Liquidity Swing Indicator for MT4 and MT5

Written by Dominic Walsh · Published 12 Jun 2026 · Last updated 21 Sep 2026

Naming a turn is more useful than merely marking it. The liquidity swing indicator does both: it finds pivots with the tightest possible three-bar rule, then compares each against the previous same-side turn and writes HH, LH, HL or LL beside it in the matching colour.

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: Swing High, Swing Low
Alerts	popup, push notification, email, sound
Inputs	18

What appears on the chart

Two arrow plots plus text labels.

`Swing High` marks dodger blue using arrow 234.

`Swing Low` marks orange red using arrow 233.

`HHColor` `clrLimeGreen` tints a higher turn.

`LHColor` `clrTomato` tints a lower one.

Objects carry the `ObjectPrefix` `”LSI_”` prefix.

• Swing High: arrow, dodger blue, arrow code 234
• Swing Low: arrow, orange red, arrow code 233

From price to plot

The tightest pivot rule

`PivotLookback` `1` means one bar either side. That is the strict three-bar pivot, the smallest structure the method recognises, and it finds a great many of them.

Naming the turn

The code checks each new pivot against the previous one on its own side. Higher earns the first tag and lower the second, which makes the label meaningful rather than decorative.

Keeping the chart usable

`MaxLabels` `200` caps the text and `HistoryBars` `800` bounds the scan. Both sit above earlier values, which cut the chart short too soon on a busy symbol.

Getting a signal from it

A run of higher tags describes a rising structure.

A run of lower tags describes a falling one.

Mixed tags mean the structure has not settled.

`ArrowWidth` `3` keeps marks visible on a busy chart.

`LabelOffsetPoints` `18` sits each label clear.

Every pivot confirms one bar late.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

A pivot that has just confirmed is the event here. `EnableAlerts` decides whether it speaks and a panel already appears in the terminal, while the phone route, the mail route and the file named by `SoundFile` each begin closed.

Every Liquidity swing Indicator input

Core settings

Setting	What it does	Default
PivotLookback	1 = strict 3-bar pivot. How many bars flank a pivot, `1`.	1
ObjectPrefix	Prefix on every object name, `”LSI_”`.	LSI_

Display settings

Setting	What it does	Default
MaxLabels	Max text labels drawn (was 80 – caps too soon). Text labels drawn at once, `200`.	200
HistoryBars	Bars the scan covers, `800`.	800
LabelOffsetPoints	Vertical offset (was 60 – pushed labels off some charts). Vertical gap on each label, `18`.	18
ArrowWidth	arrow size (was 1 – too small). How large the marks draw, `3`.	3
HHColor	Tint on a higher high, `clrLimeGreen`.	lime green
LHColor	(see inputs panel)	tomato
HLColor	(see inputs panel)	lime green
LLColor	Tint on a lower low, `clrTomato`.	tomato
LabelFontSize	(see inputs panel)	9
LabelFontName	(see inputs panel)	Arial Bold

Alert settings

Setting	What it does	Default
EnableAlerts	Whether a new pivot speaks, `true`.	on
EnablePopup	A panel appears in the terminal, `true`.	on
EnablePushNotify	(see inputs panel)	off
EnableEmail	(see inputs panel)	off
EnableSound	(see inputs panel)	off
SoundFile	(see inputs panel)	alert.wav

Suitable markets

A three-bar pivot rule across eight hundred bars produces a busy chart. EURUSD H1 is the reference chart, covering about a month. On M5 the labels overwhelm the screen. On H4 the same scan reaches back most of a year.

The downsides

One bar either side is the smallest pivot there is.

So two hundred labels still crowds a chart.

Meanwhile a tag describes structure, not what comes next.

Objects survive a timeframe change until redrawn.

Copy the compiled Liquidity swing 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.

Download the Liquidity swing Indicator for MT4 and MT5

The zip holds the compiled Liquidity swing 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.

FAQ

What does PivotLookback 1 actually require?

One bar on each side failing to beat the candidate, which is the strict three-bar pivot and the smallest structure this method recognises. It finds many turns, so the labels are what sort them out.

Which colour does HHColor give a higher high?

Lime green, against tomato for a lower one. The tag comes from comparing each new swing high against the previous one, so the colour tells you the structure without reading the text.

What does MaxLabels 200 give you over 80?

Coverage. The earlier cap cut the chart short too soon, leaving recent structure unlabelled on a busy symbol. Two hundred spans a useful stretch without turning the chart into solid text.

Does the Swing High plot use a downward arrow?

Yes, code 234 pointing down above the bar. That keeps the mark clear of the candle it belongs to, and the direction of the symbol is a placement choice rather than a signal.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Liquidity swing Indicator as one input. Always backtest before trading live.