INVITE-ONLY SCRIPT
[A618] Liquidity Based RSI Candles
What is Liquidity Based RSI Candles
We all know markets and market makers work over liquidity concepts, Liquidity is what makes market cyclic and drives it!
The aim of this experimental Indicator is to identify the liquidation points and levels where the big players are actually playing, and conjure it by plotting over RSI Candles.
RSI Candles shows RSI indicator of period 13, in candlestick format
When you’re trading financial markets, liquidity needs to be considered before every position is opened or closed. This is because a lack and increase of liquidity is often associated with increased risk.
You need to be able to put probabilities in your favour, understanding liquidity levels in the market is always a good to know thing for one to judge / estimate whether the market is behaving according to the analysis or not.
How to use this Indicator
Red lines/ Area is high Liquidity Regions
Yellow lines/ Area is above average Liquidity Regions
Other lines(dotted) (blue/gray) are liquidity based Support and Resistances
**middle band which you see is the VWAP of RSI(High and Low)
Use it similar to how you use support and resistance breakouts/breakdowns
Where can I use this indicator
The indicator can be used over and Liquid security may it be Stocks, Forex, Bitcoins etc.
The ideal timeframes include 1m, 3m, 5m, 10m, 15m, 30m, 1H
How can you get this Indicator
Just do a private message to me. Please use comment box for only constructive Comments
We all know markets and market makers work over liquidity concepts, Liquidity is what makes market cyclic and drives it!
The aim of this experimental Indicator is to identify the liquidation points and levels where the big players are actually playing, and conjure it by plotting over RSI Candles.
RSI Candles shows RSI indicator of period 13, in candlestick format
When you’re trading financial markets, liquidity needs to be considered before every position is opened or closed. This is because a lack and increase of liquidity is often associated with increased risk.
You need to be able to put probabilities in your favour, understanding liquidity levels in the market is always a good to know thing for one to judge / estimate whether the market is behaving according to the analysis or not.
How to use this Indicator
Red lines/ Area is high Liquidity Regions
Yellow lines/ Area is above average Liquidity Regions
Other lines(dotted) (blue/gray) are liquidity based Support and Resistances
**middle band which you see is the VWAP of RSI(High and Low)
Use it similar to how you use support and resistance breakouts/breakdowns
Where can I use this indicator
The indicator can be used over and Liquid security may it be Stocks, Forex, Bitcoins etc.
The ideal timeframes include 1m, 3m, 5m, 10m, 15m, 30m, 1H
How can you get this Indicator
Just do a private message to me. Please use comment box for only constructive Comments
Script sur invitation seulement
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Instructions de l'auteur
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About me
AlgoTrading Certification, (University of Oxford, Säid Business School)
PGP Research Analysis, (NISM)
Electronics Engineer
→ ocstrader.com
→ bit.ly/ocs_ai_trader
About me
AlgoTrading Certification, (University of Oxford, Säid Business School)
PGP Research Analysis, (NISM)
Electronics Engineer
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.