OPEN-SOURCE SCRIPT
LiquidityPulse — RSI + Candle Strength Momentum Reversal Suite
LiquidityPulse — RSI + Candle Strength Momentum Reversal Suite description:
Non-repainting indicator.
⚙️ First-time Setup – Make the Candles Visible
To see the custom candle colours correctly you must disable the chart’s own candle borders and wicks:
Right-click anywhere on your chart (or click the ⚙ gear icon) and choose Settings.
Open the Appearance tab → Candles section.
Untick both Body Borders and Wicks (or set their colours to 100 % transparent).
Click OK.
Without this step the platform’s default candle styling can hide the indicator’s dynamic candle fills.
Overview
This script merges price-action strength with momentum extremes to highlight potentially significant market turning points:
Candle Strength 1–10 – Every candle is graded on a ten-point scale based on body size and volume relative to recent averages. Strong bullish or bearish candles are colour-coded with one of five optional themes (Classic, Cool, Neon, Pastel or Abyss).
RSI Extremes Filter – A standard 14-period RSI monitors overbought and oversold levels.
Only when both a high-grade candle and an RSI extreme occur together does the script optionally plot an arrow to mark a potential reversal area.
How It Works
Each candle receives a bull or bear strength score (1–10) using an internal candle-strength scoring formula.
RSI is checked across a user-defined look-back window (default 2 bars).
Bull Arrow Marker – printed below the bar only when
Bull strength ≥ Min candle strength (default 8), and
RSI dips below the oversold level (default 30) within the look-back window.
Bear Arrow Marker – printed above the bar only when
Bear strength ≥ Min candle strength (default 8), and
RSI rises above the overbought level (default 70) within the look-back window.
These dual conditions make the arrows intentionally rare depending on the settings used, and are designed to highlight momentum conditions associated with potential turning points
How to Use It in Your Own Trading
Market Context First – Apply the indicator only after you have identified the broader trend or key support/resistance areas on higher time-frames.
Confirmation, Not Prediction – Use the arrows as a confirmation of potential exhaustion or reversal; they are not intended as stand-alone entry triggers.
Adjust to Your Style –
Short-term traders might reduce the “RSI look-back bars” to 1 for quicker but more frequent alerts.
Swing traders may raise the “Min candle strength” to 9 or 10 to focus only on the strongest setups.
Combine with Risk Management – Always confirm with your own stop-loss and position-sizing rules.
Why this indicator is useful:
Confluence – It joins price-action strength (candle/volume) with a classic momentum oscillator (RSI), reducing noise from using either method alone.
Visual Clarity – Dynamic candle colouring makes market strength visible at a glance; depending on the settings used, rare arrows can highlight potential reversal areas based on momentum conditions.
Flexibility – All parameters adapt to any market or timeframe.
Educational Value – It helps traders learn how momentum extremes and candle strength interact—valuable for both beginners and experienced traders.
Inputs – Default Values
Min candle strength: 8
RSI look-back bars: 2
Overbought level: 70
Oversold level: 30
Candle-Strength engine: look-back 50 bars, ATR length 14, Body ≥ 0.5×ATR, Volume floor 10 000, Sensitivity 2
Optional features: five colour themes, strength number labels, label background at 42 % opacity.
All settings can be modified to suit different markets and trading styles.
Alerts
Two built-in alert conditions:
Bull Candle-RSI Condition
Bear Candle-RSI Condition
These can trigger alerts when the conditions are met.
If you have any questions about the indicator just pop me a message, happy trading!
Disclaimer
This script is 100 % my own original work.
Trading and investing involve substantial risk and are not suitable for every investor.
This indicator is provided for educational and informational purposes only to assist individuals with their own market analysis.
It is not a buy or sell signal and should not be considered financial advice.
Use it only in conjunction with your own analysis and trade at your own risk.
Non-repainting indicator.
⚙️ First-time Setup – Make the Candles Visible
To see the custom candle colours correctly you must disable the chart’s own candle borders and wicks:
Right-click anywhere on your chart (or click the ⚙ gear icon) and choose Settings.
Open the Appearance tab → Candles section.
Untick both Body Borders and Wicks (or set their colours to 100 % transparent).
Click OK.
Without this step the platform’s default candle styling can hide the indicator’s dynamic candle fills.
Overview
This script merges price-action strength with momentum extremes to highlight potentially significant market turning points:
Candle Strength 1–10 – Every candle is graded on a ten-point scale based on body size and volume relative to recent averages. Strong bullish or bearish candles are colour-coded with one of five optional themes (Classic, Cool, Neon, Pastel or Abyss).
RSI Extremes Filter – A standard 14-period RSI monitors overbought and oversold levels.
Only when both a high-grade candle and an RSI extreme occur together does the script optionally plot an arrow to mark a potential reversal area.
How It Works
Each candle receives a bull or bear strength score (1–10) using an internal candle-strength scoring formula.
RSI is checked across a user-defined look-back window (default 2 bars).
Bull Arrow Marker – printed below the bar only when
Bull strength ≥ Min candle strength (default 8), and
RSI dips below the oversold level (default 30) within the look-back window.
Bear Arrow Marker – printed above the bar only when
Bear strength ≥ Min candle strength (default 8), and
RSI rises above the overbought level (default 70) within the look-back window.
These dual conditions make the arrows intentionally rare depending on the settings used, and are designed to highlight momentum conditions associated with potential turning points
How to Use It in Your Own Trading
Market Context First – Apply the indicator only after you have identified the broader trend or key support/resistance areas on higher time-frames.
Confirmation, Not Prediction – Use the arrows as a confirmation of potential exhaustion or reversal; they are not intended as stand-alone entry triggers.
Adjust to Your Style –
Short-term traders might reduce the “RSI look-back bars” to 1 for quicker but more frequent alerts.
Swing traders may raise the “Min candle strength” to 9 or 10 to focus only on the strongest setups.
Combine with Risk Management – Always confirm with your own stop-loss and position-sizing rules.
Why this indicator is useful:
Confluence – It joins price-action strength (candle/volume) with a classic momentum oscillator (RSI), reducing noise from using either method alone.
Visual Clarity – Dynamic candle colouring makes market strength visible at a glance; depending on the settings used, rare arrows can highlight potential reversal areas based on momentum conditions.
Flexibility – All parameters adapt to any market or timeframe.
Educational Value – It helps traders learn how momentum extremes and candle strength interact—valuable for both beginners and experienced traders.
Inputs – Default Values
Min candle strength: 8
RSI look-back bars: 2
Overbought level: 70
Oversold level: 30
Candle-Strength engine: look-back 50 bars, ATR length 14, Body ≥ 0.5×ATR, Volume floor 10 000, Sensitivity 2
Optional features: five colour themes, strength number labels, label background at 42 % opacity.
All settings can be modified to suit different markets and trading styles.
Alerts
Two built-in alert conditions:
Bull Candle-RSI Condition
Bear Candle-RSI Condition
These can trigger alerts when the conditions are met.
If you have any questions about the indicator just pop me a message, happy trading!
Disclaimer
This script is 100 % my own original work.
Trading and investing involve substantial risk and are not suitable for every investor.
This indicator is provided for educational and informational purposes only to assist individuals with their own market analysis.
It is not a buy or sell signal and should not be considered financial advice.
Use it only in conjunction with your own analysis and trade at your own risk.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.