CANX Supply and Demand - Order Block - Candle Identification

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CANX Supply and Demand - Order Block - Candle Identification

Description

Designed as a visual aid, to highlight the last up or down candle before a fractal break. We can assume these candles where the point of origin that generated enough strength to break recent structure. By using them as reference points, traders are expected to follow their own set of rules and mark higher probability supply and demand zones in the area.

How to use:

Expect price to retest in these areas, and if they fail, a potential retest in the opposite direction. The greater the number of times a zone is tested, the more likely it is to break. A fresh zone that has not yet been tested will have a higher probability of a bounce.

Fractal period and candle break type can be customized in the settings. This works on all time frames.

**The indicator is set to my optimal settings for the 5 minute or 15 minute time frame** Please mess around to find your comfort zone and back test the results.

The lower the period number the more noise this creates on the market. The higher the number the less noise and more potential for a stronger zone.

Keep it simple