Simple but effective script that displays Liquidity Premium/Discount areas in an adaptive way based on key Fibonacci levels. You can increase or decrease the 'Period' value in the Settings to adjust the gap between the lines as you see fit. By default the value is '46' which should suit most markets.
-The script contains Alerts which are triggered when a liquidity line is crossed by the price.
Good trading to all and don't forget, risk management remains the most important!
Release Notes
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-Alerts has been removed cause they are not useful for this script
Release Notes
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-Added some style options -Logic revision -Minor improvements
Release Notes
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-Code cleaning
Release Notes
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-Minor update
Release Notes
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-Default 'Period' option value has been set to 25 by default
Release Notes
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New Features:
Auto Period Selection: Added an option to automatically adjust the period based on the current timeframe for optimal liquidity analysis. This feature aims to enhance user experience by reducing manual adjustments when changing timeframes or markets.
Higher Timeframe Analysis: Integrated functionality to analyze and display liquidity levels from a higher timeframe on the current chart. This cross-timeframe analysis helps users identify broader market trends and potential liquidity zones more effectively.
Enhancements:
Tooltip Additions: Comprehensive tooltips have been added to all input options to provide users with clear, concise explanations, making the tool more accessible to both novice and experienced traders.
Code Structure and Readability: The entire script has been restructured for better readability and maintainability. Spaces and grouping have been optimized to make the code easier to navigate and understand.
Input Options Grouping: Inputs are now logically grouped into categories like "Period Settings", "Colors Settings", and "Styles Settings", improving the user interface and the customization process.
Technical Improvements:
Dynamic Period Calculation: The logic for auto-selecting the period has been refined to better match the liquidity analysis with the chart's timeframe, enhancing the indicator's accuracy.
Color Transparency for Higher Timeframe Data: Lines drawn based on higher timeframe data are now displayed with semi-transparency, distinguishing them from the current timeframe's data for better visual differentiation.
Optimized Fibonacci Level Calculations: The calculation of Fibonacci levels has been streamlined, and the logic for determining premium and discount liquidity levels has been improved for greater precision.
Bug Fixes and Optimizations:
Line Extension Logic: Revised the extension logic of the liquidity level lines to ensure they extend in the correct direction as specified by the user, eliminating previous inconsistencies.
Fractal Detection and Line Drawing: Enhanced the detection of fractals and the conditions under which liquidity lines are drawn or updated, increasing the reliability and performance of the indicator.
Summary
This update introduces significant enhancements to the "Expected Liquidity" indicator, focusing on user experience, analytical depth, and visual clarity. With the addition of auto period selection and higher timeframe analysis, alongside improvements in code structure and readability, the indicator is now more versatile and user-friendly. Tooltips and input grouping further aid in making the tool accessible to a wider range of users, from beginners to advanced traders. These changes are designed to provide users with a more powerful tool for identifying liquidity levels across different timeframes and markets.
please what time frame is best for this indicator for day trading
RickSimpson
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@superior4oton, I still use Higher TF for this indicator. (H1, H2, H4, Daily, Weekly).
Best Regards Rick
abdjo
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Hello
thank you for this nice indicator, but let me ask this question, it will be helpful for me and for people who read this answer.
what is the difference between your discount area/premium area and the discount/ premium of the smart money concept indicator? does the discount / premium area of your indicator is for liquidity only? not as demand /supply? if it's for liquidity, this means there is inducement around? this tells us to wait till the candles get down to the discount area or up to the premium area. right?
please could you confirm this or there is another explanation?
Regards
Peeps_100
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This is the simplest & one of if not the best indicator created. Traders just don’t realize how powerful this indicator is until they know what exactly moves the market. Thank you kind Sir for your skill,time,ingenuity & most of all your unwavering generosity to the community!!!
chernukhavladimir1973
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ДА!! Признаю!!! индикатор очень высокого уровня! 1 на 1000 . Достойно внимания ! Респект тебе ! И твоим трудам!