Introduction
The Order Block Detector, developed by Cao Minh Quang, is a tool designed to automatically detect bullish or bearish order blocks, optimizing trade entries. It’s marketed as ideal for traders following ICT (The Inner Circle Trader) and works with various asset types, including cryptocurrencies, stocks, and forex. It displays order blocks on multiple timeframes, from M2 to W1, and alerts users when an order block is detected, migrated, or a higher timeframe order block is created/migrated. The indicator is enhanced by strong VSA (Volume Spread Analysis) and promises fast and accurate order block detection without any repainting. Sounds like a dream, right? Well, let's dig deeper.Description of Features
The Order Block Detector boasts several key features:- Multi-Timeframe Detection: Displays order blocks on timeframes ranging from M2 to W1.
- Alerts System: Notifies users when an order block is detected, migrated, or a higher timeframe order block is created/migrated.
- Volume Spread Analysis (VSA): Enhances the indicator's capability to identify significant market movements.
- Non-Repainting: Ensures that the signals provided are reliable and consistent.
- Scalping and Swing Trading: Optimized for both trading strategies.
Analysis of Results
Over the past year, the Order Block Detector has received positive feedback, particularly for its accuracy and reliability. User mr.robs rated it 5 stars but mentioned a desire to disable certain display features on higher timeframes. This indicates that while the indicator performs well, there’s room for improvement in customization. The rating of 5 suggests high satisfaction, but let's not get carried away. The real test is in the consistent performance over various market conditions, and that’s where skepticism kicks in.Pros and Cons
- Pros:
- Accurate detection of order blocks.
- Comprehensive alert system.
- Non-repainting feature ensures reliability.
- Enhanced by VSA for better market movement identification.
- Cons:
- Limited customization options, as noted by users.
- High dependency on the indicator without considering broader market conditions can be risky.
Conclusion
The Order Block Detector is a robust tool with several strong features, making it a valuable addition to a trader's toolkit. However, like any tool, it has its limitations and should be used as part of a broader trading strategy. We encourage users to discuss their experiences with this robot on our forum and share their results. Detailed statistics are available on our website: Order Block Detector Statistics.Source Code of Order Block Detector
We don’t have access to the original source code of the Order Block Detector sold on MQL5, but we can create a code based on its description. If you have any questions about the code, feel free to ask. This is an example code from easytradingforum.com, based on the description of the robot sold on MQL5. Note that the EASY Trading Team does not sell the Order Block Detector but has created a trading robot code based on its description.
Code:
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