Order Block + Void indicator Download for MT4 - Free - [Trading Finder]

Order Blocks are important zones where large buy and sell orders from major financial institutions are placed. Order blocks typically act as strong support and resistance levels on the chart.

The Order Block + Void indicator for MetaTrader 4 automatically plots these order blocks on the price chart. One feature of this indicator displays the consumed portion of the order block as a percentage, with the consumed area turning gray.

This indicator draws bullish order blocks as green boxes and bearish order blocks as red boxes.

Indicator Specifications

How Bullish Order Blocks Form and Work

The price chart of the USD/CHF pair in a one-hour timeframe shows how a bullish order block functions. According to the chart, the indicator first identifies the order placement area and then plots a bullish order block in green. The price return to the bullish order block provides a good entry point for buy trades.

The gray area in the bearish order block shows the consumed portion of that block.

How Bearish Order Blocks Form and Work

In bearish conditions, as seen in the ETH price chart in a 30-minute timeframe, the indicator identifies the order placement zone and plots a bearish order block in red. The price return to the order block can be a suitable entry point for sell trades. Whenever an order block, as shown in the image, is fully consumed, it changes color to gray and becomes invalid.

Indicator Settings

• Color theme of chart and object: The chart theme is Light;
• Back candles check: The number of candles for calculating order blocks is 1000;
• The prefix of objects: Defines the prefix for objects and items drawn by the indicator;
• Vertical line show permission: Vertical lines for showing the formation of order blocks are enabled;
• Show level 1 trends: Displaying level 1 trends is disabled;
• Show BOS & ChoCh level 1: Displaying Break of Structure and Change of Character for level 1 is disabled;
• Show level 2 trends: Displaying level 2 trends is enabled;
• Show BOS & ChoCh level 2: Displaying Break of Structure and Change of Character for level 2 is disabled;
• Show BOS & ChoCh level 2 label: Labels related to Break of Structure and Change of Character are disabled;
• The type of OB: The type of drawn order blocks is Aggressive;
• Show OBs: Displaying order blocks is enabled;
• OBs Used color: Color change for used order blocks;
• Invalid OB with close beyond the zone: Deleting broken blocks is enabled;
• Invalid new zones with intersection: Deleting new blocks when overlapping with old ones is enabled;
• Invalid zone show: Displaying invalid zones is disabled.

Summary

The Order Block + Void indicator is a flexible and practical tool in MetaTrader 4. It is applicable in all markets, including Crypto, Forex, and Stocks, and is particularly useful for traders using Supply and Demand or Liquidity-based strategies.