The Order Block with Chandelier strategy offers a systematic approach to trading, leveraging the Order Block Detector and Chandelier Exit indicators on the TradingView platform. This strategy excels across multiple timeframes, providing traders with clear buy and sell signals based on key support and resistance levels.
Indicators:
Order Block Detector (Lux Algo): Identifies key support and resistance areas marked by green (support) and red (resistance) zones.
Chandelier Exit (5, 1.9) (everget): Provides dynamic exit signals based on recent highs/lows, complementing the Order Block signals.
Search for indicators in TradingView > Indicators > Community Scripts > write in search (Order Block Detector)<>(Chandelier Exit).
Trading Rules
Buy
Price bounce on a green support area identified by the Order Block Detector.
Buy arrow signal from the Chandelier Exit indicator.
Enter at the open of the next bar following the buy signal..
Sell
Price bounce on a red resistance area identified by the Order Block Detector.
Sell arrow signal from the Chandelier Exit indicator.
Enter at the open of the next bar following the sell signal.
Optional: Re-enter in the direction of support/resistance areas.
Exit Position
Set initial stop-loss above/below the support/resistance area.
Aim for a profit target with a minimum ratio of 1:1.2 relative to the stop loss.
Conclusion
The Order Block with Chandelier strategy offers a concise and effective approach to trading, emphasizing clear entry and exit signals based on support and resistance levels. By harnessing the power of these indicators, traders can navigate the markets with precision and confidence across various timeframes.
Download
https://drive.google.com/file/d/1salAA7y911-o6geKuE5lSYyWjOruFCZn/view?usp=sharing
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