OPEN-SOURCE SCRIPT
Likvidita ERL - Sweeps & Equal Highs/Lows CoreX
# Liquidity ERL - Sweeps & Equal Highs/Lows
**Description:**
This indicator maps External Range Liquidity (ERL) and detects liquidity sweeps confirmed by volume — swing highs/lows, equal-highs/equal-lows pools, previous day/week high-low, the Asian session range, and session VWAP, all in one script.
**What the script does**
Liquidity tends to pool at swing highs and lows, since retail stop-loss and breakout orders concentrate there. The script identifies confirmed swing points and draws them as BSL (buy-side liquidity, above price) or SSL (sell-side liquidity, below price) lines. When two or more swings form within a configurable ATR-based tolerance, they merge into a single EQH/EQL pool instead of two separate lines — the more swings merge into one level, the thicker the line gets, visually flagging it as a stronger, more significant zone.
Alongside swing-based liquidity, the script tracks Previous Day High/Low, Previous Day High/Low... wait let me continue: Previous Week High/Low, and the Asian session's high/low range (shown live as a highlighted box while the session is active, then locked in as a level once the session closes) — three classic external liquidity references used by both day and swing traders.
A liquidity sweep is flagged when price wicks through one of these levels and closes back on the original side. Not every sweep is treated as significant: the script cross-checks the sweep candle's volume against its own moving average. Sweeps backed by volume well above average are marked as "quality" sweeps (institutional absorption, likely reversal signal); sweeps on thin volume are treated as probable fakeouts / failed auctions and, by default, are hidden rather than alerted on — a deliberate design choice, since a liquidity grab without volume is a fundamentally different (and far less reliable) pattern than one with it.
**How to read it**
Line color indicates the liquidity type (see the built-in on-chart legend, togglable from settings — position and text size are configurable). A ✓ appended to a label means the sweep was volume-confirmed; a ~ means it wasn't. Once a level is swept, it either disappears (default) or turns gray and dotted, depending on your settings.
**Settings**
Configurable swing sensitivity, equal-highs/lows tolerance (ATR-based), which reference levels to show (day/week/Asia), volume MA length and the multiplier required for a "quality" sweep, session VWAP toggle, full color customization, and separate alerts for quality vs. weak sweeps.
**Disclaimer**
This indicator visualizes liquidity concepts from Smart Money / ICT methodology and is intended for analytical and educational purposes only. It does not constitute financial advice or a trading signal — all trading decisions and associated risks remain solely with the user. Note that on spot forex/CFD symbols, "volume" reflects broker tick volume rather than true traded volume; the quality filter is relative (current vs. its own average) so it remains useful, but isn't directly comparable to real exchange volume (e.g. CME futures).
**Description:**
This indicator maps External Range Liquidity (ERL) and detects liquidity sweeps confirmed by volume — swing highs/lows, equal-highs/equal-lows pools, previous day/week high-low, the Asian session range, and session VWAP, all in one script.
**What the script does**
Liquidity tends to pool at swing highs and lows, since retail stop-loss and breakout orders concentrate there. The script identifies confirmed swing points and draws them as BSL (buy-side liquidity, above price) or SSL (sell-side liquidity, below price) lines. When two or more swings form within a configurable ATR-based tolerance, they merge into a single EQH/EQL pool instead of two separate lines — the more swings merge into one level, the thicker the line gets, visually flagging it as a stronger, more significant zone.
Alongside swing-based liquidity, the script tracks Previous Day High/Low, Previous Day High/Low... wait let me continue: Previous Week High/Low, and the Asian session's high/low range (shown live as a highlighted box while the session is active, then locked in as a level once the session closes) — three classic external liquidity references used by both day and swing traders.
A liquidity sweep is flagged when price wicks through one of these levels and closes back on the original side. Not every sweep is treated as significant: the script cross-checks the sweep candle's volume against its own moving average. Sweeps backed by volume well above average are marked as "quality" sweeps (institutional absorption, likely reversal signal); sweeps on thin volume are treated as probable fakeouts / failed auctions and, by default, are hidden rather than alerted on — a deliberate design choice, since a liquidity grab without volume is a fundamentally different (and far less reliable) pattern than one with it.
**How to read it**
Line color indicates the liquidity type (see the built-in on-chart legend, togglable from settings — position and text size are configurable). A ✓ appended to a label means the sweep was volume-confirmed; a ~ means it wasn't. Once a level is swept, it either disappears (default) or turns gray and dotted, depending on your settings.
**Settings**
Configurable swing sensitivity, equal-highs/lows tolerance (ATR-based), which reference levels to show (day/week/Asia), volume MA length and the multiplier required for a "quality" sweep, session VWAP toggle, full color customization, and separate alerts for quality vs. weak sweeps.
**Disclaimer**
This indicator visualizes liquidity concepts from Smart Money / ICT methodology and is intended for analytical and educational purposes only. It does not constitute financial advice or a trading signal — all trading decisions and associated risks remain solely with the user. Note that on spot forex/CFD symbols, "volume" reflects broker tick volume rather than true traded volume; the quality filter is relative (current vs. its own average) so it remains useful, but isn't directly comparable to real exchange volume (e.g. CME futures).
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.