This script analyzes market liquidity sentiment and volume distribution within the visible range on the screen to offer traders a comprehensive view of current market dynamics. It calculates pivot points based on the highest and lowest prices within the visible range, dividing this range into segments. Then, it evaluates volume distribution within these segments to gauge market sentiment.
Features:
- Calculates pivot points based on price action within the visible range to identify significant price levels.
- Divides the visible price range into segments and analyzes volume distribution within each segment.
- Provides visual cues such as colored boxes to represent liquidity sentiment, with green indicating positive sentiment (LONGS) and red indicating negative sentiment (SHORTS).
- Offers customization options for users to adjust parameters according to their trading preferences.
