█ OVERVIEW
The indicator introduces a new representation of the highs and lows of the previous days, weeks and months (DWM HL), with an emphasis on untapped levels.
█ CONCEPTS
Unused levels
It is common knowledge that liquidity is found behind swing points or beyond highs/lows on higher time frames (in a sense, an intraday swing point is a daily high/low). These key areas are referred to as “liquid” due to the accumulation of dormant orders, primarily in the form of stop-loss orders. And this is even more noticeable at higher time frames, which have more time to stack orders. Therefore, the indicator aims to track untapped levels whose liquidity status is intact.
Liquidity pools
Once a liquidity level is identified, or rather a cluster of liquidity levels, acts like a magnet for the market. Price is more likely to find its way to heavier pockets of liquidity depending on proximity (nearest liquidity pool) and difficulty (path with fewer obstacles). This phenomenon is called liquidity run, raid, purge, grab, hunt, sweep, etc. Consequently, the indicator can help you set a directional bias during your trading session.
█ NOTES
drawings
As soon as a layer is tapped, it is highlighted. At the end of each day, all tapped levels will be deleted.
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