OPEN-SOURCE SCRIPT
Updated Demand & Supply Zones [eyes20xx]
Demand & Supply Zones
This indicator helps to identify large moves driven by institutions.
What qualifies as a zone?
If the price moves (open to close) by more than a certain % in one candle or in a bullish / bearish run of candles, the zone is marked as a Demand or Supply zone .
0.8% is good for Crypto and Forex might be better with 0.4%. Play around with the % to match your requirements.
Active zones
A zone remains active until it is hit by the price. When it becomes inactive, the zone background becomes transparent.
Zone lines
Lines are displayed if the zone is active and within a certain % of the close. 3% is a good setting for Crypto.
A maximum of two lines are displayed for each zone type.
This indicator helps to identify large moves driven by institutions.
What qualifies as a zone?
If the price moves (open to close) by more than a certain % in one candle or in a bullish / bearish run of candles, the zone is marked as a Demand or Supply zone .
0.8% is good for Crypto and Forex might be better with 0.4%. Play around with the % to match your requirements.
Active zones
A zone remains active until it is hit by the price. When it becomes inactive, the zone background becomes transparent.
Zone lines
Lines are displayed if the zone is active and within a certain % of the close. 3% is a good setting for Crypto.
A maximum of two lines are displayed for each zone type.
Release Notes
- Use unix for x pos instead of bar index.
- Delete inactive zones first when zones are maxed.
- A little tidying up.
Release Notes
- Changed screenshot
Release Notes
- Make zone bigger when small
- A little more tidying up.
- Better screenshot with labels.
Release Notes
- Better screenshot with labels
Release Notes
- Add alerts.
- Add price labels to zone lines.
- Keep more zone data by not relying on label limitations.
Release Notes
- Added max value to inputs.
Release Notes
- Read me added.
Release Notes
- Removed readme
Release Notes
- changed defaults
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Add me as a friend on Discord or email me.
Discord username: backtestbot
Email: hi@backtestbot.com
Discord username: backtestbot
Email: hi@backtestbot.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Add me as a friend on Discord or email me.
Discord username: backtestbot
Email: hi@backtestbot.com
Discord username: backtestbot
Email: hi@backtestbot.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.