Sometimes it is useless to keep some options when others do the same only better. This is why today we have removed:
-The classic support and resistance. (Ichimoku, Fibonacci and Trend Lines are already doing the job well)
-Reversal Engulfing Candle.
And the "Arrow forecasting" (when linear regression does better).
And for that, we integrated the OrderBlocks theory with its very complete Tooltip which goes with of course ;)
But here it is:
"OrderBlocks are areas where Banks take a Short or Long position. So they create a movement that they would like to hide from us, but luckily for us they cannot. Take the example of a Bank that opens a Short position for x reason. Price will fall and then make a Reversal (most often to the point where they opened their positions) and it is at this precise moment that they will again resume a Short position twice as large because for the moment, following this example it is not in their interest that the Price exceeds a certain Price since they are Seller. As a result they create a solid Resistance (the strongest it is). There are several ways to interpret this logic, we can try to follow the movement of Banks or on the contrary take advantage of the recovery of the course. By default the OrderBlocks are displayed to be visible on a Dark Background but you can modify this above in the "Customization" Category. Also note that to have the information concerning the OrderBlocks it is n ecessary to have the lvl2 as well as access to our Broker's notebook. So we can only make estimates from Supply and Demand.
Hope you enjoy knowing that we are always doing our best to improve and improve our metrics! And we thank you very much for your attention. So cheers!