Supply and demand v2

2 ธ.ค.

Supply and Demand v2
This Pine Script indicator is designed to identify and visualize supply and demand zones on a trading chart, using three different lookback periods for comprehensive analysis. The script features brightened colors for clear visibility and provides real-time alerts for price entry into these zones.

Key Features:
Multi-Period Analysis:

Near Lookback: Analyzes the most recent 30 bars to identify short-term supply and demand zones.

Medium Lookback: Uses a lookback period of 300 bars to capture intermediate supply and demand zones.

Far Lookback: Examines a larger timeframe of 3000 bars to detect long-term supply and demand zones.

Visual Representation:

Supply Zones: Plots the identified supply zones in brightened red shades for clear visibility.

Demand Zones: Marks the demand zones in brightened green shades for easy differentiation.

Opacity and Color Intensity: Adjusts the opacity and color intensity to distinguish between near, medium, and far lookback periods.

Alerts:

Provides real-time alerts when the price enters any of the identified supply or demand zones, enabling traders to take timely actions.

How It Works:
Supply Zones: The script identifies the highest high and lowest low within each lookback period (near, medium, far) and plots these levels as supply zones.

Demand Zones: Similarly, it identifies the lowest high and highest low within each lookback period to determine demand zones.

Alerts: When the price crosses into any of the plotted supply or demand zones, the script triggers an alert, helping traders stay informed about key levels.

This indicator helps traders to quickly identify significant supply and demand zones across different time frames, providing a clearer understanding of potential market reversals and trading opportunities. The visual cues and alert system make it an invaluable tool for technical analysis and strategic decision-making in trading...

6 ธ.ค.

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Description:

New in This Update:

Enable/Disable Lookback Periods: Flexibility to turn the Near, Medium, and Far lookback periods on or off, allowing for a more customized and cleaner chart view.

Improved Visualization: Enhanced zone color transparency for better distinction and readability on your charts.

Key Features:

Customizable Lookback Periods: Choose between Near, Medium, and Far lookback periods to identify supply and demand zones that matter to you.

Toggle Lookback Periods: Easily enable or disable each lookback period to declutter your chart and focus on the most relevant data.

Brightened Zone Colors: Enhanced visualization with brightened red for supply zones and brightened green for demand zones.

Alert System: Stay informed with real-time alerts when prices enter key supply and demand zones, ensuring you never miss an important trading opportunity.

How It Works: The Supply and Demand v2 indicator uses three customizable lookback periods to identify critical supply and demand zones on your chart. The zones are visualized with distinct colors, making it easy to spot potential reversal points and trading opportunities.

Customizable Lookback Periods:

Near Lookback: Short-term analysis with a lookback period of 30 bars (default).

Medium Lookback: Intermediate-term analysis with a lookback period of 300 bars (default).

Far Lookback: Long-term analysis with a lookback period of 3000 bars (default).

Supply Zones:

Identified at the highest highs over the specified lookback periods.

Visualized in various shades of red for easy identification.

Demand Zones:

Identified at the lowest lows over the specified lookback periods.

Visualized in various shades of green for easy identification.

How to Use:

Enable/Disable Lookback Periods: Toggle the visibility of Near, Medium, and Far lookback periods using the checkboxes in the settings.

Customize Lookback Periods: Adjust the number of bars for each lookback period to fine-tune the analysis according to your trading strategy.

Monitor Zones: Use the visual zones to identify potential supply and demand areas and set up alerts to get notified when prices enter these critical zones.

Happy Trading!.