Rejection Block + Void Indicator for MT5 — Free Download

The Rejection Block Indicator is a powerful tool designed for MetaTrader 5 users to identify market reversal zones effectively.

💎source :
https://tradingfinder.com/products/indicators/mt5/rejection-block-free-download/

💎free indicator download:
https://cdn.tradingfinder.com/file/237595/rb-void-ict-mt5-by-tflab.zip

By analyzing candle shadows, it automatically highlights rejection block areas where significant price reversals are likely to occur. Additionally, the indicator displays the Void (consumed portion) in gray; once fully consumed, it signifies that the level is no longer valid

Indicator Specifications

Functionality in Uptrend

In a 1-hour Bitcoin (BTC) price chart, the indicator identifies a low point and its corresponding candle shadow, plotting the rejection block area. As the price retraces during a corrective downtrend, it revisits this level, providing an optimal entry point for a buy position.

Functionality in Downtrend

On a 30-minute EUR/USD chart, the indicator detects a bearish rejection block. After a corrective upward movement, the price returns to this zone, offering a potential entry opportunity for traders.

Indicator Settings

• Display setting: Screen display configurations​MQL5
• Color theme of chart and object: Chart background color​MQL5
• Standard setting: Default parameters​MQL5 Community+2Trading
• Back candles check: Number of previous candles to review​MQL5
• The prefix of objects: Object naming prefix​
• Vertical line show permission: Toggle for vertical separator lines
• Show Level 1 trends: Display primary trend levels​Trading
• Show BOS & ChoCH level 1: Show Break of Structure and Change of
• Show Level 2 trends: Display secondary trend levels​MQL5
• Show BOS & ChoCH level 2: Show Break of Structure and Change of Character for Level 2​
• Show BOS & ChoCH level 2 label: Display labels for Level 2 BOS and
• Show RBs: Toggle for displaying Rejection Blocks​
• RBs used color: Color settings for Rejection Blocks​
• Invalid RBs with close beyond the zone: Invalidate Rejection Blocks if price closes beyond the zone​
• Invalid new zones with intersection: Invalidate new zones if they intersect with existing ones

Conclusion

The Rejection Block Indicator is an essential tool for traders aiming to identify key market reversal points. By analyzing candle shadows at price peaks and lows, it automatically delineates rejection block areas on the chart. This feature is particularly beneficial for liquidity-based and ICT-style traders, enhancing their strategic decision-making process.

FAQS

❓What is the Rejection Block Indicator, and how does it work?

This indicator identifies rejection block areas by analyzing the long shadows of candles at price peaks and lows, automatically plotting them on the chart.

❓Is this indicator available for download?
Yes, the Rejection Block Indicator is available for free download on Trading Finder.