Order Block Finder V2 by Wugamlo

How to use the new Order Block Finder V2?

Step 1 - Adding the Indicator to your favorites

After opening TradingView, click on the "Indicators, Metrics & Strategies" button and search for "Order Block Finder V2". Make sure to find the correct one created by Wugamlo
Click the Star to add the Indicator to your favorites. As this is an invite-only script, you will need to go through the Access process before you can use it. Details on the Access process can be found under "Pricing & Access"

Step 2 - Adding the Indicator to your chart

After securing the access to the indicator, you can now add it to your chart and use it
It is recommended to go into the indicator settings to customize it according to your needs

Step 3 - Customizing the Indicator

This section describes the different ways you can customize the indicator:

"Relevant Periods to identify OB" defines how many consecutive green or red candles are required to mark an Order Block. A lower number will cause more OBs to be identified, but they are also weaker
"Min. Percent move to identify OB" allows the trader to enter a minimum price move that needs to be exceeded in order to mark an Order Block
"Use whole range [High/Low] for OB marking?" determines if only the candle body or the whole candle including the wicks is used for OB marking
"Show lines?" allows the trader to show or hide the OB lines
"Show Age of OBs?" allows the trader to show or hide the OB age number for the still relevant OBs
"Number of OBs Lines to display" lets the trader choose the number of lines shown on the chart. 10 will display the latest 10 Bullish and the latest 10 Bearish OBs
"Layout Type" allows the trader to choose if the OB Lines are based on the Wick or based on the Candle Body
"Color Bullish OB/BearishOB" allows the trader to set their own color for the Order Block marking. This is especially important if someone is using white chart background as by default the Bullish OBs are shown in white
"Line Width" adjusts the thickness of the Order Block lines
"Show Latest OB Panel" will show a separate panel on the chart with the technical information about the latest Bullish & Bearish Order Blocks
"Color OB Candle Bodies?" determines if the candles where an Order Block was identified will be colored

Step 4 - Customizing Alerts

The "Order Block Finder V2" also allows you to create TradingView Alerts. To create an alert, select the relevant ticker and timeframe and then click the "Add Alert" button in the Alerts section of the sidebar and select the "Order Block Finder" indicator in the "Condition" dropdown. Two types of alerts can be created:

New Bullish OB detected
New Bearish OB detected

Important:

These alerts are not buy or sell signals! They only appear after the condition for Order Block determination is fulfilled, means that they always come delayed. The alerts serve as reminders that the user should look into the chart and then determine if it makes sense to place limit orders based on the Order Block situation.

Now lets observe what an ideal scenario looks like...

Order Block Detection

Bullish Order Block is detected.
Alert was triggered (if it was activated)

Limit Order Placement

Trader places Limit Buy Order slightly above the identfied Area of Interest

Order Execution

Price revisits the Area of Interest. Limit Buy Order is triggered and price moves in the expected direction.

Wow! Such a great tool! I need this!

How do I get Access?? Please!

Let me in!!

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