EBA by bigmm

This indicator identifies potential market saturation points by monitoring bid and ask levels relative to their historical extremes. It displays BUY/SELL labels when current prices reach 90% of their 499-bar historical range, suggesting possible exhaustion of market orders.

Key Features:

• Works effectively on lower timeframes up to 1H
  
• BUY labels show percentage distance from the period's lowest ask
  
• SELL labels show percentage distance from the period's highest bid
  
• Maintains only the most recent signals for cleaner chart presentation
  
• Labels remain fixed to specific price/bar locations during zoom operations
  

Note: The percentage values represent how close the current price is to the historical extreme (0% = period low, 100% = period high), helping traders identify potential reversal zones based on order book dynamics.