indicator · on price · open source

Discount Array (OB Cluster)

Deepwick · @deepwickv1Updated 2 Oct 2026▲ 0 users

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About

Discount Array stacks the bottom boundaries of recent bullish order blocks below the current price. Mirror of the premium array.

Plot the most recent maxObs bullish OB bottoms.
A cluster of OBs in a tight band = the institutional long zone.
Combine with a discount filter (price below 50% range) for highest-probability longs.

Source code

//@version=5
indicator("Discount Array (OB Cluster)", overlay=true)
swing = input.int(5, "Swing Length", minval=2, maxval=50)
maxObs = input.int(5, "Max OBs", minval=1, maxval=10)
lookback = input.int(30, "OB Lookback", minval=5, maxval=100)
ph = ta.pivothigh(high, swing, swing)
var float lastPh = na
var float prevPh = na
var float ob1 = na
var float ob2 = na
var float ob3 = na
var float ob4 = na
var float ob5 = na
if not na(ph)
    prevPh := lastPh
    lastPh := ph
if not na(lastPh) and not na(prevPh) and lastPh > prevPh
    found = false
    for i = 1 to math.min(lookback, swing * 4)
        if not found and close[i] < open[i]
            ob5 := ob4
            ob4 := ob3
            ob3 := ob2
            ob2 := ob1
            ob1 := low[i]
            found := true
            break
p_Bull_OB_1 = plot(ob1, "Bull OB 1", color=color.green, style=plot.style_linebr)
p_Bull_OB_2 = plot(ob2, "Bull OB 2", color=color.lime, style=plot.style_linebr)
p_Bull_OB_3 = plot(ob3, "Bull OB 3", color=color.lime, style=plot.style_linebr)
p_Bull_OB_4 = plot(ob4, "Bull OB 4", color=color.lime, style=plot.style_linebr)
p_Bull_OB_5 = plot(ob5, "Bull OB 5", color=color.lime, style=plot.style_linebr)
alertcondition(not na(ob1) and na(ob1[1]), "New bullish OB added", "Bullish OB added to discount array")

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