OPEN-SOURCE SCRIPT
Optimized Liquidity Squeeze Indicator
The "Optimized Liquidity Squeeze Indicator" is designed to detect potential bullish and bearish liquidity squeezes by analyzing price wicks and EMA trends.
Key Components:
Wick Multipliers
User-defined multipliers for upper and lower wick sizes to identify significant wicks in relation to the candle body.
EMA Calculations
Uses 21-period and 50-period EMAs of the closing price to gauge trend direction.
The slope of the 21 EMA is also calculated, using a threshold to approximate a 45-degree angle.
Trend and Slope Conditions
Bullish trend if 21 EMA is above the 50 EMA, and bearish if below.
Bullish and bearish slopes are defined based on the EMA's direction and threshold.
Wick Conditions:
Bullish Upper Wick Condition
Checks for a candle with an upper wick at least a certain multiple of the body size, above the 21 EMA, with a bullish EMA slope.
Bearish Lower Wick Condition: Checks for a candle with a lower wick at least a certain multiple of the body size, below the 21 EMA, with a bearish EMA slope.
Signal Plotting and Alerts
Displays green circles above bars for bullish signals and red circles below bars for bearish signals.
Alerts are set for both bullish and bearish conditions, indicating when significant upper or lower wicks appear along with EMA slope direction.
This indicator visually highlights potential squeeze points where market liquidity may shift, aiding in trend-based entries or exits.
Key Components:
Wick Multipliers
User-defined multipliers for upper and lower wick sizes to identify significant wicks in relation to the candle body.
EMA Calculations
Uses 21-period and 50-period EMAs of the closing price to gauge trend direction.
The slope of the 21 EMA is also calculated, using a threshold to approximate a 45-degree angle.
Trend and Slope Conditions
Bullish trend if 21 EMA is above the 50 EMA, and bearish if below.
Bullish and bearish slopes are defined based on the EMA's direction and threshold.
Wick Conditions:
Bullish Upper Wick Condition
Checks for a candle with an upper wick at least a certain multiple of the body size, above the 21 EMA, with a bullish EMA slope.
Bearish Lower Wick Condition: Checks for a candle with a lower wick at least a certain multiple of the body size, below the 21 EMA, with a bearish EMA slope.
Signal Plotting and Alerts
Displays green circles above bars for bullish signals and red circles below bars for bearish signals.
Alerts are set for both bullish and bearish conditions, indicating when significant upper or lower wicks appear along with EMA slope direction.
This indicator visually highlights potential squeeze points where market liquidity may shift, aiding in trend-based entries or exits.
Mã nguồn mở
Theo tinh thần TradingView thực sự, tác giả của tập lệnh này đã xuất bản dưới dạng nguồn mở để các nhà giao dịch có thể hiểu và xác minh. Chúc mừng tác giả! Bạn có thể sử dụng miễn phí. Tuy nhiên, bạn cần sử dụng lại mã này theo Quy tắc nội bộ. Bạn có thể yêu thích nó để sử dụng nó trên biểu đồ.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.