Brokerir - Order Blocks

Order Block Trading Script for brokerir.com
Effectively Identify Supply and Demand Zones

In order to trade order blocks effectively, you need to identify key areas on the price chart where a large move has occurred. This script does the hard work of drawing order blocks for you, saving you time and effort.

For more information head to brokerir.com/block-order-indicator/

Blue OB (Supply): Look for short opportunities (sell).
Green OB (Demand): Look for long opportunities (buy).
Important Notice:
Not every order block will be a valid buying or selling point. It’s essential to confirm order blocks with additional analysis to ensure reliability.

Alert System:
You can set two types of alerts with this script:

Buy Alert
Sell Alert
What are Order Blocks?
Order blocks are significant institutional buy or sell orders placed over a certain period. During these moments, institutional players are working to build up their positions, and these blocks often serve as strong support or resistance levels for future price action.

Release Notes – Published on Jan 25, 2025

Updated to PineScript v5 for enhanced performance.
Fixed alert bug for more reliable notifications.
Added clearer comments to improve code readability.
Added the option to customize the color of order blocks.