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Optimized Liquidity Squeeze Indicator
The "Optimized Liquidity Squeeze Indicator" is designed to detect potential bullish and bearish liquidity squeezes by analyzing price wicks and EMA trends.
Key Components:
Wick Multipliers
User-defined multipliers for upper and lower wick sizes to identify significant wicks in relation to the candle body.
EMA Calculations
Uses 21-period and 50-period EMAs of the closing price to gauge trend direction.
The slope of the 21 EMA is also calculated, using a threshold to approximate a 45-degree angle.
Trend and Slope Conditions
Bullish trend if 21 EMA is above the 50 EMA, and bearish if below.
Bullish and bearish slopes are defined based on the EMA's direction and threshold.
Wick Conditions:
Bullish Upper Wick Condition
Checks for a candle with an upper wick at least a certain multiple of the body size, above the 21 EMA, with a bullish EMA slope.
Bearish Lower Wick Condition: Checks for a candle with a lower wick at least a certain multiple of the body size, below the 21 EMA, with a bearish EMA slope.
Signal Plotting and Alerts
Displays green circles above bars for bullish signals and red circles below bars for bearish signals.
Alerts are set for both bullish and bearish conditions, indicating when significant upper or lower wicks appear along with EMA slope direction.
This indicator visually highlights potential squeeze points where market liquidity may shift, aiding in trend-based entries or exits.
Key Components:
Wick Multipliers
User-defined multipliers for upper and lower wick sizes to identify significant wicks in relation to the candle body.
EMA Calculations
Uses 21-period and 50-period EMAs of the closing price to gauge trend direction.
The slope of the 21 EMA is also calculated, using a threshold to approximate a 45-degree angle.
Trend and Slope Conditions
Bullish trend if 21 EMA is above the 50 EMA, and bearish if below.
Bullish and bearish slopes are defined based on the EMA's direction and threshold.
Wick Conditions:
Bullish Upper Wick Condition
Checks for a candle with an upper wick at least a certain multiple of the body size, above the 21 EMA, with a bullish EMA slope.
Bearish Lower Wick Condition: Checks for a candle with a lower wick at least a certain multiple of the body size, below the 21 EMA, with a bearish EMA slope.
Signal Plotting and Alerts
Displays green circles above bars for bullish signals and red circles below bars for bearish signals.
Alerts are set for both bullish and bearish conditions, indicating when significant upper or lower wicks appear along with EMA slope direction.
This indicator visually highlights potential squeeze points where market liquidity may shift, aiding in trend-based entries or exits.
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