OPEN-SOURCE SCRIPT
Hui-Heubel Liquidity Ratio
Updated
The Hui-Heubel Liquidity Ratio (lhh) is a measurement of market resiliency and liquidity. Higher values indicate a more liquid and resilient market, lower values indicate a more fragile market susceptible to volatile moves. It does not work on all tickers (for example, if something does not report volume).
Generally, you will see lhh rise when stocks sell off and fall when they are bought. Occasionally you will see scenarios where price will go up while lhh does as well, often this is a symptom of short covering.
Includes two configurable SMAs and a configurable lookback window.
Generally, you will see lhh rise when stocks sell off and fall when they are bought. Occasionally you will see scenarios where price will go up while lhh does as well, often this is a symptom of short covering.
Includes two configurable SMAs and a configurable lookback window.
Release Notes
Version 1.2- Updated MA lengths to correspond with default ELMo settings
- Added fill colors
Release Notes
Bump version to match ELMo. No changes.Release Notes
Update fill colors, function syntaxRelease Notes
Update imageRelease Notes
Visual updates.- LHH line made larger
- Conditional coloring of SMA lines
- Update fill colors
Release Notes
Minor fixes for accuracyRelease Notes
Added option to normalize valuesOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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