MT5 ICT Order Block Refinement (OBR) Indicator Download - Free | Forex Indicator Download - MetaTrader 5 Resources

On August 1, 2025, in version 2, the indicator added alert/notification functionality

Using the ICT and Smart Money strategies, the Refined Order Block (OBR) indicator is a practical tool for traders to identify important price levels on the Meta Trader 5 (MT5) platform.

The OBR indicator plots bullish order blocks in green and bearish order blocks in brown on the chart, showing traders potential price reversal areas.

These areas typically include large institutional and bank orders, and when prices reach these levels, sharp and significant price movements often occur. Traders can use this information to enhance their trading strategies.

Order block refinement indicator table

Indicators at a glance

The Order Block Refinement indicator identifies and plots bullish order blocks in green and bearish in brown , clearly showing high value order blocks on the chart.

This indicator is designed to help ICT-style traders quickly identify order blocks and make orders more precise and effective trading decisions .

Bullish (OBR) MT5

On the daily XAUUSD (Gold) chart, the Refined Order Block indicator identifies and plots bullish order blocks as green rectangles, showing traders the key areas.

When price reaches these areas, it usually moves upward, indicating heavy buy orders from institutions and banks. This information can help traders identify better entry points and optimize their trading decisions.

Bearish Order Block MT5

The 1-hour USD/CHF chart's Refined Order Blocks (OBR) indicator identifies bearish order blocks . It draws them in brown , showing key market areas containing heavy institutional and bank orders.

When price reaches these areas due to heavy sell orders, there is often a violent reaction, causing the price to reverse quickly. These key areas can be beneficial for traders when making decisions in the market.

Order block refinement indicator settings (OBR)

Display Setting: Select display settings

• Color themes for charts and objects: Choose a theme from Light , Dark , and Auto .

General Settings: General settings

• How many candles to consider: Select the number of past candles to include in the calculation;
• Trend calculation type (ZigZag.Candle): Select ZigZag or Candles according to the calculation type ;
• Do you want to see the arrow for the first period? : Enable/disable the arrow display of the first cycle;
• Do you want to view order blocks? Turn on/off the display of order blocks;
• Order Block Mode: Select the order block mode from three options: Normal , Aggressive , or Invalid orders are blocked by new orders ;
• Invalid orders are blocked after the closing price is outside the following range: The area is completed until a new area is opened.

Conclusion

The Refined Order Block (OBR) indicator is a powerful and practical tool for ICT and Smart Money traders. This indicator accurately identifies important order blocks and plots bullish blocks in green and bearish blocks in brown on the chart.

These key areas help traders easily identify important market points where orders from large institutions and banks are placed, allowing them to make more informed trading decisions.