Market Flow Trend Lines & Liquidity [LuxAlgo]

2023년 12월 5일

The Market Flow Trend Lines & Liquidity indicator is a script that aims to automate key insights such as trend lines, liquidity zones, opening ranges, & gaps on the chart. The aim of this script is to provide a functional breakout trader toolkit with various familiar tools as well as unique capabilities to further improve the user experience.

🔶 USAGE

There are various methods for using the features within this script, even with the included take profit levels users can pre-define.



The dotted lines represent an Opening Range with levels we can use as support & resistance. This opening range can be traded within the levels; however, it can also be used to tell the sentiment of price to see how it reacts to it.

In the image below, we can see after price was holding above the Opening Range whilst printing bullish trendline breakout signals, it made its way to the TP level we enabled from within the indicator to calculate a potential level for taking profits in a breakout trade.



The Market Flow Trend Lines & Liquidity indicator's key feature reside within its multi-timeframe capabilities for the main trendlines, as well as its key zones for potential entries.



In the image above we can see multiple areas where multi-timeframe (1H) trendlines on the 30m chart acted as support & resistance, alongside the Liquidity Zones & Opening Range as optimal points of interest for a breakout trader.

🔶 SETTINGS

🔹Trendlines

• Trendlines Lookback: Determines the frequency of detected tops/bottoms used to construct trendlines.
  
• Slope: Trendlines slope, with higher values returning steeper trendlines.
  
• Timeframe: Trendline timeframe.
  

🔹Liquidity Zones

• Liquidity Lookback: Determines the frequency of detected tops/bottoms used to construct liquidity zones.
  

🔹Take Profits

Take profit settings. Up to 3 ATR based take profits can be enabled, with a numerical setting controlling the ATR multiplier.

🔹Opening Range

• From Time: 15min opening range starting time.
  
• Extend: Extension length of Opening Range lines (in bars).
  
  🔹Gap Imbalance
  • Gap Up: Display upward gaps.
    
  • Gap Down: Display downward gaps.
    
  
  
  🔹EMA
  • Show EMA: Displays an EMA on the chart.
    
  • EMA Length: Length of the displayed EMA.
    
  🔶 RELATED SCRIPTSLiquidity SwingsTrendlines with Breaks