I would like to introduce you script for calculating liquidations on Bybit(it's applicable not only for Bybit). The idea is to render lines and look for confluence with other indicators where is most likely that people will get liquidated.
It has setting with 4 leverages that will render line below and above price always calculated from high and...
Option to screen for,
1. Volume Weighted Moving Average (better representation of majority)
2. Liquidation from Top Entered Positions (Long & Shorts)
3. Liquidations from Bottom Entered Positions (Longs & Shorts)
4. Liquidations from Top Shorts and Bottom Longs
5. Liquidations from Top Longs and Bottom Shorts
You can change candle lookback for 2-5 since these use...
simple tool to calculate where the positions are liquidated. each color is a level of default leverage used on mex, eg. 10x,25x, and so on.
there is an offset input to adjust the levels horizontally, to make it easier to see in time where the positions got liquidated