ICT IRL & ERL Zones

ICT IRL & ERL Zones
This indicator visualizes Internal Range Liquidity (IRL) and External Range Liquidity (ERL) levels, based on ICT (Inner Circle Trader) concepts. It's designed to help traders identify key liquidity zones that often act as magnet levels or reversal points in price action.

🔍 How It Works
Lookback Range: The script analyzes the highest high and lowest low over a user-defined number of candles (default: 50).

IRL (Internal Range Liquidity):

Plots the highest high and lowest low within the lookback period.

Represented as orange lines and a shaded zone.

ERL (External Range Liquidity):

Extends the IRL boundaries by a small buffer (50 ticks above/below).

Visualizes zones where price may reach for liquidity beyond the current range.

Plotted as a green (high) and red (low) line.

⚙️ Inputs
Lookback Range: Number of candles to calculate the range (min 5).

Show IRL: Toggle visibility for Internal Range Liquidity zone.

Show ERL: Toggle visibility for External Range Liquidity buffer zone.

📊 Visual Elements
IRL High/Low: Orange lines with fill to mark the main liquidity range.

ERL High/Low: Green and red lines indicating potential liquidity sweep zones.

Zone Fill: Light orange shading to visually emphasize the IRL area.

📈 Use Case
Use this tool to:

Identify areas where price might consolidate or reverse.

Highlight likely zones of liquidity grabs before trend continuations or shifts.

Enhance entry/exit decisions based on smart money concepts.