PT Liquidity

Version 1.0 of our Liquidity indicator helps determine areas where price might gravitate to fill liquidations. We have six levels of interest, broken down into three levels for shorts (highlighted in red) & three levels for longs (highlighted in green). Each level is labeled 25x, 50x, 100x. We added a cloud for a visual to assist in short/long liquidation zones. You want to be taking short setups at the top of the cloud when shorts get squeezed & taking long setups at the bottom of the cloud when longs get squeezed. The indicator has a proprietary formula that allows the levels to change based on volume and time frames. The levels are generated in real-time with a rolling VWMA.

Strategy:
If you are scalping, price tends to ping pong between the 50x & 100x longs (green) to 50x & 100x shorts (red). If we shift outside that zone, consider the trend to have changed. Look at a higher time frame (12h+) for trend direction. Price usually reverses when the daily takes all three liquidation levels. You want to see a strong reaction (wick) once we tap that last liquidation level.

This Oscillator was built around our buy sell indicator & it is used on all time frames for swinging & scalping. It is included as part of the library. Just message us for access!

Release Notes

V 2.0
- Major change to indicate visually what liquidity was taken.
- Added alerts for each liquidity level

You can now see where the most recent liquidity level was taken on each time-frame with labels. The indicator will only show one label per liquidity level for each long/short zone. This allows you to see where the past liquidity was taken to help you with an invalidation area for your setup.

Release Notes

V 2.1

- Optimized code

Release Notes

V 2.2

- Added toggles for long/short labels
- Pushed liquidity levels further away from candles

Release Notes

V 2.3

- Fixed glitch
- Added price for on liquidity levels

Release Notes

V 2.4

- Hide label input added - Cleaner charts.

Invite-only script

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Author's instructions

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patterntraders

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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.

Invite-only script

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Warning: please read our guide for invite-only scripts before requesting access.

patterntraders

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