A level matters until price takes it, and then it stops mattering. The liquidity finder indicator for ict indicator holds that rule strictly. It draws every swing high and low it finds as a dotted line, and the moment price trades through one, that line leaves the chart.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: BSL (Buyside Liquidity), SSL (Sellside Liquidity) |
| Alerts | popup, push notification, email, sound |
| Inputs | 18 |
Everything visible
Two arrow plots plus dotted lines.
`BSL (Buyside Liquidity)` marks a taken high in aqua.
`SSL (Sellside Liquidity)` marks a taken low in magenta.
Each untaken level draws as a dotted line.
`ShowLabels` prints BSL or SSL beside it.
`ExtendLines` runs each line to the current bar.
- BSL (Buyside Liquidity): arrow, aqua, width 2, arrow code 234
- SSL (Sellside Liquidity): arrow, magenta, width 2, arrow code 233
How a value appears
Finding the levels
A narrow fractal rule does it. `SwingLookback` `3` bars either side must fail to beat a bar, so levels are found quickly and there are plenty of them.
Keeping only what stands
Each candidate gets checked forward. Price trading through a level removes it, and `MaxLevels` `25` keeps the newest survivors when more than that remain.
How far back it reaches
`LookbackBars` `600` bounds the scan. Levels older than that drop away whether taken or not, which keeps the chart tied to recent structure.
What the plots are telling you
Every dotted line on screen still stands.
A line vanishing means price went through it.
The marks flag the bar that did the taking.
Note the arrows: a taken high gets a down arrow.
Clusters of lines mark where levels stack up.
Twenty-five is the most you will ever see.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
Price trading through a level raises the message here. `EnableAlerts` governs the lot and arrives on with `EnablePopup`; `EnablePushNotify`, `EnableEmail` and `EnableSound` playing `SoundFile` all begin switched off.
Every Liquidity Finder Indicator for ICT Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
SwingLookback |
swing left/right window. Bars either side defining a swing, `3`. | 3 |
MaxLevels |
max untaken levels to draw. Untaken levels kept on chart, `25`. | 25 |
LookbackBars |
scan window. History the scan covers, `600`. | 600 |
ExtendLines |
extend liquidity lines to current bar. Run each line to the current bar, `true`. | on |
ObjPrefix |
Prefix on every object name, `”LIQ_ICT_”`. | LIQ_ICT_ |
Display settings
| Setting | What it does | Default |
|---|---|---|
ShowLabels |
draw BSL / SSL text labels. Print BSL and SSL text, `true`. | on |
BSLColor |
BSL line/text color. Buyside colour, `clrAqua`. | aqua |
SSLColor |
SSL line/text color. Sellside colour, `clrMagenta`. | magenta |
LineWidth |
(see inputs panel) | 1 |
LineStyle |
How the lines are drawn, `STYLE_DOT`. | STYLE_DOT |
LabelFontSize |
(see inputs panel) | 9 |
LabelFontName |
(see inputs panel) | Arial Bold |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Whether a cleared level speaks, `true`. | on |
EnablePopup |
(see inputs panel) | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
(see inputs panel) | off |
SoundFile |
(see inputs panel) | alert.wav |
Suitable charts
Six hundred bars of scan with a three-bar swing rule produces a busy chart. EURUSD H1 is the reference chart, covering about a month. Go faster and the levels multiply past what twenty-five can hold. Go slower and each line spans a quarter.
The downsides
A three-bar swing is a very small structure.
Twenty-five levels can hide the ones that matter.
A cleared level says nothing about what follows.
Lines drawn as objects survive a timeframe change.
Copy the compiled Liquidity Finder Indicator for ICT Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: ICT Style Strategy.
Download the Liquidity Finder Indicator for ICT Indicator for MT4 and MT5
The zip holds the compiled Liquidity Finder Indicator for ICT Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
Why does the BSL plot use a downward arrow?
Because taking buyside liquidity reads as a bearish event. Price reaching above a swing high clears the orders resting there, so the mark points down despite the upward move behind it.
What removes a BSL line from the chart?
Price trading through it. Only untaken levels ever draw, so a line disappearing is the event itself rather than a display quirk, and the matching arrow marks the bar that did it.
Is SwingLookback 3 too narrow?
It is deliberately loose. Three bars either side finds many levels, which suits a method built on clusters of resting orders rather than on a handful of major swings. Widening it thins the chart considerably.
What happens past MaxLevels 25?
The oldest untaken levels stop being drawn. The cap exists because six hundred bars at this swing setting can produce far more than twenty-five, and a chart carrying all of them is unreadable.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Liquidity Finder Indicator for ICT Indicator as one input. Always backtest before trading live.
Category: this is part of our Smart Money collection. Also, browse more Smart Money for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see Flight-to-liquidity on Wikipedia.
- For broader market context, see Equivolume at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.