Order Blocks are great and you can actually use them in the Strategy Quant X software here: www.strategyquant.com
If you decide to buy it after the 14 day free trial here are some coupons.
The software simulator for MT4 I use to backtest: https://soft4fx.com/software/forex-simulator.php
In this Lesson 21, I will backtest the indicator:
by PZ called Order Blocks. Here is the link: https://www.pointzero-trading.com/Products/view/PZOrderBlock
- Available in MT4/MT5
- Non-repainting indicator.
This indicator can be used a primary indicator solely on its own or combine it with a complementing indictor.
In the video I backtest it on daily EURUSD Year 2020-2021
Rules I used:
- 2% risk
- 1.5ATR stop-loss
- take profit / exit on the opposing direction order block
- stop loss up to break-even when price moves size of order block.
Just add another filter (such as a continuation indicator) and I was in the EURUSD 30+% range on the same year.
My exact results 2020-21 results:
What exactly is an order block? Well, it is defined as a buying/selling signature that is left by larger forex institutions.
This is a great type of indicator that uses a different type of methodology different to oscillator indicators that calculate with averages.
If you already trade order blocks this gives you a definitive signal.
Buy it from PZ: https://www.pointzero-trading.com/Products/view/PZOrderBlock