Bollinger Bands or Bollinger Bands (BB) is a channel indicator that has a serious drawback. It
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Become a Breaker Trader and profit from changes in the market structure as the price changes.
The order block switch indicator detects when a trend or price movement is approaching exhaustion and is ready to reverse. It warns you about changes in the market structure that usually occur when there is a reversal or a major pullback.
The indicator uses its own calculation, which determines breakouts and price momentum. Each time a new high is formed near a possible depletion point, the indicator draws in the last block of the order responsible for creating this high. It will then accompany the order block along with the price as it moves. It then alerts you when the price moves in the opposite direction and breaks through that block of orders, creating a new market structure and starting a possible trend change or significant pullback.
Order blocks are the last candle of the opposite color before creating highs / lows, and when the price falls below these key areas again, it is a sign of a likely short-or long-term trend reversal.
Specifications
Alerts you to changes in market structure at key points of depletion
Automatically draws the blocks orders when the price is approaching the levels of exhaustion
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Monitors the order block for price as movements continue in one direction to alert you to the best reversal records
Changes the color to a solid block to show when there were gaps in the market structure.
Works on all symbols and timeframes
Built-in pop-UPS and email alerts
Strategy and how to trade with the order blocking indicator
When a switch lock occurs, you have two options.
Look to your left! Do we have a supply / demand level or a support / resistance level? Market structure changes (reversals) usually occur when the price retests the old level, or the hunt for a stop has just occurred above this support or resistance level.
Consult on a higher timeframe to see if there is a support / resistance area that we are turning towards. As mentioned above, changes in the market structure will often occur on lower timeframes, when at the main levels – on higher timeframes.
If the above conditions are met, simply place the trade in the direction of the breakout. The higher the time interval, the more accurate the indicator will be, as in any trading strategy.
For an additional merge ONLY BE TRADING ABOVE / BELOW YESTERDAY HIGH / LOW If you are patient and wait only for these signals, you will be incredibly accurate.
You can add additional indicators as validation, or use this indicator to add additional validation to your existing metrics or strategy!
Stop Loss and Take Profit
Your stop should always go just above the most recent high or below the most recent low. If the breaker correctly detects a shift in the market structure, the price will rarely return above / below the most recent peak. The size of your stop will depend on how aggressive the last move was to create a recent high.
Take profit depends on the individual, but with this strategy it is easy to achieve a reward risk of 1.5: 1 or 2: 1. Entering 2 trades and having one trail along with the price just above / below the new order blocks displayed on the chart can easily get a risk reward of 5: 1 and higher.
Download the free demo version for use in the strategy tester and see how it works.
See how big some of the movements are after the switch is triggered!
Key Features of Algorithmic Trading Software
03 March 2020
04 September 2020
2.20
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