Rolling HTF Liquidity Levels [CHE]

3 Nov 2022

█ OVERVIEW

This indicator displays a Rolling HTF Liquidity Levels . Contrary to HTF Liquidity Levels indicators which use a fix time segment, Rolling HTF Liquidity Levels calculates using a moving window defined by a time period (not a simple number of bars), so it shows better results.

This indicator is inspired by

The indicator introduces a new representation of the previous rolling time frame highs & lows (DWM HL) with a focus on untapped levels.


█ CONCEPTS

Untapped Levels
It is popularly known that the liquidity is located behind swing points or beyond higher time frames highs/lows.

Rolling HTF Liquidity Levels uses a moving window, it does not exhibit the static of the HTF Liquidity Levels plots.



█  HOW TO USE IT


Load the indicator on an active chart (see the Help Center if you don't know how).


Time period

By default, the script uses an auto-stepping mechanism to adjust the time period of its moving window to the chart's timeframe. The following table shows chart timeframes and the corresponding time period used by the script. When the chart's timeframe is less than or equal to the timeframe in the first column, the second column's time period is used to calculate the Rolling HTF Liquidity Levels:

Chart Time
timeframe period

1min 🠆 1H
5min 🠆 4H
1H 🠆 1D
4H 🠆 3D
12H 🠆 1W
1D 🠆 1M
1W 🠆 ​3M

By default, the time period currently used is displayed in the lower-right corner of the chart. The script's inputs allow you to hide the display or change its size and location.

This indicator should make trading easier and improve analysis. Nothing is worse than indicators that give confusingly different signals.

I hope you enjoy my new ideas

best regards

Chervolino