This script aggregates and analyses total USD market liquidity in trillions of dollars - albeit with lagged, weekly data (live data is not available in TradingView!)
There's a positive correlation with the total liquidity available in the world's largest economy and risk assets like BTCUSD
The formula for net liquidity is as follows and uses account balances at the Fed and of the Treasury's General Account:
This script shows positive prints when liquidity is above it's 7 day EMA and negative when below... don't use this on timeframes lower than the 1D chart!