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Institutional Order Finder (IOF) - Hidden Order Block Lite
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Institutional Order Finder (IOF) - Hidden Order Blocks
Institutional Order Finder (IOF) Indicator: Detecting Breaker Blocks and Hidden Order Blocks (HOBs)
The Institutional Order Finder (IOF) Lite is designed to assist traders in identifying breaker blocks, also known as hidden order blocks (HOBs). The indicator helps identify untouched bodies within order blocks and offers comprehensive analysis of fair value gaps (FVGs) and order blocks based on engulfing candles. The method for detecting engulfing patterns is customizable (available in the Pro version).
Features of the Institutional Order Finder (IOF) Lite Indicator
The indicator detects breaker blocks and distinguishes between complete HOBs and partial HOBs (PHOBs). An HOB is created when the body of a candle, to the left of an engulfing candle, ideally fits through the fair value gaps without being touched by wicks. The indicator differentiates between:
The minimum requirement for a “good” HOB is for the equilibrium to be crossed by the FVGs. This method provides a focused and high-quality view of the market structure.
Visualization and Market Structure Analysis
The Institutional Order Finder (IOF) displays order blocks as lines, with the equilibrium being a critical analysis point. Once the equilibrium is reached, the order block is considered invalid. In addition to HOBs and PHOBs, the indicator also displays fair value gaps, as well as invalidated order blocks (OBs) and breaker blocks (BBs). Understanding these invalidations is essential for interpreting market behavior and potential turning points. The line representation offers a cleaner view, making it easier to combine multiple timeframes and spot clusters.
Multi-Timeframe Analysis (MTF)
The Lite version allows analysis of up to three different timeframes, helping traders observe the relevance and strength of order blocks across different time periods. For each selected timeframe, not only confirmed order blocks are shown, but also “potential order blocks (OBs) and breaker blocks (BBs).” These blocks are currently forming and are not yet confirmed. Potential OBs and BBs can provide crucial insights into the current market structure, especially for traders who seek early signals.
Lite Version and Limitations
The Lite version of the Institutional Order Finder (IOF) indicator has certain limitations. It can display only up to three timeframes, offers fewer customization options, and focuses on basic analysis tools. Nonetheless, the Lite version is a powerful tool for gaining initial insights into the functionality of the MT Breaker Block indicator and improving understanding of market structure.
Why Use the Institutional Order Finder (IOF) Indicator?
The Lite indicator offers a precise way to analyze and visualize order blocks and breaker blocks. By focusing on identifying untouched bodies and the equilibrium, the indicator provides a unique perspective on market structure, often missing from traditional order block indicators. With its ability to conduct multi-timeframe analysis and identify potential order blocks in real time, the IOF Lite indicator offers a detailed understanding of potential price movements.
Special thanks to Moneytaur for inspiring the creation of this indicator.
Settings Overview
GENERAL SETTINGS
ENGULFING
MTF SETTINGS
ORDER BLOCK SETTINGS
FAIR VALUE GAPS
FILTER SETTINGS
This guide provides a comprehensive breakdown of the Institutional Order Finder (IOF) Lite Indicator settings, allowing you to customize and maximize the indicator’s functionality for optimal trading insights.
Institutional Order Finder (IOF) Indicator: Detecting Breaker Blocks and Hidden Order Blocks (HOBs)
The Institutional Order Finder (IOF) Lite is designed to assist traders in identifying breaker blocks, also known as hidden order blocks (HOBs). The indicator helps identify untouched bodies within order blocks and offers comprehensive analysis of fair value gaps (FVGs) and order blocks based on engulfing candles. The method for detecting engulfing patterns is customizable (available in the Pro version).
Features of the Institutional Order Finder (IOF) Lite Indicator
The indicator detects breaker blocks and distinguishes between complete HOBs and partial HOBs (PHOBs). An HOB is created when the body of a candle, to the left of an engulfing candle, ideally fits through the fair value gaps without being touched by wicks. The indicator differentiates between:
- HOB (Hidden Order Block): The body completely fits through the FVGs and is untouched by wicks, making it a strong and reliable breaker block.
- PHOB (Partial Hidden Order Block): The body does not fully fit, but at least the equilibrium (50% level of the body left of the engulfing candle) is covered by the FVGs.
The minimum requirement for a “good” HOB is for the equilibrium to be crossed by the FVGs. This method provides a focused and high-quality view of the market structure.
Visualization and Market Structure Analysis
The Institutional Order Finder (IOF) displays order blocks as lines, with the equilibrium being a critical analysis point. Once the equilibrium is reached, the order block is considered invalid. In addition to HOBs and PHOBs, the indicator also displays fair value gaps, as well as invalidated order blocks (OBs) and breaker blocks (BBs). Understanding these invalidations is essential for interpreting market behavior and potential turning points. The line representation offers a cleaner view, making it easier to combine multiple timeframes and spot clusters.
Multi-Timeframe Analysis (MTF)
The Lite version allows analysis of up to three different timeframes, helping traders observe the relevance and strength of order blocks across different time periods. For each selected timeframe, not only confirmed order blocks are shown, but also “potential order blocks (OBs) and breaker blocks (BBs).” These blocks are currently forming and are not yet confirmed. Potential OBs and BBs can provide crucial insights into the current market structure, especially for traders who seek early signals.
Lite Version and Limitations
The Lite version of the Institutional Order Finder (IOF) indicator has certain limitations. It can display only up to three timeframes, offers fewer customization options, and focuses on basic analysis tools. Nonetheless, the Lite version is a powerful tool for gaining initial insights into the functionality of the MT Breaker Block indicator and improving understanding of market structure.
Why Use the Institutional Order Finder (IOF) Indicator?
The Lite indicator offers a precise way to analyze and visualize order blocks and breaker blocks. By focusing on identifying untouched bodies and the equilibrium, the indicator provides a unique perspective on market structure, often missing from traditional order block indicators. With its ability to conduct multi-timeframe analysis and identify potential order blocks in real time, the IOF Lite indicator offers a detailed understanding of potential price movements.
Special thanks to Moneytaur for inspiring the creation of this indicator.
Settings Overview
GENERAL SETTINGS
- Historical order blocks: Enables the display of historical order blocks on the chart.
- Order blocks: Activates the detection and display of order blocks (OB).
- Show high quality breaker blocks: Displays only high-quality breaker blocks (BB) that meet strict criteria. The lines for high-quality BBs are twice as thick as regular lines.
ENGULFING
- Please choose Engulfing engine: Choose the type of engulfing pattern used to detect order blocks (e.g., “Engulfing Strict” for stricter criteria).
MTF SETTINGS
- Default timeframe: Sets the default timeframe for order block analysis when the multi-timeframe (MTF) mode is turned off.
- Show MTF order blocks: Enables the display of order blocks from multiple timeframes.
- Timeframe 1, Timeframe 2, Timeframe 3: Specify the individual timeframes for MTF analysis.
- Activate Timeframe 1, Activate Timeframe 2, Activate Timeframe 3: Control which MTF timeframes are actively used in the analysis.
ORDER BLOCK SETTINGS
- Order Block Filter Strategy: Choose a filtering strategy to display only the most relevant OBs.
- Extend order blocks to the right: Extends order blocks to the right until they are invalidated.
- Show timeframe as label: Displays the timeframe of the order block as a label on the chart.
- Bearish OB, Bullish OB, Breaker Block, Old Order Blocks, Old BB-Blocks (and possible): Choose colors for different types of order blocks and breaker blocks for easier visual distinction.
- Label text color: Sets the color of the text within labels.
- Label background color: Defines the background color of the labels.
- Line width: Specifies the thickness of the lines that represent order blocks.
- Please choose style of lines / current timeframe, Please choose style of lines / alternative timeframe: Choose the style of lines (e.g., solid or dotted) for the current and alternative timeframes.
- Timeframe label offset in bars from actual bar: Determines the offset of labels relative to the candles, improving visibility.
FAIR VALUE GAPS
- Show Fair Value Gaps: Activates the detection and display of fair value gaps (FVG), highlighting potential liquidity gaps.
FILTER SETTINGS
- Number of Previous Candles (Candle Pattern Strength): Specifies the number of previous candles to analyze to determine the strength of the candle pattern.
- Candle Size Multiplier (Candle Pattern Strength): Sets a multiplier for the candle size within the pattern to emphasize stronger patterns.
- RSI Period (RSI): Defines the period for the RSI indicator, used to analyze overbought/oversold conditions.
- Overbought Level (RSI), Oversold Level (RSI): Sets the RSI threshold values to identify potential trend reversal points.
- Minimum Volume (Volume): Specifies the minimum volume that must be reached to validate order blocks and breaker blocks.
This guide provides a comprehensive breakdown of the Institutional Order Finder (IOF) Lite Indicator settings, allowing you to customize and maximize the indicator’s functionality for optimal trading insights.
リリースノート
5x more lines in the Lite version
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