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.
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Use unix for x pos instead of bar index.
Delete inactive zones first when zones are maxed.
A little tidying up.
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Changed screenshot
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Make zone bigger when small
A little more tidying up.
Better screenshot with labels.
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Better screenshot with labels
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Add alerts.
Add price labels to zone lines.
Keep more zone data by not relying on label limitations.
@eyes20xx Can you make option to choose which patterns (RBR, DBD, RBD, DBR) the indicator should identify? Btw, I really appreciate your work. Thanks sir.