SMC Order Block Detector with Alert for MT5

Related: Footprint X Ray: Advanced Order Flow and Volume Delta Analysis - another powerful indicator for MetaTrader 5 traders.

Technical Workflow and Architecture This indicator operates on an event-driven and sequential calculation pipeline inside the OnCalculate and OnTimer functions. Below is the step-by-step execution flow: - Initialization Sets chart digits precision dynamically using Digits. Clears any legacy drawing objects prefixed with SMC_OB_ to ensure a clean slate. Initializes global variables, structural validation buffers, and state tracking arrays. - Historical Iteration and Optimization The engine loops through historical rates starting from prev_calculated - 1 to ensure efficient incremental updates without reprocessing the entire chart history. Price Filter Optimization: To save CPU cycles, the loop evaluates whether current price action exceeds prev_valid_high or prev_valid_low. If price stays within boundaries, minor updates are skipped. - Pivot and Structure Tracking Utilizes a rolling 3-bar structural window to track swing points dynamically using absolute timestamps rather than volatile bar indices. This guarantees absolute positioning stability across terminal reloads and timeframe switches. - Order Block Detection and Filtering Logic Bullish OB: Identified when a lower low is followed by an impulsive displacement breaking above the lower low, leaving a measurable Fair Value Gap. Bearish OB: Identified when a higher high is followed by a displacement breaking below the higher high. Overlap and Nested Filtering: When a new OB forms inside an existing zone, the engine compares their FVG sizes and automatically deactivates the weaker/smaller block. - Mitigation Management Continuously scans historical and live bars against active OB boundaries. Supports dual mitigation modes: - Mitigation by Body: Deactivates the OB if a candle closes beyond its opposite boundary. - Mitigation by Wick: Deactivates the OB the moment a wick penetrates the boundary. - Real-Time Tick Engine and Alert Mechanism On every incoming tick, the engine monitors the live bar using the real-time Bid price. Checks for price crossings against active Bullish and Bearish OB zones. Incorporates a bar-based cooldown filter to prevent duplicate alert spam when price lingers inside an OB zone. - Graphical Rendering Manages rectangle objects and text labels dynamically. Respects the maximum limit set, automatically cleaning up expired or mitigated visual zones to keep the chart clutter-free.

Also recommended: unmitigated order block matrix for institutional trading - similar indicator with strong performance on MetaTrader 5.

You may also like: i-orders: indicator for visualizing deal history in mt5 - excellent alternative for indicator users on MetaTrader 5.

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.00"
#property indicator_chart_window
#property indicator_buffers 0
#property indicator_plots   0
enum ENUM_MITIGATION {
    MITIGATION_BODY,
    MITIGATION_WICK
};

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• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.