Engulfing & Liquidity v2

Hôm kia

This is a versatile technical analysis tool designed for traders who focus on candlestick patterns and major liquidity levels. This indicator highlights bullish and bearish engulfing candles on a specified timeframe, providing visual cues for potential trend reversals. Additionally, it identifies significant liquidity levels based on recent price action, enhancing traders' decision-making processes.

Key Features:

Engulfing Candle Detection:

The indicator detects and highlights bullish and bearish engulfing patterns, which are powerful reversal signals in price action trading.
Bullish engulfing candles are marked with a green box, while bearish engulfing candles are marked with a red box, making them easily distinguishable on the chart.
Major Liquidity Levels:

It identifies and displays major liquidity levels based on the highest highs and lowest lows over a defined period (default: 50 bars).
Users can choose to show these liquidity levels, which are depicted as solid horizontal lines on the chart, extending from the candle that created the liquidity level.
Customizable Colors:

Traders can customize the colors of the boxes and horizontal lines for both bullish and bearish signals. This allows for personalized visual representation to suit individual trading styles.
User-Friendly Interface:

The indicator features intuitive user input options, making it easy to enable or disable the display of liquidity levels and to select preferred colors.
Use Cases:

Trend Reversal Identification: Traders can utilize the engulfing candle highlights to spot potential trend reversals and make informed entry or exit decisions.
Liquidity Awareness: The horizontal lines indicating major liquidity levels help traders understand key price points where buying or selling pressure may increase, aiding in risk management and strategic planning.