OPEN-SOURCE SCRIPT
Market Structure and Liquidity Indicator
This indicator tracks the market structure by identifying the highest high and lowest low. It then calculates the area of interest by taking the average of these levels. Additionally, it calculates liquidity by dividing the volume by the range between the highest high and lowest low.
Please note that this is a basic example, and you can modify and enhance it according to your specific requirements and trading strategy. Remember to thoroughly backtest and validate any trading strategy or indicator before using it in live trading.
Please note that this is a basic example, and you can modify and enhance it according to your specific requirements and trading strategy. Remember to thoroughly backtest and validate any trading strategy or indicator before using it in live trading.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.