The Order Block Forex indicator (MT4) is a free powerful price action tool that helps you find possible trend reversals with the help of order blocks.
This indicator displays all buy & sell order blocks directly on the chart.
In essence, order blocks identify the best possible area’s of support (blue block) and resistance (red block).
The Order Block indicator comes with all kind of alerts to notify you as soon as a new order block appears on the chart.
After you downloaded and installed this indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Displays order blocks.
- Can be used for both trade entry and exit.
- Works for any trade style.
- Well worth adding to your indicator collection.
This indicator can work together with any existing trading strategy or system as a simple trend confirmation technical tool.
Free Download
Download the “order-block-forex-indicator.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD M1 chart below shows the Order Block Forex indicator in action.
Basic Trading Signals
Signals from the Order Block indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- Open a buy trade when price trades in the blue colored order block.
- Place your stop loss below the low of the blue order block.
- Take profit at the top of the red order block.
SELL:
- Open a sell trade when price trades in the red colored order block.
- Place your stop loss above the high of the red order block.
- Take profit at the low of the blue order block.
Download This Forex Indicator
Download the “order-block-forex-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Line identifier, alerts ON, alerts ON current, alerts message, alerts sound, alerts notify, alerts email, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: System
How to install the Order Block Forex indicator in Metatrader 4?
- Copy and paste the order-block-forex-indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button