Liquidation Levels with Liquidity Sweeps/Breakouts [AlgoAlpha]

29 Feb 2024

🌊📈 Dive into the depths of market liquidity with "Liquidation Levels with Liquidity Sweeps/Breakouts" - your ultimate tool for navigating the turbulent waters of trading! 🧹💹 Crafted by the wizards at AlgoAlpha, this Pine Script™ masterpiece illuminates the unseen liquidity levels and sweeps, guiding you through the financial seas with insight. 🚀🔍

Key Features:

• 🕒 Timeframe Flexibility: Customize your analysis with a TimeFrame Multiplier, allowing the indicator to operate on higher timeframes for broader market insight.
  
• 💥 Dynamic Volume Threshold: Set your sensitivity to breakouts with the High Volume Threshold, ensuring you catch significant market movements while avoiding fakeouts.
  
• 👀 Visibility Controls: Toggle the display of swept liquidity and highlight liquidity breakouts with customizable background colors for clear, actionable insights.
  
• 🎨 Custom Appearance: Personalize your chart with bullish, bearish, and breakout colors to match your trading style.
  

How to Use the Liquidity Levels with Liquidation Sweeps Indicator:

Maximize your trading efficiency with the Liquidity Levels with Liquidation Sweeps Indicator by following these simple steps! 🚀🌟

1. ⚙️ Customize Settings: Access the indicator settings to personalize the TimeFrame Multiplier, High Volume Threshold, and Relative Volume Period. Tailor these settings to match your trading strategy and chart preferences.
   https://www.tradingview.com/x/S4l9cbIH/
2. 👁️ Analyze Liquidity Levels: Monitor the chart for liquidity levels and sweeps. Bullish sweeps are marked with green labels, bearish sweeps with red, and breakouts highlighted by the chart background.
   
3. 🔔 Set Alerts: Enable alert conditions for liquidity breakouts and sweeps within the indicator's settings. This feature allows you to receive real-time notifications, helping you to act promptly on trading opportunities.
   

How It Works:
The heart of this indicator lies in its ability to track and highlight liquidity levels derived from swing pivots, and sweeps across multiple timeframes. By calculating relative volume against a user-defined threshold, it identifies strong volume movements indicative of liquidity breakouts, this helps filter out fake-outs. When a liquidity level is breached but not completely mitigated, it's either marked as a bullish or bearish sweep, which come with the option to show an estimate of the number of liquidations during the sweep.

Pine Script®

29 Feb 2024

Catatan Rilis

Updated the indicator title.

1 Mar 2024

Catatan Rilis

Fixed a Typo

24 Apr 2024

Catatan Rilis

Added option to remove mitigated levels from chart.