sequence of down candles. (Relevant price range "Open" to "High" is marked)
In the settings the number of required sequential candles can be adjusted.
Furthermore a %-threshold can be entered. It defines which minimum %-change the sequential move needs to achieve in order to identify a relevant Order Block. If this is used, it makes sense to adjust it to the timeframe which is analyzed as of course higher timeframes usually produce bigger moves.
Channels for the last Bullish/Bearish Block can be shown/hidden.
In addition to the upper/lower limits of each Order Block, also the equlibrium (average value) is marked as this is an interesting area for price interaction.
Please note that you can optionally display a "Docu"-Label which shows some information about the indicator as a tooltip.
Remark:
As the identification of a relevant Order Block is only possible after the required number of subsequent candles has closed, this indicator "repaints" by definition. But I do not see this as an issue as the relevancy of the Order Blocks and the interaction of price with these levels usually only happens longer in the future anyway.
Order Size CalculatorScript to calculate the amount of stocks for of an order in relation to depot size (money), risk awareness, profit target and ATR
