OPEN-SOURCE SCRIPT
MTF Market Structure Highs and Lows
Updated
The indicator marks the last fractal highs and lows (W,D,4H and 1H options) to help determine current market structure. The script was created to help with directional bias but also as a MTF visual aid for stop hunts/liquidity raids.
Liquidity areas are where we assume trader's stop losses would be when buying or selling. Liquidity lies above and below swing points and institutions need liquidity to fill large orders.
Monitor price action as it hits these areas for a potential reversal trade.
Liquidity areas are where we assume trader's stop losses would be when buying or selling. Liquidity lies above and below swing points and institutions need liquidity to fill large orders.
Monitor price action as it hits these areas for a potential reversal trade.
Release Notes
Alert function has been added for when price crosses a specified MS high/low. Also option to show previous broken highs/lows has been included.Release Notes
Breach lines and more alert functions added- Any level cross alert
- Any level low cross alert
- Any level high cross alert
Release Notes
Fixed error in code for alerts. Alerts once per breach and then resets for the next breach.Release Notes
Monthly, 30m, 15m and 5m MS highs and lows option added.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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