ππ Dive into the depths of market liquidity with "Liquidation Levels with Liquidity Sweeps/Breakouts" - your ultimate tool for navigating the turbulent waters of trading! π§ΉπΉ Crafted by the wizards at AlgoAlpha, this Pine Scriptβ’ masterpiece illuminates the unseen liquidity levels and sweeps, guiding you through the financial seas with insight. ππ
Key Features:
- π Timeframe Flexibility: Customize your analysis with a TimeFrame Multiplier, allowing the indicator to operate on higher timeframes for broader market insight.
- π₯ Dynamic Volume Threshold: Set your sensitivity to breakouts with the High Volume Threshold, ensuring you catch significant market movements while avoiding fakeouts.
- π Visibility Controls: Toggle the display of swept liquidity and highlight liquidity breakouts with customizable background colors for clear, actionable insights.
- π¨ Custom Appearance: Personalize your chart with bullish, bearish, and breakout colors to match your trading style.
How to Use the Liquidity Levels with Liquidation Sweeps Indicator:
Maximize your trading efficiency with the Liquidity Levels with Liquidation Sweeps Indicator by following these simple steps! ππ
- βοΈ Customize Settings: Access the indicator settings to personalize the TimeFrame Multiplier, High Volume Threshold, and Relative Volume Period. Tailor these settings to match your trading strategy and chart preferences.
- ποΈ Analyze Liquidity Levels: Monitor the chart for liquidity levels and sweeps. Bullish sweeps are marked with green labels, bearish sweeps with red, and breakouts highlighted by the chart background.
- π Set Alerts: Enable alert conditions for liquidity breakouts and sweeps within the indicator's settings. This feature allows you to receive real-time notifications, helping you to act promptly on trading opportunities.
How It Works:
The heart of this indicator lies in its ability to track and highlight liquidity levels derived from swing pivots, and sweeps across multiple timeframes. By calculating relative volume against a user-defined threshold, it identifies strong volume movements indicative of liquidity breakouts, this helps filter out fake-outs. When a liquidity level is breached but not completely mitigated, it's either marked as a bullish or bearish sweep, which come with the option to show an estimate of the number of liquidations during the sweep.
if peakform and peakprinted != 1
aR.push(line.new(bar_index-mult, h.get(1), bar_index+1, h.get(1), color = red))
aRv.push(h.get(1))
peakprinted := 1
if valleyform and valleyprinted != 1
aS.push(line.new(bar_index-mult, l.get(1), bar_index+1, l.get(1), color = green))
aSv.push(l.get(1))
valleyprinted := 1