SMC Course
Full glossary
Liquidity

External range liquidity (ERL)

Also known as: erl

In Smart Money Concepts (SMC) trading, External range liquidity refers to:

Liquidity sitting at the edges of a range, that is the highs and lows themselves. Price tends to move between ERL and internal range liquidity.

Learn this in full in the lesson:

ERL & IRL

Related terms

Internal range liquidity (IRL)Liquidity

Want to learn the whole Smart Money Concepts method for free?

Start the free SMC course