HTF Liquidity Levels

█ OVERVIEW

The indicator introduces a new representation of the previous days, weeks, and months highs & lows (DWM HL) with a focus on untapped levels.


█ CONCEPTS

Untapped Levels
It is popularly known that the liquidity is located behind swing points or beyond higher time frames highs/lows (in a sense, an intraday swing point is a day high/low). These key areas are said "liquid" because of the accumulation of resting orders, mainly in the form of stop-loss orders. And this more significantly on higher time frames which have more time for stacking orders. As the result, the indicator aims to keep track of untapped levels that have their liquidity states intact.

Liquidity Pools
Once a liquidity level identified, or better, a cluster of liquidity levels work as magnets for the market. The price is more likely to make its way towards heavier pockets of liquidity, by proximity (the closest liquidity pool), and by difficulty (path with less obstacles). This phenomenon is referred as liquidity run, raid, purge, grab, hunt, sweep, you name it. Consequently, the indicator can help you frame a directional bias during your trading session.

█ NOTES

Drawings
Once a level is tapped, it is highlighted. At the end of each day, all tapped levels are cleared.

Versionsinformation:

v2.0

• Add intraday liquidity levels from 4H and 1H time frames (disabled by default)
  
• Expose new settings for customizing purged levels color and style
  
• Auto hide levels when the chart's time frame is higher
  

Versionsinformation:

v3.0

• Updated the liquidity levels with selectable timeframes
  
• Allowed configuring the removal period of the purged levels
  
• Added alerts