MSM Daily Bias Liquidity Target
- Indicators
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Muhammad Sirazul Monir
I am Muhammad Sirazul Monir from Bangladesh, a trader and MQL5 developer behind MSM Trading Tools.
I build practical tools for MetaTrader 5 that I use in my own trading:
- MSM Trade Manager - one-click trading with lot size by risk, break-even and trailing - Version: 1.6
MSM Daily Bias Liquidity Target is an indicator for MetaTrader 5 that shows the direction the day leans to and the nearest liquidity level price may move toward. It reads the previous day and week, the daily structure and the daily range, then shows BULLISH, BEARISH or UNCLEAR in a small panel and draws the liquidity target on the chart. It does not open trades. You decide if and when to trade.
Daily bias score
- Previous day candle (weight 2): a close above the prior day high counts bullish. Taking the prior high and closing back below counts bearish. The same rule applies to the low in reverse. An inside day counts zero.
- Previous week candle (weight 1), with the same rule.
- Daily structure (weight 1): higher highs and higher lows, or lower highs and lower lows, confirmed by close.
- 20-day range (weight 1): price in discount counts bullish, price in premium counts bearish.
A total of +2 or more shows BULLISH, -2 or less shows BEARISH, and anything between shows UNCLEAR. Each line of the score is shown in the panel, so you can see why the bias was chosen. All weights, the range length and the threshold can be changed in the inputs.
Liquidity target
When the bias is bullish or bearish, the indicator looks for the nearest untaken liquidity level in that direction: the previous day high or low, the previous week high or low, or the 20-day high or low. This level is drawn as a target line on the chart and shown in the panel with its price. When the bias is unclear, no target is drawn.
New York midnight open
- Midnight open lines of New York time for the last days, with automatic US daylight saving time and broker server time offset.
- The panel shows whether price is above or below the midnight open and whether that fits the bias, for example price below the midnight open on a bullish day.
Panel and controls
A compact panel shows the bias, every score line, the midnight open status, the target and the server time offset. Two small buttons hide or show the panel and move it to any chart corner. The choice is remembered after a restart.
How to use
- Attach the indicator to any chart of the symbol, for example M15.
- Read the bias and the score lines in the panel.
- Use the liquidity target and the midnight open as reference levels together with your own trading plan.
Alerts and notes
An optional pop-up and push alert can be sent when the bias changes on a new day. The broker server time offset is detected automatically and can also be set manually. The indicator needs D1, W1 and M5 history of the symbol.
Risk warning
Trading on margin involves a high risk of loss. The bias and the target are based on past price data and your settings. They cannot guarantee profit. Please test the indicator on a demo account first.
