Unmitigated Liquidity Imbalances [AlgoAlpha]

๐ŸŽ‰ Introducing the Unmitigated Liquidity Imbalance Indicator by AlgoAlpha! ๐ŸŽ‰

Dive into the depths of market analytics with our "Unmitigated Liquidity Imbalance" indicator. This tool harnesses unique algorithms to detect liquidity imbalances between bulls and bears, helping traders spot trends and potential entry and exit points with greater accuracy. ๐Ÿ“ˆ๐Ÿš€

๐Ÿ” Key Features:
  • ๐ŸŒŸ Advanced Analysis: Analyses candle direction and length to forecast market peaks and valleys.
  • ๐ŸŽจ Customizable Visuals: Tailor the chart with your choice of bullish green or bearish red to reflect different market conditions.
  • ๐Ÿ”„ Real-Time Updates: Continuously updates to reflect live market changes.
  • ๐Ÿ”” Configurable Alerts: Set up alerts for key trading signals such as bullish and bearish reversals, as well as trend shifts.

๐Ÿ“ How to Use:
  1. ๐Ÿ›  Add the Indicator: Add the indicator to your favourites and customize the settings to suite your needs.

  2. ๐Ÿ“Š Market Analysis: Monitor the oscillator threshold; readings above 0.5 suggest bullish sentiment, while below 0.5 indicate bearish conditions. And reversal signals are displayed to show potential entry points.

  3. ๐Ÿ”” Set Alerts: Enable notifications for reversal conditions or trend changes to seize trading opportunities without constant chart watching.

๐Ÿง  How It Works:
The core mechanism of the indicator is based on detecting changes in candlestick size and direction to identify bullish and bearish liquidity levels from the peak & valley indicator's logic. By comparing the length of a current candle to the previous one and checking the change in direction, it pinpoints moments where market sentiment could be shifting, indicating if the liquidity at that point is bullish or bearish. The script then looks at what percentage of the past few unmitigated levels are bullish or bearish based on a customizable lookback and determines the liquidity imbalance which can then be interpreted as trend.

Empower your trading with the Unmitigated Liquidity Imbalance indicator and navigate the markets with confidence and precision. ๐ŸŒŸ๐Ÿ’น

Happy trading, and may your charts be ever in your favour! ๐Ÿฅณโœจ

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Open-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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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