The simplest order block is a single candle: one opposite-coloured bar immediately followed by a strong body that closes past it. The single candle order block indicator looks for exactly that pair, marks the block candle, and boxes it for the next twenty-five bars.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: Bullish OB, Bearish OB |
| Alerts | popup, push notification, email, sound |
| Inputs | 12 |
On screen
Boxes and two marks on price.
Lime boxes outline bullish blocks.
Red boxes outline bearish blocks.
`Bullish OB` prints lime under the block candle.
`Bearish OB` prints red over it.
`ArrowGapPoints` `15` sets the mark gap.
- Bullish OB: arrow, lime, width 2, arrow code 233
- Bearish OB: arrow, red, width 2, arrow code 234
How the plots get their values
Displacement
The next bar’s body must exceed `DispMult` `0.8` of an `AtrPeriod` `14` range and close above the block candle’s high.
Block candle
The candle just before that push must be bearish for a bullish block, or bullish for a bearish one.
Box
`ExtendBars` `25` sets how far each box runs right. Only blocks within `MaxZoneBars` `600` bars get a box.
Getting a signal from it
Lime marks sit under bullish block candles.
Red marks sit over bearish ones.
Each box spans one candle’s full range.
Marks appear once the push bar closes.
Many small blocks form in busy sessions.
Warm-up needs about fifteen bars.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
A newly confirmed block reports once its push bar closes. `EnableAlerts` is the master switch, with popup delivery the only route on by default.
Every Single Candle Order Block Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
AtrPeriod |
ATR period for displacement scale. Range window, `14`. | 14 |
DispMult |
Displacement body >= DispMult * ATR. Push body in ranges, `0.8`. | 0.8 |
ExtendBars |
Zone extension to the right (bars). Box length in bars, `25`. | 25 |
MaxZoneBars |
Only draw zones within N recent bars. History with boxes, `600`. | 600 |
Display settings
| Setting | What it does | Default |
|---|---|---|
ArrowGapPoints |
Arrow gap from candle (points). Mark gap in points, `15`. | 15 |
ShowZones |
Draw order-block rectangles. Draw block boxes, `true`. | on |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master alert switch, `true`. | on |
EnablePopup |
Popup, `true`. | on |
EnablePushNotify |
Phone route, `false`. | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
Speaker, `false`. | off |
SoundFile |
(see inputs panel) | alert.wav |
Placing it well
A 0.8-range push is common, so blocks form often on the hourly EURUSD screenshot. On M15 boxes stack up fast. On H4 each block reflects a meaningful push.
The trade-offs
A 0.8-range push is a light requirement.
Most single-candle blocks are never revisited.
There is no retest signal, only block marks.
Popup delivery is the only route on.
Copy the compiled Single Candle 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.
Download the Single Candle Order Block Indicator for MT4 and MT5
The zip holds the compiled Single Candle Order Block Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
What does DispMult 0.8 require of the push?
A candle body larger than eight tenths of the average range that also closes above the block candle’s high. Smaller pushes leave the candle unmarked.
Where does the lime mark sit relative to the push bar?
One bar before it, on the bearish block candle itself. The mark appears once the push bar closes past that candle, and it never moves after that point.
How long does ExtendBars 25 keep a box?
Twenty-five bars to the right of the block candle. After that the box ends, since single-candle blocks tend to lose relevance quickly once the market moves on.
Does a Bullish OB mark also signal a retest?
No. It marks and boxes blocks as they form. Watching for price to return to a box, and deciding what to do there, is left to you and your own rules.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Single Candle Order Block Indicator as one input. Always backtest before trading live.
Category: this is part of our Smart Money collection. Browse more Smart Money for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Share (finance) on Wikipedia.
- Additional market context is at ivolumes (VOLUMES) at the MQL5 Documentation.
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.