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Demand Supply Zone Indicator

已更新

The Demand Supply Zone indicator helps in identifying the Demand Supply zones on chart by pinpointing them. The indicator looks for patterns of Drop-Base-Rally and Rally-Base-Rally and when such pattern is available the indicator marks it as DZ ( Demand Zone ). Likewise, if the indicator finds a pattern of Rally-Base-Drop or Drop-Base-Drop the indicator marks it as SZ ( Supply Zone ). The basing candles are changed to Blue color and the Legout candle is changed to Black color.

The setting for legout strength can be customized as follows

1 – Good Legout Strength
1.5 – Strong Legout Strength
2 - Very Strong Legout Strength

The setting for number of candles in the basing can be customized from 1 to 6.

Use the link below to obtain access to this indicator.

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The Demand Supply Zone indicator has been update to Version 2.0. New version has a lot more features added. List of all the features is provided below.

1. You can choose which patterns the indicator should identify.
2. Number of candles in basing from 1 to 6.
3. Strength of the legout.
4. Identify follow-through patterns.
5. Hide Single Legout patterns.
6. Strength of the first legout in follow through pattern.
7. Strength of the second legout in the follow through pattern.
8. Customize Basing Color
9. Customize Legout Color
10. Display Pattern Name
11. Proximal and Distal Values
12. Color customization for Demand Supply Zone Labels

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Bug Fix

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Bug fix for pattern identification

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Bug Fix

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Number of Labels increased from 50 to 500

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Changed few default options

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Version 3
Automatically draws the Demand and Supply zones

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Bug Fix

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Option added to change the Proximal Distal Line Width

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New In Version 4

1. Option to use the indicator for multiple timeframe analysis.
2. Customize Proximal Distal Line Width
3. Customize Legout color based on Drop or Rally

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This update adds cosmetic changes to the indicator. You can now customize the color of

1. Fresh Demand Zone Border
2. Fresh Supply Zone Border
3. Tested Demand Zone Border
4. Tested Supply Zone Border
5. Fresh Demand Zone Fill Color
6. Fresh Supply Zone Fill Color
7. Tested Demand Zone Fill Color
8. Tested Supply Zone Fill Color

You can also customize the zone border width.

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Code enhancements

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Bug Fix - If the indicator is already applied to your chart please remove it and add it again. If the indicator name will starts with 4.2.1, you have the latest version.

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Bug fix

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Code optimization

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Code optimization.

New feature to show current settings on the chart top right corner.

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Code optimization and grouped options in indicator settings.

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Code optimization

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Version 4.2.5
Code optimized and a bug fix.

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Features Added in Version 5.0
1. Automated Curve Analysis.
2. Automated Zone Violations (recent 2 zones)

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Curve analysis will not give error even if the zones are far back in history.

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The following 2 new features have been added
1. Option to mark the zone using WickToWick or BodyToWick method.
2. Option to display Proximal and Distal values inside the zone.

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Changelog: