Re: Something interesting please post here (Metatrader)

Another GEM!
( At least for me, ideal to give us an idea about Possible Profit taking targets, pay close attention how price navigates to volume accumulation zones :razz: )

Liquidity Swings
Created Jan 30, 2023
(c) LuxAlgo

The Liquidity Swings indicator highlights swing areas with large trading activity for traders to find accumulation/distribution zones as well as levels to trade as support and resistance. The number of times price revisited a swing area is highlighted by a zone delimiting the areas. Additionally, the accumulated volume within swing areas is highlighted by labels on the chart.

An option to filter out swing areas with volume/counts not reaching a user set threshold is also included.

The Liquidity Swings indicator can be used to highlight significant swing areas which can be used as accumulation/distribution zones on lower timeframes that might play a role as future support or resistance.
Swing levels are also highlighted. When a swing level is broken it's displayed as a dashed line. A broken swing high is a bullish indication, while a broken swing low is a bearish indication.

Filtering swing areas by volume allows the indicator to only show significant swing areas with a higher degree of liquidity. These swing areas can be wider, highlighting higher volatility, or might have been visited by the price more frequently.

Note that swing points are confirmed after a specific amount of bars, as such all elements are displayed retrospectively.

Pivot Lookback: Lookback period used for the calculation of pivot points.
Swing Area: Determines how the swing area is calculated, "Wick Extremity" will use the range from price high to the maximum between price close/open in case of a swing high, and the range from price low to the minimum between price close/open in case of a swing low. "Full Range" will use the full candle range as swing area.
Intra-bar Precision: Use intra-bar data to calculate the accumulated volume within a swing area, this allows more precise results.
Filter Areas By: Determines how swing areas are filtered out, "Count" will filter out swing areas where price visited the area a number of time inferior to the user set threshold. "Volume" will filter out swing areas where the accumulated volume within the area is inferior to the user set threshold.
Swing High: Shows swing highs.
Swing Low: Shows swing lows.
Label Size: Adjust the size of labels on the chart.

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