Japanese below / 日本語説明は英文の後にあります。 ------------------------- *This indicator is based on sbtnc's "HTF Liquidity Levels". It's a very cool indicator. thank you. It has 3 functions: visualization of HTF liquidity (with alert), candle color change when displacement occurs, and MSB (market structure break) line display.
=== Function description ===
1. HTF liquidity (with alert) Lines visualize the liquidity pools on the HTF bars. Alerts can be set for each TF's line. Once the price reaches the line, the line is repaint. To put it plainly, the old line disappears and a new line appears. The line that disappeared remains as a purged line. (It is also possible to hide the purged line with a parameter) The alert will be triggered at the moment the line disappears. An alert will be issued when you touch the HTF's liquid pools where the loss is accumulated, so you can notice the stop hunting with the alert. This alert is an original feature of this indicator.
The timeframe of the HTF can't modify. You can get Monthly, weekly, daily and H1 and H4. Each timeframe displays the 3 most recent lines. By narrowing it down to 3, it is devised to make it easier to see visually. (This indicator original)
2. Displacement Change the color display of the candlesticks when a bullish candle stick or bearish candle stick is attached. Furthermore, by enabling the "Require FVG" option, you can easily discover the FVG (Fair Value Gap). It is a very useful function for ICT trading.
3. MSB (market structure break) Displays High/Low lines for the period specified by the parameter. It is useful for discovering BoS & CHoCH/MSS, which are important in ICT trading.
=== Parameter description === - HTF LIQUIDITY - Daily … Daily line display settings (color, line width) - Weekly … Weekly line display settings (color, line width) - Monthly … Monthly line display settings (color, line width) - INTRADAY LIQUIDITY - 1H … 1H line display settings (color, line width) - 4H … 4H line display settings (color, line width) - PURGED LIQUIDITY … Display setting of the line once the candle reaches - Show Purge Daily … Daily purged line display/non-display setting - Show Purge Weekly … Weekly purged line display/non-display setting - Show Purge Monthly … Monthly purged line display/non-display setting - Show Purge 1H … 1H purged line display/non-display setting - Show Purge 4H … 4H purged line display/non-display setting - MARKET STRUCTURE BREAK - MBS - Loopback … Period for searching High/Low - DISPLACEMENT FOR FVG - Require FVG … Draw only when FVG occurs - Displacement Type … Displacement from open to close? or from high to low? - Displacement Length … Period over which to calculate the standard deviation - Displacement Strength … The larger the number, the stronger the displacement detected
Added option to choose when to refresh the purge line. For example, when you select it for "1M" it clean up each Monthly, so you can show the purge line when looking at weekly chart. (Default is "Daily")
Catatan Rilis
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Added input for liquidity line drawing start/end position on parameter. You can enter the offset from the latest bar.
Catatan Rilis
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Below is a description of the start/end offset and red/green break style settings.
Catatan Rilis
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Improved so that the number of liquidity lines that can be displayed can be changed with a parameter.
Catatan Rilis
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Fixed you can "Require FVG" selected.
Catatan Rilis
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Added notifications when displacement occurs function. You can choose it on TV alert setting.
i have back tested the indicator and it is very useful.
How do i use it? when price crosses H4 or Daily time frame liquidity, i wait for a market structure shift on M15 time frame. if i do not see a market structure shift and instead i see a yellow displacement candle, it is an indication that market wants to continue the trend.
Sir, I don't quite understand the offset function either, which paints a candle yellow?
Trader_Morry
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@krishina, This answer is same your another question.
krishina
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Hello sir, congratulations on the job. Sorry to bother you, I just have a question: what does "red break", red break, green break and green break mean in style settings ??
Trader_Morry
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@krishina, Thank you for your question. It's difficult to explain in text, so I've included a figure in the release notes.
Hi! Is it possible to add text labels to the HTF liquidity lines?
Trader_Morry
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@minvestments1, Thank you for your comment. Unfortunately, It cannot show the text label beside HTF liquidity lines. This is because it does not have a mechanism for showing text.
i have back tested the indicator and it is very useful.
How do i use it?
when price crosses H4 or Daily time frame liquidity, i wait for a market structure shift on M15 time frame. if i do not see a market structure shift and instead i see a yellow displacement candle, it is an indication that market wants to continue the trend.