PROTECTED SOURCE SCRIPT
Engulfing & Liquidity
Обновлено
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.
Conclusion: The "Engulfing Candle Highlighter with Customizable Liquidity Levels" is a valuable tool for both novice and experienced traders, combining candlestick pattern recognition with liquidity analysis. By visually emphasizing important market signals and allowing for color customization, this indicator enhances the trading experience and aids in the development of effective trading strategies.
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.
Conclusion: The "Engulfing Candle Highlighter with Customizable Liquidity Levels" is a valuable tool for both novice and experienced traders, combining candlestick pattern recognition with liquidity analysis. By visually emphasizing important market signals and allowing for color customization, this indicator enhances the trading experience and aids in the development of effective trading strategies.
Информация о релизе
updated with alerts
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.