Liquidity Grab Screener

The Liquidity Grab Screener tool identifies and monitors false breakouts at key pivot points across multiple assets simultaneously. By tracking price action where market orders are heavily executed, this script helps traders identify potential reversals or volatility expansions based on institutional liquidity patterns.

Usage

The Liquidity Grab Screener can be used to monitor up to five different symbols and timeframes from a single chart. It is primarily used to detect "false breakouts," where the price briefly exceeds a pivot high or low but fails to sustain the move, leaving a significant wick behind.

• Screener Dashboard: Displays real-time data including the asset name, the price at which the grab occurred, the relative size (based on wick-body ratio), and the status (time elapsed since the event).
• Wick-Body Ratio: The size of the "bubble" or indicator signal is determined by the ratio of the candle's wick to its body. A higher ratio indicates a more significant rejection.
• Multi-Asset Scanning: Traders can set different tickers (e.g., BTCUSDT, AAPL, EURUSD) and timeframes to scan for liquidity grabs without switching charts constantly.

Details

The script identifies liquidity grabs by monitoring pivot highs and lows established over a user-defined period. A liquidity grab is confirmed when:

1. The price breaks above a previous pivot high (buyside) or below a previous pivot low (sellside).
2. The price reverses, leaving a wick that exceeds the specified Wick-Body Ratio.
3. The candle completes, confirming the rejection.

The screener organizes this information into a table, providing a "Status" field that calculates how much time has passed since the most recent grab for each monitored ticker, allowing users to assess the freshness of the setup.

Settings

Tickers

• Ticker 1-5: Enables the selection of specific symbols to scan.
• Timeframes: Allows individual timeframe settings for each ticker.

General Configuration

• Pivot Length: Determines the number of bars on either side required to define a pivot high or low. Higher values result in more significant, longer-term liquidity levels.
• Wick-Body Ratio: Sets the minimum threshold for the rejection wick compared to the candle body. A value of 0.5 means the wick must be at least half the size of the body.
• Bullish/Bearish Colors: Customizes the visual representation of buyside and sellside liquidity grabs.

Style

• Position: Adjusts where the screener dashboard is displayed on the chart.
• Background/Text Colors: Provides options to customize the UI to match different chart themes.

FAQ

How do I interpret the "Size" in the screener? The size is a relative metric derived from the wick-body ratio. A larger size suggests a more aggressive rejection of the price level, potentially indicating stronger institutional interest.

Can I scan timeframes lower than my current chart? It is recommended to select timeframes equal to or higher than the current chart timeframe to ensure data consistency and accuracy in the screener calculations.

How do I access the Liquidity Grab Screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.