Ankit_1618

[A618] Liquidity Based RSI Candles

What is Liquidity Based RSI Candles

We all know markets and market makers work over liquidity concepts, Liquidity is what makes market cyclic and drives it!
The aim of this experimental Indicator is to identify the liquidation points and levels where the big players are actually playing, and conjure it by plotting over RSI Candles.

RSI Candles shows RSI indicator of period 13, in candlestick format

When you’re trading financial markets, liquidity needs to be considered before every position is opened or closed. This is because a lack and increase of liquidity is often associated with increased risk.
You need to be able to put probabilities in your favour, understanding liquidity levels in the market is always a good to know thing for one to judge / estimate whether the market is behaving according to the analysis or not.

How to use this Indicator

Red lines/ Area is high Liquidity Regions
Yellow lines/ Area is above average Liquidity Regions
Other lines(dotted) (blue/gray) are liquidity based Support and Resistances

**middle band which you see is the VWAP of RSI (High and Low)

Use it similar to how you use support and resistance breakouts/breakdowns

Where can I use this indicator

The indicator can be used over and Liquid security may it be Stocks, Forex, Bitcoins etc.
The ideal timeframes include 1m, 3m , 5m, 10m, 15m, 30m, 1H

How can you get this Indicator

Just do a private message to me. Please use comment box for only constructive Comments

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Ankit_1618 for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

Want to use this script on a chart?

Warning: please read before requesting access.

Masters in Quantitative Finance,
University of London .

Algorithmic Trading Certifications
University of Oxford, Säid Business School .

Electronics and Communications Engineer at core .

Happy to help, message me!

Comments

Please allow me access - Thank you.
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I CAN'T ACCESS THE INDICATOR CAN HELP :)
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Ankit_1618 guntacdurak
@guntacdurak, granted access
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guntacdurak Ankit_1618
@Ankit_1618, I REQUEST ACCESS PERMIT TO CODES TO WORK ON HELP
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guntacdurak Ankit_1618
@Ankit_1618, I TRADE AND I HAVE INTERESTED IN INDICATORS I LOVE TO WORK
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