OPEN-SOURCE SCRIPT

Security Liquidity

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Liquidity could be powerful indicator to gauze the interest in a particular security. It is calculated by multiplying vwap with average volume over a period of time, e.g 20 days.
This script displays the current liquidity over the current session bar as a label & gets updated in real time. Below are the settings one can choose.

1. Average Period - the look back period to calculate liquidity. Defaults to 20.
2. Source - Source of the price like hlc3 etc.
3. Label Size - How big or small you want this to be displayed.
4. Notation - The liquidity in millions or crores (for India)
5. Trend - if the current session liquidity is greater than 5 sessions ago then label color will turn green.
6. Alert - One can set alerts for any security based on liquidity. e.g if liquidity of a stock is more than 200 million then trigger an alert

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