The market always seeks liquidity. Liquidity rests above previous highs and below previous lows as many traders see these as obvious points to place their stops. These are areas in the chart where many orders are placed together and serve as tipping points for market makers.
The script marks the breach of a market structure high/low with a vertical line. The script has the option to show the current W,D,4H & 1H market structure high and low.
How to use:
Once a raid occurs, use a higher timeframe to search for high probability supply and demand zones. Price needs to react to something. You may have multiple breaches before a reversal happens as price is likely looking for fresh(untested) zones. So don't trade blindly.
A good understanding of supply and demand concepts, odds enhancers, and how to identify fresh levels is expected to utilise it's full potential.
@peterwillz87, yes, any alert function alerts you on all breaches on the timeframe you set it on
peterwillz87
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@geneclash, I tried to put any alert function on 15m chart on most major forex pairs. none is triggered yesterday for whole day. Now I tried to high low break alert on 15m on btc, and it trigger almost every 15m. It seems alert fired whenever candle break previous candle high low, NOT when the candle break previous major swing. I already tick all W,D,4H,and 1H level.
humanoid_AI
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what do purple (high breakout) and green lines(low breakout) at the back of the chart signify? Also, please tell me how to use these lines in trading.
geneclash
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@humanoid_AI, vertical lines just mean the fractal high/low has been broken, nothing else.
humanoid_AI
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@geneclash, can I remove vertical line..I can't see any option it hinders the wick of the price