Liquidity Levels

A custom indicator created by TrendSpider Team on TrendSpider. You can import this custom indicator into your TrendSpider account. Don't have TrendSpider? Create an account first, then import the custom indicator.

The Liquidity Levels indicator is a distinctive analytical tool that leverages the concept of Williams' Fractals to identify and visually represent significant support and resistance levels on the price chart. This indicator focuses on pinpointing the highest and lowest points within a given range, marked by fractal high and fractal low points over a 51-period span, to denote areas where liquidity might concentrate, thus highlighting potential barriers to price movements.

Source code

This indicator had been implemented by TrendSpider Team in JavaScript on TrendSpider. Check out the developer documentation to learn more about JS on TrendSpider.

describe_indicator('Liquidity Levels', 'price', { shortName: 'Liquidity' });

// Find the high and low william's fractals
const fractalHigh = fractal_high(high, 51);
const fractalLow = fractal_low(low, 51);

// These variables contain the maximum number of lines we want to paint
let remainingTopLines = 5;
let remainingBottomLines = 5;

// Start from the last candle to first, since we want to paint the latest lines
for (let candleIndex = high.length - 1; candleIndex >= 0; candleIndex--) {
    // If this candle's index fractal isn't 'null', there is a fractal. Also check if it haven't reached the maximum number of lines
    if (fractalHigh[candleIndex] !== null && remainingTopLines > 0) {
        // paint a horizontal line with value the high of the fractal candle that starts at this index
        paint(horizontal_line(high[candleIndex], candleIndex), 'Top line ' + remainingTopLines, 'red');
        // since we painted one line reduce the number of the remaining top lines
        remainingTopLines--;
    }
    // do the same for low
    if (fractalLow[candleIndex] !== null && remainingBottomLines > 0) {
        paint(horizontal_line(low[candleIndex], candleIndex), 'Bottom line ' + remainingBottomLines, 'green');
        remainingBottomLines--;
    }
}

// if we haven't reached the maximum number of lines paint empty series for the rest of the lines
while (remainingTopLines > 0) {
    paint(series_of(null), 'Top line ' + remainingTopLines, 'red');
    remainingTopLines--;
}

while (remainingBottomLines > 0) {
    paint(series_of(null), 'Bottom line ' + remainingBottomLines, 'red');
    remainingBottomLines--;
}