First, thanks to the following Tradingview community members for providing open source indicators that I used to develop this indicator! Liquidations by volume (spot/futures) - @Thomas_Davison Pivot and liquidation lines [LM] - @lmatl Let me know if either of you do not approve and I will remove the indicator.
This indicator uses pivot points, volume and a liquidation percentage to determine potential liquidation levels. These are not exact but can give traders an idea of potential support or resistance levels.
Pivot points: Currently the pivot points are set to look left 5 bars and right 2 bars. This will determine the high and lows in the chart.
Volume: Assuming that high volume bars are where more leverage is used, this indicator uses the average volume over a 1000 bar period to determine to determine a baseline. I have arbitrarily set 100x lines to 20% above the average volume, 50x lines 10% above, 25x lines 5% above, 10x lines 2.5% above and 5x lines 1.25% above.
Liquidation: Finally, we are making a few assumptions on how liquidations are calculated. The following table includes the percentage a position can decline before being liquidated.
I just wanted to express my gratitude for your open-source script, which has been incredibly helpful for me. Your work has inspired me to create an Open Interest-based version of an indicator based on your script. I've tried to make some improvements and adjustments to suit my trading style, and I thought it might be helpful to others as well. tw.tradingview.com/script/fojkIFRU/ Once again, thank you for your amazing work and for inspiring me to contribute to the TradingView community. Happy trading!
asesorinmobiliariomadrid
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@Seansnote97, muchas gracias por compartir conocimientos libremente.
pedroreyesh
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It's great but it fails a lot, it has bad performance.
Hopefully they can improve it.
GreenSpica
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@pedroreyesh, ouch! Really? Where at you located fails? :(
Mysterysauce
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@pedroreyesh, Yea, I'm considering having it reviewed by another dev to see if we can improve the error rate. Thanks for the comment
Pilicoin
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Hi sir, great script. How are the percentages calculated based on the leverage?, cant see a correlation.
FidelSunW
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Thank you very much for sharing this good indicator, if you can leave the old liquidatoons lines it would be more useful... it says that in the last change they were removed...
andcbarros1
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Parabéns pela atualização, indicador promissor
asesorinmobiliariomadrid
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muchas gracias por compartir conocimientos libremente
jellegeerts9
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Hello. How do you recognize levels. There are so much lines. When will a price reverse?
tw.tradingview.com/script/fojkIFRU/
Once again, thank you for your amazing work and for inspiring me to contribute to the TradingView community. Happy trading!