[KaraTread] Supply & DemandThe " Supply & Demand Indicator" is designed to analyze market supply and demand zones, identify key levels such as swing points (local highs and lows), and plot Fibonacci levels. Its primary goal is to detect potential entry points, set stop-losses, and determine take-profit targets based on market structure analysis.
Key Features:
1. Swing Points Analysis:
Automatically identifies local highs (Swing Highs) and lows (Swing Lows) on the chart.
Displays these points as circles on the chart, making it easier for traders to visualize market structure.
2. Fibonacci Levels:
Calculates key Fibonacci levels based on the current market structure.
Displays these levels on the chart with different line styles for better visual clarity.
Allows customization of coefficients for entry points, stop-losses, and take-profits.
3. Supply and Demand Zones:
Automatically draws rectangular zones illustrating areas of significant market activity (green for demand zones, red for supply zones).
These zones help identify potential reversal or continuation areas in the market.
4. Trend Reversal Detection (CHoCH and BOS):
Identifies key moments of trend changes (Change of Character, CHoCH) and structure breaks (Break of Structure, BOS).
Helps traders spot when the market is likely to change direction.
5. Live Levels Display:
The indicator creates live levels that update in real-time, showing the current zones and key levels.
Settings:
Structure Settings:
Show Swing Points: Enable/disable the display of swing points.
Structure Length: Sets the length of the structure for analysis.
Fibonacci Levels Settings:
Entry point coefficient: Coefficient for calculating the entry point.
Stop loss coefficient: Coefficient for calculating the stop-loss level.
Take profit coefficient: Coefficient for calculating the take-profit level.
Usage:
This indicator is a powerful tool for identifying market zones and is suitable for both manual and automated trading strategies. By combining swing point analysis, supply/demand zones, and Fibonacci levels, it provides traders with a visual representation of the current market situation, enabling more informed decision-making.
The indicator is ideal for all types of traders, especially those who rely on price action and wish to incorporate Fibonacci levels into their strategies.
Supply_zone
Manoj S/Rsupply and demand zone
supply and demand zone
supply and demand zone
supply and demand zone
RSI Supply / Demand ZonesLines plotted for the Low and High of the region of price that was Overbought or Oversold
(Low of the candle that became overbought and highest high in the Overbought period)
(High of the candle that became oversold and highest high in the Oversold period)
I like to use the dotted lines as pivot points for the reversal of the trend, and also pay attention to small tops and bottoms (normal lines) that form in strong trends, as they usually make for brief periods of acummulation/distribution before the continuation of the strong trend.
