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


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Disclaimer

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