zathruswriter

Liquidity Candles

zathruswriter Uppdaterad   
Liquidity sweep might just be the single most important signal for traders to follow when looking for pullbacks and trend changes. Liquidity is almost always swept and stop losses are taken before the market makes a deeper pullback or the trend completely changes.

This indicator will allow you to check for candles which retrace large portion of their body size, which usually means that either stop losses were cleared at that candle's high/low price level or that a lot of take profits orders were executed there.

Next, the indicator looks for a similar candle which actually takes more stop losses above / below that first candle's extreme (high/low) and again retraces a large portion of its body size. This is usually a sign of a liquidity sweep and a signal for us that the trend will pull back towards the opposite direction - either for a short period of time or long-term.

You can also set alerts for the bullish / bearish liquidity sweeps, so you don't miss them as they occur in the market.
Release Notes:
This version brings a couple of quality of life improvements.

1) liquidity lines color can now be adjusted as per your needs
2) liquidity lines color can still be auto-colored by the liquidity type
3) potential breakout candles marking can now be switched off directly in settings
4) added the possibility to show a liquidity label (X)

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