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EBA by bigmm

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This indicator identifies potential market saturation points by monitoring bid and ask levels relative to their historical extremes. It displays BUY/SELL labels when current prices reach 90% of their 499-bar historical range, suggesting possible exhaustion of market orders.

Key Features:
  • Works effectively on lower timeframes up to 1H
  • BUY labels show percentage distance from the period's lowest ask
  • SELL labels show percentage distance from the period's highest bid
  • Maintains only the most recent signals for cleaner chart presentation
  • Labels remain fixed to specific price/bar locations during zoom operations

Note: The percentage values represent how close the current price is to the historical extreme (0% = period low, 100% = period high), helping traders identify potential reversal zones based on order book dynamics.

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