Price Action & Liquidity Levels Indicator

kelmarinKey Features of the Indicator: Previous Day High (PDH) & Low (PDL):

Automatically plots PDH (green dashed line) and PDL (red dashed line) as key liquidity levels.
These levels mark potential support and resistance zones based on previous day’s price action.
Price Action Patterns:

Engulfing Candles: Bullish and Bearish Engulfing patterns are detected.
Pin Bars: Bullish and Bearish Pin Bars are detected.

Confluence Highlighting:
The background color changes when price action patterns (Engulfing or Pin Bars) occur near PDH or PDL.
This highlights areas of potential high liquidity and trading opportunities.

Alerts:
Visual & Audible Alerts: Alerts are generated when Engulfing Candles or Pin Bars form near PDH/PDL.
Traders can enable or disable specific alerts using the inputs.

Signals:
Triangle Shapes: Bullish signals are plotted below bars (green triangle), while bearish signals are plotted above bars (red triangle).

Use Cases:
Key Trading Zones: Traders can use the indicator to quickly identify crucial support and resistance areas where price is likely to react.
Entry/Exit Strategies: Align price action patterns with PDH/PDL to optimize trade entries and set stops or profit targets.

Risk Management: Avoid false breakouts by monitoring how price behaves near these liquidity levels.