🎉 Introducing the Unmitigated Liquidity Imbalance Indicator by AlgoAlpha! 🎉
Dive into the depths of market analytics with our "Unmitigated Liquidity Imbalance" indicator. This tool harnesses unique algorithms to detect liquidity imbalances between bulls and bears, helping traders spot trends and potential entry and exit points with greater accuracy. 📈🚀
🔍 Key Features:
🌟 Advanced Analysis: Analyses candle direction and length to forecast market peaks and valleys.
🎨 Customizable Visuals: Tailor the chart with your choice of bullish green or bearish red to reflect different market conditions.
🔄 Real-Time Updates: Continuously updates to reflect live market changes.
🔔 Configurable Alerts: Set up alerts for key trading signals such as bullish and bearish reversals, as well as trend shifts.
📐 How to Use:
🛠 Add the Indicator: Add the indicator to your favourites and customize the settings to suite your needs.
📊 Market Analysis: Monitor the oscillator threshold; readings above 0.5 suggest bullish sentiment, while below 0.5 indicate bearish conditions. And reversal signals are displayed to show potential entry points.
🔔 Set Alerts: Enable notifications for reversal conditions or trend changes to seize trading opportunities without constant chart watching.
🧠 How It Works: The core mechanism of the indicator is based on detecting changes in candlestick size and direction to identify bullish and bearish liquidity levels from the peak & valley indicator's logic. By comparing the length of a current candle to the previous one and checking the change in direction, it pinpoints moments where market sentiment could be shifting, indicating if the liquidity at that point is bullish or bearish. The script then looks at what percentage of the past few unmitigated levels are bullish or bearish based on a customizable lookback and determines the liquidity imbalance which can then be interpreted as trend.
Empower your trading with the Unmitigated Liquidity Imbalance indicator and navigate the markets with confidence and precision. 🌟💹
Happy trading, and may your charts be ever in your favour! 🥳✨
Like this indicator so much and tried to use it using last week trade. Encountered the following problem: study error - error on bar 11302: cannot call ‘ first()’ if array is empty. at #main ():87. Unfortunately I don’t know coding, but hope this information will be useful for you. Thanks.
AlgoAlpha
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@Fc0304, Increasing the period settings should fix the problem
Fc0304
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@AlgoAlpha, Thank you so much for getting back to me. Yes, the indicator works beautifully with longer time periods like 15 minutes chart. Often times I am very interested in much shorter time frames like 1 minute and sometimes even 10 seconds. Unfortunately that’s when I have difficulty getting the data. Wondering if that would be possible for you to consider much shorter time frames like one minute or so? It’s okay if not. Thanks very much for all your help!
AlgoAlpha
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@Fc0304, Sometimes the indicator will not work as no unmitigated liquidity has formed yet so unfortunately there's nothing that can be done except to increase the indicator length from 33 to something larger
Fc0304
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@AlgoAlpha, Got it. Thanks so much. Greatly appreciate your help!
Fc0304
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Nice indicator. Like it. Unfortunately couldn’t get data sometimes, especially the time frame less than one minute. Thanks for all your wonderful work.