Liquidity Sentiment
What does the Indicator show?
A drop of Liquidity Sentiment suggests more traders are willing to pay the Ask, as they are keen to buy. (In this situation, the indicator moves towards the Ask label).
A rising Liquidity Sentiment suggests more traders are eager to sell, and willing to accept the Bid. (In this situation, the indicator moves towards the Bid label).
Logic:
Why does a stock go up?
Because more traders want to buy than sell, creating illiquidity.
Why does a stock go down?
Because more traders want to sell than buy, creating liquidity.
How to use the Indicators settings?
Setting your chart to 5-minute time periods is best for observing intraday price movements.
Setting your chart to 4-hour time periods provides the best longer term view.
Setting the "Indicator - # of SMA Intervals" to a higher number extends the reading frame of the indicator, this depicts sentiment over the specified time period. For example, if the chart is set to 1 day, and the "Indicator - # of SMA Intervals" is set to 5, the indicator shows the Liquidity Sentiment through a simple moving average of 5 days.
What is a Simple Moving Average?
In stock trading, a Simple Moving Average (SMA) is a calculation that takes the arithmetic mean of a given set of data values over a specified number of time periods, to smooth out data and identify trends.
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Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
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Find us at nakeddelta.com