Current Hourly Open Liquidity with Sweep Detection

6 天前

Statistics indicate that if the current hourly candle reaches the high or low of the previous hourly candle, there is a strong likelihood that the price will return to the current hour's open, depending on how quickly the previous hour's high or low was swept. If the sweep occurs within the first 20 minutes, there is a 75% chance the current hour's open will be reached; if it takes between 21 and 40 minutes, the probability decreases to 50%; and if it takes longer than 41 minutes, the chance drops to 25%.

These statistics can help identify manipulation on the hourly timeframe and guide trade decisions accordingly. For instance, if the previous hourly high is taken within the first 20 minutes but the current hour's open is not reached, it may be wise to avoid long positions until it happens or consider short positions in the direction of the open liquidity, using your existing entry rules and risk management.

The indicator highlights the current hour's open with a line and label to visually represent that liquidity pool, adjusting the line's color based on whether and when the previous hour's high or low was tapped. Once the open is reached, the indicator can, depending on settings, remove the line and label from the chart (this is enabled by default) since the liquidity pool is no longer relevant, preventing chart clutter.

All colors, line widths, label text sizes, and colors can be customized.

4 天前

發行說明

Added ability to disable label by setting label template to an empty string
You can now also control label text, which allows inclusion of {{price}} - hourly open and {{time}} of the hourly candle (i.e. 12pm)

4 天前

發行說明

Added ability to control line style for hourly open

4 天前

發行說明

Fixed time to be in short Am/Pm format

3 天前

發行說明

Fine-tunning label position