Pivot Liquidity Sweep + Signals

The Pivot Liquidity Sweep + Signals indicator automates the identification of liquidity sweeps and rejection patterns at pivot high and low levels to provide actionable entry and exit signals.

Usage

The tool identifies two primary market behaviors:

Sweep Signals: These occur when the price moves beyond a recent pivot high or low (capturing liquidity) and subsequently reverses. The indicator labels these as "Sweep" on the chart.

• Bullish Sweep: Triggered when price sweeps a pivot low and closes above it.
• Bearish Sweep: Triggered when price sweeps a pivot high and closes below it.
• Trade Management: Entry is taken at the candle close. Stop losses are dynamically set based on the sweep candle's Extremum, while targets are automatically projected toward the nearest valid opposing pivot.

Rejection Signals: These are identified when the price attempts to reach or break a pivot level but fails, indicating a lack of momentum.

• Bullish Rejection: Price approaches a pivot low but fails to break it, closing higher.
• Bearish Rejection: Price approaches a pivot high but fails to break it, closing lower.

The built-in dashboard tracks the performance of these signals, providing real-time statistics on total trades, success rates, and accumulated profit points for both sweeps and rejections.

Details

The indicator relies on the ta.pivothigh() and ta.pivotlow() functions to define structural support and resistance. It uses a lookback period to establish these levels as "liquidity pools." A sweep is confirmed when price breaches these levels on an intrabar or closing basis but fails to sustain the breakout. The implementation also features a performance tracking module that simulates trade outcomes based on the dynamic Stop Loss and Take Profit levels calculated at the time of the signal.

Settings

• Pivot Lookback Length: Determines the number of bars required to confirm a pivot high or low.
• Intrabar Precision Check: Enables the use of a lower timeframe to verify if price breached a level within the candle duration.
• Intrabar Timeframe: The specific timeframe used for high-precision data fetching.
• Filter Type: Choose between 'ATR', 'Percentage', or 'None' to filter signals based on volatility or price movement thresholds.
• ATR Length + Mult.: Configures the Average True Range settings for the volatility filter.
• Percentage + Mult.: Configures the percentage-based threshold for signal validation.
• Show Dashboard: Toggles the visibility of the performance tracking table.
• Show Basic Sweep Signals: Enables or disables labels for sweep-based trade setups.
• Show Rejection Signals: Enables or disables labels for rejection-based trade setups.
• Mark Swept Levels: Draws historical lines from the original pivot to the point where it was swept.

FAQ

How do I access Pivot Liquidity Sweep + Signals?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What is the difference between a Sweep and a Rejection?

A Sweep occurs when price successfully moves past a pivot level before reversing, whereas a Rejection occurs when price fails to even reach or break the pivot level before reversing.

Can I use this for scalping?

Yes, by enabling "Intrabar Precision" and using a lower timeframe, the indicator can provide the high-precision entry and exit points often required by scalpers.