Liquidity Lines

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Liquidity Lines Indicator
This advanced TradingView indicator identifies key liquidity zones on your price chart by detecting bullish and bearish engulfing candles, which often signify areas where liquidity accumulates. It helps traders visually spot potential support and resistance levels created by market participants’ stop-loss orders or pending orders.

Key Features:

-Aggregated Bars Option: Smooth out price data by grouping bars together, enabling clearer liquidity zone identification on higher timeframes or noisy charts.

-Upper Liquidity Lines: Displays dashed lines at recent highs where bearish engulfing patterns indicate potential resistance or supply zones.

-Lower Liquidity Lines: Displays dashed lines at recent lows where bullish engulfing patterns suggest potential support or demand zones.

-Customizable Colors: Choose your preferred colors for bullish (default black) and bearish (default white) liquidity lines for better visual distinction.

-Automatic Line Cleanup: Maintains chart clarity by automatically removing old liquidity lines after a configurable limit.

-Dynamic Alerts: Trigger alerts when price breaches upper or lower liquidity lines, signaling potential breakout or reversal opportunities.

Use Cases:

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Line calculations updated for accuracy

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Updated labels within script

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Aggregation logic updated

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Line Width updated for visual clarity