MELONA OB STRATEGY FORTH UPDATE TradingView

Currency Pairs: Any

Timeframes:  Any

Minimum Deposit: Any

Recommended Account Type: ECN or Raw Spread

Leverage: From 1:30 to 1:1000

Recommend broker: Roboforex
Recommend Vps: GoVPSFX
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MELONA OB STRATEGY FORTH UPDATE is an updated trading strategy for the TradingView platform designed to identify key market structures and trade entry opportunities based on Order Blocks (OB) and other technical elements. This strategy likely focuses on institutional levels where large players place their orders and uses them to predict price movements. The “FORTH” update may include improved filters, new settings, or the integration of additional tools such as Fair Value Gaps (FVG) or liquidity levels.

Key Features:
1. Order Blocks (OB) Detection:
– The strategy identifies Order Blocks zones – areas where institutional traders are likely to have placed large orders, creating potential support or resistance levels.
– OBs can be bullish (for buying) or bearish (for selling), depending on the market structure.

2. Fair Value Gaps (FVG):
– The indicator can detect Fair Value Gaps – price gaps that indicate an imbalance between supply and demand.
– These gaps are often filled by price, making them useful for predicting moves.

3. Liquidity Levels:
– The strategy may include analyzing liquidity levels, such as retail traders’ stop losses, which large players can use for manipulation.

4. Customizable Parameters:
– **Analysis Period:** The user can customize the period for determining OBs (e.g. 20 candles).
– **Tolerance:** Adjust the acceptable deviation to ensure that the candle or gap sizes meet the specified criteria.
– **Display Mode:** Ability to choose what to measure (candle body, wick or full range).

5. Visualization:
– Order Blocks are displayed on the chart as zones (e.g. green for bullish OB, red for bearish).
– FVGs can be marked as colored areas that disappear after being filled by price.
– Labels or arrows for entry and exit signals.

6. Entry and Exit Signals:
– Buy: Price reaches bullish OB, confirmed by additional factors (e.g. FVG or rising volume).
– Sell: Price reaches bearish OB, confirmed by similar factors.
– Stop loss and take profit can be set automatically based on a preset risk/reward ratio (e.g. 1:1.5).

How ​​to use:
– Add the strategy to the chart via the Pine Script editor in TradingView.
– Customize the parameters (period, tolerance, filters) depending on your trading style.
– Use signals to enter trades, but confirm them with additional analysis (e.g. support/resistance levels).
– Set up alerts to automatically notify you of signals.

Notes:
– Strategy performance may vary depending on market conditions and the timeframe you choose.
– It is recommended to test the strategy on historical data before using it in real trading.
– The strategy is not financial advice and should be used as part of a comprehensive analysis.