OPEN-SOURCE SCRIPT
Liquidity Engulfing Candles [upslidedown]
Liquidity engulfing candles (LEC) are a variant of a common candlestick pattern: engulfing candles but with a couple extra conditions applied. These conditions expect highs/lows to be taken out in order to show a continuation or reversal signal.
Filter 1: Stop Hunt Wick Filter
This filter requires the candle to wick into the prior candles high or low ( bullish = wick below prior candle lows). This is the stop hunt.
Filter 2: Close Filter
This filter requires the candle to close above or below above the prior candle ( bullish = close above prior candle high). This is the confirmation.
This idea was introduced to me by @attrk632. Thanks, mate!
Filter 1: Stop Hunt Wick Filter
This filter requires the candle to wick into the prior candles high or low ( bullish = wick below prior candle lows). This is the stop hunt.
Filter 2: Close Filter
This filter requires the candle to close above or below above the prior candle ( bullish = close above prior candle high). This is the confirmation.
This idea was introduced to me by @attrk632. Thanks, mate!
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
❤️ Premium indicator subscription @ Whop includes: Mojo Levels, Manipulation Model, Super Oscillator, VIX Meter, and Volatility Radar
🔗 whop.com/c/upslidedown/t use discount code FRIENDOFUSD for 20% off FOREVER
🔗 whop.com/c/upslidedown/t use discount code FRIENDOFUSD for 20% off FOREVER
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
❤️ Premium indicator subscription @ Whop includes: Mojo Levels, Manipulation Model, Super Oscillator, VIX Meter, and Volatility Radar
🔗 whop.com/c/upslidedown/t use discount code FRIENDOFUSD for 20% off FOREVER
🔗 whop.com/c/upslidedown/t use discount code FRIENDOFUSD for 20% off FOREVER
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.