đšī¸Volumetric Order Blocks
Last updated
Last updated
Volumetric Order Blocks are areas on the chart where significant buying or selling might be happening. They could potentially act as support (buying areas) and resistance (selling areas) for price movements. Once the potential impact of these large orders has been factored in by the market, they'll be displayed on your chart.
The Smart Money Concepts indicator allows you to personalize how volumetric order blocks appear on your chart. Here's what you can adjust:
Number of Order Blocks: Choose how many order blocks to display on your chart using the "Show Last" setting.
Buy/Sell Details: Toggle the "Buy/Sell Activity" option to show the relative strength of buying and selling pressure within each order block.
Breaker Blocks: Include "Breakers" to highlight areas where price potentially broke through significant support or resistance.
Volume Percentage: Display the volume percentage within each order block with the "Show Metrics" option.
Mid-Line: Enable the "Show Mid-Line" feature to visualize the mid-point of each order block.
Hide Overlaps: Avoid cluttered charts by choosing to "Hide Overlap" and only display non-overlapping order blocks.
By adjusting these settings, you can tailor the indicator's display to your preferences and trading style.
When "Hide Overlap" is enabled, the most recent order block is preserved on the chart.
Users can use the "Metric Size" tab to adjust the text size of the metrics.
When Hide Overlapp is enable and his method is set to "Old", you might miss fresh new order blocks that price will bouch.
See Order Block Activity and Strength:
Volume inside each block: Turn this feature on or off to see the delta volume (difference between buying and selling volume) within each order block. This helps you gauge whether there was more buying or selling pressure in that area.
Percentage metrics: This option displays the volume as a percentage compared to other visible order blocks. A higher percentage generally indicates a stronger order block.
Volume data: Each block also displays its raw volume data for additional reference.
These features, combined with other analysis tools, can help you identify potential trading opportunities.
Breakers: These are areas where price potentially broke through significant support or resistance levels. They become visible on the chart after the initial impact of large orders within "normal" order blocks has been absorbed by the market. Breakers can serve as potential future support or resistance zones, helping you anticipate future price movements.
Enabling Breakers: To view breakers on your chart, simply activate the "Show Breakers" setting within the indicator's options.
By incorporating breakers into your analysis alongside other indicators, you can gain a more comprehensive understanding of potential price behavior.
Breakers are displayed with an invisible color that user can change in the settings.
Build-in alerts are available to the user
| Order blocks length | Input |
|---|---|
| Mitigation Method | Input |
|---|---|
Length
Swing point detection is used for the creation of the order blocks.
Full
Use the full candle body as the construction method.
Close
Mitigate order blocks when the close of the candle closes above/below its extreme point.
Wick
Mitigate order blocks when the low/high of the candle crosses above/below its extreme point.
Avgerage
Mitigate order blocks when the extreme of the candle cross the middle point.
