The indicator marks the last fractal highs and lows (W,D,4H and 1H options) to help determine current market structure. The script was created to help with directional bias but also as a MTF visual aid for stop hunts/liquidity raids.
Liquidity areas are where we assume trader's stop losses would be when buying or selling. Liquidity lies above and below swing points and institutions need liquidity to fill large orders.
Monitor price action as it hits these areas for a potential reversal trade.
릴리즈 노트
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Alert function has been added for when price crosses a specified MS high/low. Also option to show previous broken highs/lows has been included.
릴리즈 노트
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Breach lines and more alert functions added
- Any level cross alert - Any level low cross alert - Any level high cross alert
릴리즈 노트
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Fixed error in code for alerts. Alerts once per breach and then resets for the next breach.
릴리즈 노트
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Monthly, 30m, 15m and 5m MS highs and lows option added.
Hey mate, check your levels as none of them correspond to the real Highs & Lows you're announcing. Ex: the 1h High & Low is showing the Daily High & Low level, the 4h level is showing the previous day High&Low and the Daily it's not even showing any level for that corresponding daily candle. From the coding it seems you're getting the values from the pivots and not the corresponding real highs & Lows. While correcting this give the option to have the level values instead of repeating the MS word all the time (you can easily get this with str.tostring combined with the syminfo.mintick to pass the values into the label. Would be easier to identify the levels if they have the values along side. Keep up the good work. P.S. - If you look at the chart you posted the Daily High happened 3 days in the past 2022-03-04 and is not the real Daily High candle of current day 2022-06-04. The same applies to Daily low, way back from the real Daily candle low. What you are measuring are Peaks High and Low for the ticker and not Highs&lows of the current day or at least call it another thing since they are not Daily High&Low. Take a closer look, tks
geneclash
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@Go-Zilla, hey mate, the indicator marks the "last or most recent" fractal high and low to current price, not the extreme high which is why its called market structure highs and lows
Go-Zilla
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@geneclash, Thanks, but as it is I do not see great value in it since they are not accurate on multiple time frames. tks anyway for the work
INSPIRE_TRADES
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How exactly do we use? like stop hunt ? for example if the cross m15high so its like liquidity taken?
geneclash
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@INSPIRE_TRADES, premium/discount, swing points, bias, depends how you use it