The old version works great! Why make a new version?
The old version works great! Why make a new version?
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While the general logic of the old indicator works great, there was a certain topic which always annoyed me and made me re-think the approach:
Display of "Relevant Order Blocks"
The most important input a trader gets from the indicator are the "Relevant Order Blocks".
These are the Order Blocks which have been identified, but which have not yet been re-visited by the price action.
With the old version of the indicator, this is quite difficult to do...
Issues with the old indicator:
Only the most recent Bullish and Bearish Order Block is shown with a channel into the future (red boxes)
Historical Order Blocks are just shown directly on the candles (circles)
It is difficult to visualize which Order Blocks are still relevant (red) vs. not relevant anymore (blue)
Handling of Relevant OBs in the V2 Version:
All Order Blocks which are still relevant are showing on the chart as lines until the current date/time
Age of the Relevant Order Blocks is shown
As soon as an Order Block is revisited by the price, the line is interrupted and is no longer relevant
It is now possible to customize how many historical OBs should be shown
This has the following advantages:
This makes it much easier for the trader to identify which Order Blocks are still relevant
It makes it easy to check the success rate of the strategy in the past
The chart in general is much cleaner
So now that we have established the main Advantage of the new Version - How to use it?
So now that we have established the main Advantage of the new Version - How to use it?
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