RelicusRoad Liquidity Levels MT5
- Indicators
- Version: 2.297
- Activations: 10
RelicusRoad Liquidity Levels is a liquidity level indicator for MetaTrader 4 and MetaTrader 5 that draws a weighted equilibrium line with volatility-based levels above and below it, seven lines in total for the Simple and Smooth channel types.
Despite the name, the levels are volatility bands, not detected liquidity pools or stop clusters. The three levels above the center are called Sell levels and the three below are called Buy levels. On the chart they are labeled TP/SL-1 to TP/SL-3, with Safe Close on the center line, as reference points for targets and stops.
How it works
The center line, called the Neutral level, is a weighted average of a 12-period linear weighted moving average of the weighted price. The indicator then measures how far price strays above and below that line, weighting upside and downside moves differently, so the upper and lower bands can have different widths. Level 1 sits a fixed multiple of that deviation from the center, Level 2 is 1.5 times as far and Level 3 twice as far. Road Type picks one of five models:
- Simple Road Narrow (No-Repaint): a 61-bar average of past bars only, with seven lines and labels; the default.
- Simple Road Wide (No-Repaint): the same over 120 bars, for a slower channel.
- Smooth Road Narrow (Repaint): a centered 61-bar average that also uses later bars.
- Smooth Road Wide (Repaint): the centered version over 120 bars.
- Trend/Breakout Road (No-Repaint): a 21-bar average of past bars with tighter bands, drawn as three lines shifted 21 bars to the right, without labels.
The channel is recalculated when a new bar opens, not on every tick. No state such as balanced or extended is computed; the lines are levels to read, not signals.
What it draws
- Neutral level: the center line, dotted dim gray by default.
- Sell levels 1 to 3: above the center: Level 1 solid crimson, Level 2 dotted goldenrod, Level 3 dotted crimson.
- Buy levels 1 to 3: below the center: Level 1 solid light green, Level 2 dotted goldenrod, Level 3 dotted light green.
- Level labels: small gray text two bars right of the current bar, reading TP/SL-3 down to TP/SL-1, Safe Close, then TP/SL-1 to TP/SL-3, on Simple and Smooth only.
- Breakout lines: Sell Level 1, Neutral and Buy Level 1 only, projected 21 bars into the space right of price.
- Full history: the levels are indicator lines, so they run back across the bars set by Bar History.
Reading the chart
Treat the Neutral line as the balance point of recent prices and the outer levels as a measure of how far price has stretched from it. The indicator does not label price as balanced or stretched; that reading is yours.
Because upside and downside moves are weighted differently, the distance from the center to Sell Level 1 is often not the same as the distance to Buy Level 1. After a strong rise the upper band tends to widen more than the lower one.
The Breakout type sits ahead of price by 21 bars, so its three lines at the current bar come from the average of 21 bars earlier.
Inputs
Channel:
- Road Type: one of the five models above.
- Bar History: how many bars are calculated, 3000 by default and at most 5000.
- Sell Liquidity Level 1 to 3 and Buy Liquidity Level 1 to 3: show or hide each outer line; the labels on the upper lines follow the Buy switches and the labels on the lower lines follow the Sell switches.
- Neutral Liquidity Level: show or hide the center line.
Line styling, set separately for each of the seven levels:
- ROADLINES COLORS: one color per level.
- ROADLINES WIDTH: one to five pixels per level.
- ROADLINES STYLE: solid, dotted or another terminal line style per level; Level 1 lines are solid and the rest dotted by default.
Recommended use
Works on forex, gold (XAUUSD), indices and crypto, on any chart timeframe. Simple Road Narrow, the default, is a reasonable place to start before comparing the wider and smoother types.
Common questions
Can I read the channel from a higher timeframe? A Timeframe input exists, but in this build the higher-timeframe values are not matched to chart time, so the lines would not line up with the bars. Keep it on the current chart timeframe.
Can I rename the level labels? No. The ROADLINES NAMES fields do not change the chart labels, which always read TP/SL-1 to TP/SL-3 and Safe Close.
Why does Breakout Road show only three lines? That type computes Level 1 only, so the Level 2 and Level 3 switches do nothing there, and it draws no labels.
Do the No-Repaint types ever change? Their past values do not use later bars. The newest value is set when a bar opens, so after the chart is reloaded, recent closed bars can read slightly differently from what was shown live.
About and support
The Road channel is the core of RelicusRoad Pro. This listing publishes that channel on its own, for traders who want the levels without the rest of the system. It runs standalone.
Questions and support are handled in the product comments and through the mql5.com messaging system.
