Supply & Demand (OTC)

Supply & Demand - Advanced Zone Detection
Overview

This indicator is a sophisticated tool designed to automatically identify and draw high-probability supply and demand zones on your chart. It analyzes pure price action to find key areas where institutional buying and selling pressure has previously occurred, providing you with a clear map of potential market turning points.

Unlike basic supply and demand indicators, this script is built with a proprietary engine that intelligently defines zone boundaries and filters for the most relevant price action patterns. It's designed to be a clean, professional, and highly customizable tool for traders who use supply and demand as a core part of their strategy.

Features

Advanced Zone Detection: Automatically finds and draws supply and demand zones based on significant price imbalances.

Reversal & Continuation Patterns: Identifies all four major price action patterns: Rally-Base-Drop (RBD), Drop-Base-Rally (DBR), Rally-Base-Rally (RBR), and Drop-Base-Drop (DBD).

"Level on Level" (LoL) Analysis: Automatically detects and labels zones that are stacked closely together, highlighting areas of potentially high liquidity and significance.

Wider vs. Preferred Zones: Choose between two zone definition modes. "Wider" mode draws the zone based on the full range of the consolidation, while "Preferred" mode refines the entry line based on key price action within the base, offering more precision.

Smart Zone Display: Intelligently displays only the most relevant zones closest to the current price, keeping your chart clean and focused. Supply zones above the current price and demand zones below are automatically prioritized and displayed based on your settings.

Customizable Zone Interaction: Control how zones react after being tested. Zones can change color on a first touch and be automatically deleted after a significant violation, which you can define by a percentage.

Customizable Visuals & Alerts: Fully customize the colors of all zones and candles. Enable or disable alerts for new zone creation and zone touches to stay on top of market movements.

How to Use

Identify Zones: The indicator will automatically plot supply zones (red) above the price and demand zones (green) below the price. These are potential areas to look for trade entries.

Assess Zone Strength: The strongest zones are typically "fresh" (untouched) and are formed by a strong, explosive move away from a tight consolidation (a small number of base candles).

Use Labels for Context: The floating labels (RBD, DBR, RBR (LoL), etc.) provide immediate context about the price action structure that formed each zone. "LoL" indicates a "Level on Level" zone, which may be of higher importance.

Wait for Confirmation: For the highest probability setups, wait for the price to return to a zone and show signs of rejection (e.g., reversal candlestick patterns) before considering an entry.

Settings Overview

Zone Definition: Control the core logic, such as including continuation patterns, setting the max number of base candles, and choosing between Wider and Preferred zone types.

Zone Display & Limits: Toggle limits on or off, and specify the maximum number of supply and demand zones to show on the chart.

Zone Interaction: Define how zones react to being tested, including the percentage required to delete a zone.

Colors & Style: Fully customize the appearance of zones, labels, and price candles.

Alerts: Enable or disable alerts for key events.

Disclaimer

This indicator is a tool for market analysis and should not be considered financial advice or a signal provider. Always use proper risk management and conduct your own analysis before making any trading decisions. Past performance is not indicative of future results.

版本注释

Updated the zone live logic

版本注释

updated the default settings

5天前

版本注释

Fixed a bug and simplified the settings.