The kt order block indicator looks for a decisive candle, then boxes the one before it. A body over `StrongMoveMult` `1.5` times the range reading counts as decisive. The last opposite candle behind it becomes the block.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: Bull OB Arrow, Bear OB Arrow |
| Alerts | popup |
| Inputs | 8 |
Drawn output, plot by plot
Rectangles cover each block, steel blue for bullish and fire brick for bearish.
`Bull OB Arrow` uses arrow 233 in dodger blue.
`Bear OB Arrow` uses arrow 234 in tomato.
Every box projects `BoxExtendBars` `25` bars into the future.
- Bull OB Arrow: arrow, dodger blue, width 2, arrow code 233
- Bear OB Arrow: arrow, tomato, width 2, arrow code 234
How it builds its numbers
What counts as a strong move
iATR at `ATRLength` `14` gives the yardstick. The candle body has to exceed `StrongMoveMult` `1.5` times that reading. Tying the test to range keeps it working across instruments.
Finding the block itself
The code walks backward from the strong candle until it meets one closing the other way. That candle is the block, and its high and low set the box edges.
Housekeeping
`LookbackBars` `600` bounds the scan and `MaxBoxes` `60` caps how many rectangles stay on the chart. Older boxes drop off as new ones arrive.
How to use what it draws
A box shows where the move started, not where it went.
Colour separates the two directions at a glance.
Arrows sit twenty points clear of the strong candle, not the box.
A box that price has already run through still stays drawn.
Alert channels in this build: popup, one message per closed bar.
A single route ships here. `EnableAlerts` starts true and posts a terminal message when a fresh block appears. There is no phone, mail or sound option in this build. The guard reads closed bars only.
Every Kt Order Block Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
ATRLength |
ATR length. Bars in the range yardstick, default `14`. | 14 |
StrongMoveMult |
Strong move = body > MULT * ATR (KT: 1.5x). How many range units the body must exceed, default `1.5`. | 1.5 |
LookbackBars |
How many bars to scan. How much history the scan covers, default `600`. | 600 |
MaxBoxes |
Max rectangles kept. How many rectangles stay drawn, default `60`. | 60 |
BoxExtendBars |
Project rectangle this many bars forward. Bars a box projects forward, default `25`. | 25 |
Display settings
| Setting | What it does | Default |
|---|---|---|
BullBoxColor |
Fill for a bullish block, default `clrSteelBlue`. | steel blue |
BearBoxColor |
Fill for a bearish block, default `clrFireBrick`. | fire brick |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Terminal message on a fresh block, default `true`. | on |
Which timeframe to use
Blocks want candles with real bodies. EURUSD H1 is the reference chart, where `LookbackBars` `600` reaches back about a month. On M1 few bodies clear the range test. H4 gives fewer blocks that last much longer.
When to distrust it
Nothing tracks whether price came back and used a block, so old boxes pile up.
`StrongMoveMult` `1.5` is a single threshold, and a move just under it gets nothing.
The block is the last opposite candle, which is a rule of thumb rather than a fact about orders.
Copy the compiled Kt Order Block Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Background reading on the method behind the Kt Order Block Indicator: Order book on Wikipedia, Deathcross at Investopedia.
Download the Kt Order Block Indicator for MT4 and MT5
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FAQ
What does StrongMoveMult 1.5 measure against?
The fourteen-bar range reading. A candle body has to exceed one and a half of those units to count as a strong move. Tying it to range rather than points keeps the test working on any instrument.
How does the tool pick the block candle?
It steps backward from the strong candle until it finds one that closed the other way. That candle becomes the box. It is a common convention rather than anything the market publishes.
What does BoxExtendBars 25 do?
It projects each rectangle twenty-five bars into the future so the level stays visible ahead of price. The box does not grow after that, so an older block eventually falls behind the current candle.
Why does MaxBoxes 60 exist?
To stop a long history filling the chart with rectangles. Sixty is already a busy screen. When the limit is reached the oldest box drops off, which keeps the terminal responsive.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Kt Order Block Indicator as one input. Always backtest before trading live.
Category: this is part of our Smart Money collection. Then, plainly, browse more Smart Money for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see Order book on Wikipedia.
- For broader market context, see Deathcross at Investopedia.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.