Global Liquidity Index (Candles)

Global Liquidity Index (GLI) with Price Correlation

THIS INDICATOR ONLY WORKS ON THE 1D CHART, IF YOUR CHART USES ANOTHER TIMEFRAME THEN CHANGE IT TO THE 1 DAY ONE. It tracks global liquidity conditions by aggregating balance sheet data from major central banks worldwide, displayed as candlesticks for easy visualization.

Key Features:
Comprehensive data from 17 central banks including FED, ECB, PBoC, BoJ, and more
Customizable inputs to include/exclude specific central bank data
Special adjustments for FED RRP facility and Treasury General Account
70-day correlation delay which prove how liquidity leads price movements are factored in the indicator.
Price-liquidity correlation metric to quantify the relationship
A 70-day price projection based on current liquidity conditions is showed.

How To Use:
The indicator utilizes global liquidity with a 70-day delayed overlay gathering the historical relationship between liquidity and price.

The projection line provides an estimate of future price movements based on current liquidity conditions, making this tool valuable for medium to long-term investment planning.

This indicator builds upon the original work by "ingeforberg" with enhancements for correlation analysis and price projection capabilities. Data is sourced directly from central bank balance sheets and normalized to USD

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This script is provided for informational and educational purposes only. It is not intended to be, nor should it be construed as, financial, investment, or trading advice. Past performance is not indicative of future results, and the predictions or projections made by this script are purely algorithmic interpretations with no guarantee of accuracy.

Trading and investing involve risk, and you should conduct your own due diligence before making any financial decisions. You are solely responsible for your trading decisions, and neither the author nor TradingView will be liable for any losses incurred.

Always consult with a licensed financial professional before making investment decisions