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Waypoint Smart Money · Sierra Chart study

Order Blocks

Order blocks and breaker blocks from structure breaks, on any timeframe, scored against random levels.

Order Blocks draws order blocks and breaker blocks on your chart: the last opposite candle before a break of market structure, boxed and extended right until price closes through it. Blocks form, flip and end on closed bars only, so nothing that has been drawn changes later, and they can be built from a higher timeframe on the same chart. A built-in scorecard lets you check on your own chart whether the blocks did any better than random levels. It draws and alerts; it places, changes and cancels no orders.

Waypoint Order Blocks on an NQ 5-minute chart over several days: orange bearish breaker blocks extended right below price, labelled with their swing layer, CHoCH or MSS origin and how many times they were touched.
Order Blocks on a Sierra Chart chart. Settings and colours are inputs.

What the study does

  • Order blocks at every structure break. On a bullish break of a swing high, the last bearish candle before the move's low becomes a bullish block (support); bearish breaks mirror this.
  • Breaks from swing structure (Swing Pivot Length, default 10), internal structure (Internal Pivot Length, default 3) or both, confirmed by a close or, by input, a wick beyond the swing.
  • The zone is the candle's full range or its body. One block per candle and side: a second break that lands on the same candle adds its layer to the existing block.
  • Optional filters: a fair value gap in the leg up to the break, and a displacement candle on the break (body at least 1x ATR by default).
  • Fresh and touched colours: a block changes colour at its first touch, when a wick reaches its near edge. A close beyond the far edge invalidates it, and by default turns it into a breaker block of the opposite side, in its own colour, until a close back through.
  • Study Timeframe in Minutes builds everything from a higher timeframe on the same chart, for example 15 on a 1-minute chart. Periods are cut from the 18:00 New York Globex day, and 1440 is the whole Globex day.
  • Labels with side, layer (swing, internal or swing+int), origin (BOS, CHoCH or MSS) and fresh or touched N. The nearest 5 blocks and 3 breakers per side are drawn, with optional dead blocks.
  • Alerts for a new block, a block touch and a new or touched breaker, plus hidden subgraphs for the nearest bullish and bearish block (top, bottom, mid) and each event, for spreadsheets and other studies.
  • A scorecard: each block's first touch is traded on paper (limit at the near edge, stop 1 tick past the far edge, 2R target, time exit) against 3 random levels of the same side and height. Breakers are scored separately.

What you need

  • Any intraday chart. With a Study Timeframe set, use a bar size that divides it, such as 1-minute bars for 15-minute blocks.
  • For the most exact scorecard, a 1-minute chart with Study Timeframe in Minutes set (for example 15).
  • With a Study Timeframe above 0, the chart's time zone set correctly in Sierra Chart, because the periods are cut in New York time.
  • A back-adjusted continuous contract for long history, so a roll is not read as a price move.

Set it up in Sierra Chart

  1. Step 1: Buy and download

    Buy this study on its own here, or all eight Waypoint Smart Money studies at once from the Smart Money page (one .zip with every DLL). Checkout is a one-time payment. As soon as it is confirmed, the page Stripe returns you to has a Download button, and the receipt email carries the same link. Extract the .zip to any folder. It holds WaypointOrderBlocks_64.dll, plus a short INSTALL.txt.

  2. Step 2: Unblock the DLL

    Right-click WaypointOrderBlocks_64.dll > Properties. If the General tab shows an "Unblock" box, tick it, then click OK. Windows' Smart App Control can still refuse an unsigned DLL. If it does, the study is missing from the Add Custom Study list, or Sierra Chart's Message Log shows a loading error with the code 4551. Turning Smart App Control off is your own decision.

  3. Step 3: Copy it into Sierra Chart's Data folder

    Copy WaypointOrderBlocks_64.dll into Sierra Chart's Data folder. On a default install that is C:\SierraChart\Data. Otherwise it is the Data folder inside wherever Sierra Chart is installed.

  4. Step 4: Add the study to a chart

    Open the chart, then Analysis >> Studies >> Add Custom Study. Find the group "Waypoint Order Blocks", select "Waypoint Order Blocks", click Add, then OK. If the group is not in the list, restart Sierra Chart and look again.

  5. Step 5: Pick the study timeframe

    Open the study's Settings. Leave Study Timeframe in Minutes at 0 to build blocks from the chart's own bars, or set a higher timeframe such as 15 or 60 on a 1-minute chart. The periods are cut from 18:00 New York, so the study converts the chart's times to New York time first. New York Time From (default: Built-in New York DST rules) reads your chart's time zone from Sierra Chart. On a chart with no readable zone, choose the fixed offset and set Chart Time Zone Offset From New York.

  6. Step 6: Choose your rules

    Set Order Blocks From (swing structure by default, internal, or both), Structure Break Confirmed By (a close by default, or a wick) and Order Block Zone (full candle range or candle body). Turn on Require a Fair Value Gap in the Leg or Require a Displacement Candle on the Break if you only want blocks behind a strong move.

  7. Step 7: Read the panel

    The scorecard panel sits in the bottom-left corner by default (Panel Position moves it). It shows trades, average R and win rate for the order blocks and for their random levels, and the same for breakers. Once there are 30 trades of each it says whether the blocks beat random levels, did worse, or showed no evidence of a difference. On chart bars it also notes that a bar spanning stop and target is decided from its open.

  8. Step 8: Check that it loaded

    Open Window >> Message Log. Look for a line that starts with "Waypoint Order Blocks BUILD", followed by the build date and time. That line proves the study loaded. With Study Timeframe in Minutes above 0, a "Waypoint Order Blocks time check" line also says whether Sierra's time-zone conversion and the study's own New York rules agree on your chart. If that line is logged as an error, switch New York Time From to the conversion that is right for your chart.

Settings to check first

Open them with a right-click on the chart, then Studies, select the study and press Settings.

Study Timeframe in Minutes (0 = chart bars, 1440 = daily)
Builds blocks from a higher timeframe on the same chart, cut from 18:00 New York; 1440 is the Globex day. Default 0 (chart bars).
Order Blocks From
Swing structure (default), Internal structure, or Swing + internal structure. Swing Pivot Length defaults to 10 and Internal Pivot Length to 3.
Structure Break Confirmed By
Close beyond the swing (default) or Wick beyond the swing.
Order Block Zone
Full candle range (default) or Candle body.
Require a Fair Value Gap in the Leg
Keeps only blocks whose leg to the break holds a gap in the break's direction. Default No, with FVG Minimum Size (ticks) at 1.
Require a Displacement Candle on the Break
Keeps only blocks whose break candle has a large body. Default No. Displacement / MSS Body (x ATR) defaults to 1.0 with ATR Length 14; it also sets when a CHoCH is labelled MSS.
Turn Invalidated Blocks into Breaker Blocks
A block closed through flips into a breaker of the opposite side. Default Yes.
Show Scorecard (blocks vs random levels on this chart)
Shows the scorecard panel. Default Yes, with a 2R target, a 40-bar time exit on the study timeframe, a 1-tick cost and 3 random levels per block.

Good to know

  • A charting and context tool, not a signal service. It makes no claim that order blocks forecast price.
  • Waypoint's own tests at default settings found order blocks and breaker blocks did no better than random levels of the same side and height after costs. The scorecard is there so you can check this on your own chart.
  • The scorecard grades one fixed rule on chart bars. A bar that spans the stop and target is decided by which is nearer its open, so a 1-minute chart with a Study Timeframe grades most exactly. It is a paper check of this chart's history, not a backtest of your strategy and not a forecast.
  • A block appears only when its break is confirmed: a swing counts once Swing Pivot Length bars have closed after it, and the block is drawn on the close of the bar that breaks it.
  • Order block definitions vary between traders. The study uses one fixed set of written rules, with the main choices as inputs.
  • On an unadjusted continuous contract, the jump at each roll is treated as real price. Use a back-adjusted contract.
  • It places, changes and cancels no orders.

How it was tested. The engine was compiled exactly as shipped and compared block by block, bar by bar and trade by trade with an independent reference written from the rules, on years of NQ, ES and CL 1-, 15- and 60-minute data in fourteen configurations, including higher timeframes built from 1-minute bars. The forming-bar copy was checked on every chart bar, and deliberately planted bugs test the corner cases.

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