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This Indicator for TradingView prints order block (supply and demand) zones automatically for you. It will save you a lot of time.
Order blocks are a type of supply and demand zone that form when block orders are placed by banks. These orders are specifically designed to avoid upsetting the market and triggering orders at unfavorable prices. When banks want to open a large position, they'll split it into smaller blocks to manage their risk and ensure they get the best possible price.
If you're already familiar with order flow trading or smart money concepts, you may have heard of order blocks before. These blocks can play an important role in the market and can help traders better understand the underlying supply and demand dynamics at play. By understanding how order blocks work, traders can potentially identify key support and resistance levels and make more informed trading decisions.
Order blocks can be valuable in forex trading as they represent areas where large market participants have placed block orders. These blocks can act as key levels of support and resistance, attracting buying or selling activity when price returns to these areas. Order blocks always accure before a huge price movements happens, with mostly combined with a fair value gap. To find order blocks, you can use the SonarLab Order Block Finder for TradingView, which scans price data and highlights potential order blocks on your chart.
Understanding order blocks is important in trading because they can act as key support and resistance levels in the market. These levels may attract buying or selling activity, impacting the level of liquidity and price action in the market.
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