Supply & Demand (MTF) | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Supply and Demand (MTF) Indicator! This new indicator renders Supply and Demand zones based on momentum candles. It can detect Supply and Demand zones across up to 3 diferent timeframes. It's capable of combining zones, retest & break labels and it's customizable with invalidation and style settings.
Features of the new Supply and Demand (MTF) Indicator:
Renders Supply and Demand Zones Across 3 Timeframes
Combination Of Overlapping Zones
Retest & Break Labels
Retest & Break Alerts
Enable / Disable Historic Zones
Visual Customizability
📌 HOW DOES IT WORK ?
Supply and Demand is a key concept in trading. It helps traders see the zones that market-makers buy & sell the asset in large amounts. It's detected by finding momentum candles (candles that have large bodies) in a row.
Momentum candles are defined to have a larger body than the average candle in the chart, and at least 4 of them in a row is required to draw a supply or demand zone. The zone is drawn from the high wick to low wick of two candles before the first momentum candle in the row.
Check this example :
These zones are usually where market makers trade the asset in larger amounts. Thus, they act as support & resistance zones by their nature. A retest of these zones can make the price bounce to the opposite direction, while a breakout usually means strong price action momentum is incoming in that direction. Supply zones indicate bearish momentum while demand zones indicate bullish momentum.
Check this example :
Here a Supply Zone (Bearish) forms. Then price comes back up to test the zone, and it fails to break. After the failed attemp, a stong bearish momentum takes the price back to a lower level. Then another test of the zone occurs and successfully breaks the zone this time. This breakout starts a bullish momentum that takes the price to a higher level.
🚩UNIQUENESS
This indicator provides Supply and Demand zones in your chart with pure simplicity. It supports up to 3 different timeframes as we believe supporting your trades with higher timeframes can improve your trading experience. It also gets rid of complexity by combining overlapping zones into a single zone, even if they are from different timeframes! You can also set-up alerts to get notified when a supply or demand zone is being retested, or is broken. Overall, this indicator is the ultimate kit for supply and demand zones.
⚙️SETTINGS
1. General Configuration
Max Distance To Last Bar -> The maximum distance that the indicator will render supply and demand zones from. Higher settings mean rendering older supply and demand zones.
Zone Invalidation -> Select between Wick & Close price for Supply and Demand Zone Invalidation.
Retests & Breaks -> Enable retest & break labels in your chart.
Show Historic Zones -> This will show historic supply & demand zones which are invalidated if enabled. You can disable this to only see active supply and demand zones for a simpler chart.
2. Timeframes
You can set up to 3 different timeframes and enable / disable them using the checkboxes in this section.
Supplyanddemmand
Supply & Demand Trade Analyzer by NYTCSupply and Demand Trade Analyzer
Automatic Zone Identification
• Identifies high quality supply and demand zones on multiple timeframes
• Shows the prices for each zone so the user may easily identify actionable prices to buy or sell
• Once a zone is no longer valid, it is automatically removed from the chart to keep the workspace clean.
• Includes all 4 zone formations: DBR, RBR, RBD and DBD
What are supply and demand zones?
Supply and demand zones are visual representations of areas where there has been a price imbalance. Whenever a demand imbalance is detected, the indicator will plot a green demand zone which may be used as an area to buy under the right market conditions, such as an uptrend or to take profit on a short position. Also, whenever a supply imbalance is detected, the indicator will plot a red supply zone which may be used as an area to sell under the right conditions such as a downtrend or to take profit on a long position.
Automatic Trend Analysis
Proper trend analysis is one of the most important steps in successfully trading or investing in the financial markets as it helps the trader determine which side of the market, he/she wants to take: long or short. For this reason, we decided to also include in this indicator our unique trend analysis technique that utilizes highs and lows to detect when trends begin, how they continue and when they end. The indicator is able properly identify uptrends (Higher Highs and Higher Lows), downtrend (Lower Highs and Lower Lows), and sideways trends (relatively equal highs and lows, higher highs but lower lows or lower highs but higher lows).
• The trader can toggle this feature on or off as needed.
• Our unique trend indicator is located at the bottom of the chart so, as not to interfere with the candles and hide important information.
• When the indicator shows green, the trend is up, when it shows red, the trend is down and sideways when the indicator shows grey.
How it works
Being that supply and demand zones are areas of potential imbalance, under the right conditions price may reverse at these zones. Use them in conjunction with your entry and exit rules to maximize efficacy and minimize risk.
User Inputs
In the settings menu you will find the following functions:
• Zone Count: Allows the trader to determine how many zones are shown on the chart
• Zone-on-Zone: Give the trader the option to also see overlapping zones
• Minor Zones: While the indicator plots major zones by default, this function gives the trader to see all zones in real time as they are being formed.
• HTF Trend: Give the trader the option to turn on our unique trend identification tool
• LTF Momentum: Allows the trader to toggle on or off our unique lower timeframe momentum finder. This tool is best used during the Globex of the Futures session for short-term trading (scalping)
Instruments
Our Trade Analyzer works across all asset classes and on all instruments, including:
Stocks
Futures
Forex
Cryptocurrencies
Summary
The Supply and Demand Trade Analyzer offers traders a quick and easy way of identifying supply and demand or support and resistance areas on a chart. It provides:
• Zone Identification: Proper zone identification on multiple timeframes
• User-Friendly Customization: With a variety of user inputs, you can tailor the analyzer to fit your unique trading strategy.
• Cross-Asset Compatibility: Works seamlessly across all major asset classes and instruments.
• Clean Workspace: Automatic removal of invalid zones keeps your chart organized and focused on the most relevant information.
• Real-Time Insights: Stay ahead of the market with real-time zone plotting and trend analysis, enabling timely and strategic trades.
Institutional Supply and Demand ZonesThis indicator aims to identify price levels where institutional investors have positioned their buy or sell orders. These buy orders establish "demand zones," while sell orders create "supply zones." Identifying these zones enables us to anticipate potential reversals in price trends, allowing us to profitably engage in these significant market movements alongside major institutions. These zones are formed when price action goes from balanced to imbalanced. These zones are based on orders. Unlike standard support and resistance levels, when price breaks below a demand zone or above a supply zone, these zones disappear from the chart.
Supply is formed by a green candle followed by a major red candle that is at least double the size of previous green candle. The zone is then charted from the open of the green candle to the highest point in the candle. Vice versa for a demand zone (red into green).
These zones are traded by:
1. Look for a volume spike in a zone
2. A trend/trendline break out of the zone
FVG Detector [TradingFinder] Fair Value Gap-Imbalance-Mitigated🔵 Introduction
When the market makes a strong move in the form of a "Marubozu" or "Spike" candlestick and consecutive candles move without a retracement, the maximum place where a "FVG" or "Fair Value Gap" is created.
🔵 Definition
To describe this precisely, whenever a move occurs where the current candle does not cover the body of the previous and subsequent candles, a fair value gap is created.
Important : The significant point is that, because there is no equilibrium between buyers and sellers in these conditions, and market power is in the hands of buyers or sellers, the market is likely to move towards these areas.
An example of "FVG" in a price increase where we expect buying on the return to it.
An example of "FVG" in a downward trend where the market will move towards it in a downward direction.
🔵 How to Use
🟣 Bearish FVG
In a downward trend, "orange boxes" are drawn, which are the same and can act as "support" zones along the downward path, and we expect the price to continue its downward trend on return.
🟣 Bullish FVG
In an upward trend, "green boxes" are drawn, which are . They act exactly like support in the upward path, and we expect the price to continue its upward trend on return.
🟣 Auxiliary Definitions
Imbalance : As mentioned above, market power is in the hands of one of the two sides, buyers or sellers, and a non-equilibrium zone is created. It may be completed in whole or in part in subsequent price movements.
Mitigated : If the price returns to the "FVG" area and fills it, we call it "Mitigated," and most "pending" or "profit and loss limits" positions are executed. We will not have a specific reaction on the return of the price.
🔵 Settings
Very Aggressive : In addition to the initial condition, another condition is added. For an upward FVG, the maximum price of the last candle should be larger than the middle candle's maximum price. Similarly, for a downward FVG, the minimum price of the last candle should be smaller than the middle candle's minimum price. In this mode, a very small number of FVGs are eliminated.
Aggressive : In addition to the conditions of the Very Aggressive mode, in this mode, the size of the middle candle should not be small. In this mode, a larger number of FVGs are eliminated.
Defensive : In addition to the conditions of the Very Aggressive mode, in this mode, the size of the middle candle should be relatively large, and the majority of it should be made up of the body. Additionally, to identify upward FVGs, the second and third candles must be positive, and to identify downward FVGs, the second and third candles must be negative. In this mode, a large number of FVGs are eliminated, leaving only those with suitable quality.
Very Defensive : In addition to the conditions of the Defensive mode, the first and third candles should not be very small-bodied doji candles. In this mode, the majority of FVGs are filtered out, leaving only the highest quality ones.
🔵 Features
Show Demand FVG : Displays demand-related boxes, which can be "off" and "on."
Show Supply FVG : Displays supply-related boxes along the path, and can be turned "off" and "on."
🔵 Indicator Advantages
In this indicator, I have implemented 4 types of "filters" that allow you to select one based on the trading symbol, timeframe, etc. From "Very Aggressive" to "Very Defensive" mode, it is possible to select.
In most indicators, all FVGs are displayed, and the chart becomes full of lines. But this unique feature allows the trader to manage the drawing of boxes.
Order Blocks Finder [TradingFinder] Major OB | Supply and Demand🔵 Introduction
Drawing all order blocks on the path, especially in range-bound or channeling markets, fills the chart with lines, making it confusing rather than providing the trader with the best entry and exit points.
🔵 Reason for Indicator Creation
For traders familiar with market structure and only need to know the main accumulation points (best entry or exit points), and primary order blocks that act as strong sources of power.
🟣 Important Note
All order blocks, both ascending and descending, are identified and displayed on the chart when the structure of "BOS" or "CHOCH" is broken, which can also be identified with "MSS."
🔵 How to Use
When the indicator is installed, it plots all order blocks (active order blocks) and continues until the price reaches them. This continuation happens in boxes to have a better view in the TradingView chart.
Green Range : Ascending order blocks where we expect a price increase in these areas.
Red Range : Descending order blocks where we expect a price decrease in these areas.
🔵 Settings
Order block refine setting : When Order block refine is off, the supply and demand zones are the entire length of the order block (Low to High) in their standard state and cannot be improved. If you turn on Order block refine, supply and demand zones will improve using the error correction algorithm.
Refine type setting : Improving order blocks using the error correction algorithm can be done in two ways: Defensive and Aggressive. In the Aggressive method, the largest possible range is considered for order blocks.
🟣 Important
The main advantage of the Aggressive method is minimizing the loss of stops, but due to the widening of the supply or demand zone, the reward-to-risk ratio decreases significantly. The Aggressive method is suitable for individuals who take high-risk trades.
In the Defensive method, the range of order blocks is minimized to their standard state. In this case, fewer stops are triggered, and the reward-to-risk ratio is maximized in its optimal state. It is recommended for individuals who trade with low risk.
Show high level setting : If you want to display major high levels, set show high level to Yes.
Show low level setting : If you want to display major low levels, set show low level to Yes.
🔵 How to Use
The general view of this indicator is as follows.
When the price approaches the range, wait for the price reaction to confirm it, such as a pin bar or divergence.
If the price passes with a strong candle (spike), especially after a long-range or at the beginning of sessions, a powerful event is happening, and it is outside the credibility level.
An Example of a Valid Zone
An Example of Breakout and Invalid Zone. (My suggestion is not to use pending orders, especially when the market is highly volatile or before and after news.)
After reaching this zone, expect the price to move by at least the minimum candle that confirmed it or a price ceiling or floor.
🟣 Important : These factors can be more accurately measured with other trend finder indicators provided.
🔵 Auxiliary Tools
There is much talk about not using trend lines, candlesticks, Fibonacci, etc., in the web space. However, our suggestion is to create and use tools that can help you profit from this market.
• Fibonacci Retracement
• Trading Sessions
• Candlesticks
🔵 Advantages
• Plotting main OBs without additional lines;
• Suitable for timeframes M1, M5, M15, H1, and H4;
• Effective in Tokyo, Sydney, and London sessions;
• Plotting the main ceiling and floor to help identify the trend.
Supply and Demand Anchored [LuxAlgo]The Supply and Demand Anchored indicator is an anchored version of the popular Supply and Demand Visible Range indicator. Once adding the indicator to the chart, users need to manually select the starting and ending points for the indicator's calculation. The estimated supply/demand zones are then extended.
🔶 USAGE
The proposed indicator makes use of the same method highlighted in previous posts (see related scripts section below) to estimate supply and demand zones.
When adding the indicator to the chart, users will be prompted to select a starting and ending point for the calculation of the supply and demand zones, click on your chart to select those points.
Once calculated, each zone/level will be extended to the right of the chart. These can be used as support/resistance zones. Clicking on one of the graphical elements of the indicator or the indicator title will highlight the starting and ending calculation points, these can be dragged to be set at different locations.
🔶 SETTINGS
Threshold %: Percentage of the total visible range volume used as a threshold to set supply/demand areas. Higher values return wider areas.
Resolution: Determines the number of bins used to find each area. Higher values will return more precise results.
Intra-bar TF: Timeframe used to obtain intra-bar data.
🔶 RELATED SCRIPTS
Supply and Demand Based Pattern [RH]This indicator focuses on detecting RBR and DBD patterns, which signify periods of increased momentum and potential continuation or reversal of the prevailing trend.
The RBR pattern consists of a rally (upward movement), followed by a base (consolidation or retracement), and then another rally. It suggests that the upward momentum may persist and provide trading opportunities.
On the other hand, the DBD pattern comprises a drop (downward movement), followed by a base, and then another drop. It indicates that the downward momentum might continue, offering potential shorting opportunities.
Bullish(RBR) example:
Bearish(DBD) example:
1. The bullish (RBR) and bearish (DBD) patterns share the same underlying logic, only differing in their directionality.
2. For both RBR and DBD patterns, the first rise/drop can consist of one or multiple candles. However, in the case of multiple candles, all candles must exhibit a bullish nature for RBR and a bearish nature for DBD.
Example:
3. It is a prerequisite for the first rise/drop to include at least one candle with a defined percentage of health, as determined by the user.
4. The base, following the first rise/drop, may comprise one or multiple candles.
Example:
5. To maintain consistency, the base is not allowed to retrace beyond 80%, although this value can be adjusted by the user.
6. Similar to the first rise/drop, the second rise/drop in both RBR and DBD patterns can consist of one or multiple candles. However, all candles within this phase must demonstrate a bullish nature for RBR and a bearish nature for DBD.
7. Confirmation of the bullish (RBR) pattern occurs when a candle closes above the high of the first rise. Conversely, the bearish (DBD) pattern is confirmed when a candle closes below the low of the first drop.
Example:
Alerts can be set for all bullish and bearish pattern or for the first pattern in the range of similar pattern.
Volume-based Support & Resistance Zones-V1 By Trade Mastership™ The all-new Support & Resistance Zones indicator, which has been upgraded to offer traders more powerful features and functionality. This innovative indicator identifies high-volume fractal lows or highs to create zones based on the size of the wick for that timeframe's candle. This makes it easy for traders to visualize which price levels are the most significant for either a trend continuation or a reversal when zones are broken and retested.
The original script for this indicator was created by Trade Mastership, with additional modifications by L N Behera. Credit goes to both of them for the majority of the logic behind this script. Since then, the script has been improved with several changes, including:
Changing the default S/R lines from plots to lines, and giving users the option to change between solid, dashed, or dotted lines for both S/R lines
Adding additional timeframes and more options for TF1, beyond the current TF. Now, users have four timeframes to plot S/R zones from
Giving users the option to easily change the line thickness for all S/R lines
Making it easier to change the colors of S/R lines and zones by consolidating the options under settings (rather than under style)
Adding extensions to active SR Zones to extend all the way right
Adding the option to extend or not extend the previous S/R zones up to the next S/R zone
Adding optional timeframe labels to active S/R zones, with left and right options, as well as the option to adjust how far to the right the label is set
Fixing an issue where the higher timeframe S/R zone was not properly starting from the high/low of fractal. Now, any higher timeframe S/R will begin exactly at the High/Low points. Note that this may not work perfectly on stocks, and if a fractal high/low is too many bars in the past, it will revert to a default max bars back to avoid script errors.
Adding a function to prevent S/R zones from lower timeframes displaying while on a higher timeframe. This helps clean up the chart quite a bit.
Creating arrays for each timeframe's boxes and lines so that the number of S/R zones can be controlled for each timeframe and limit memory consumption.
Adding new alert options and customized alert messages
Here's how this indicator works: it looks for fractal highs or fractal lows with volume that pierces above the volume's Moving Average. This moving average value can be modified in the settings for each timeframe. The fractal highs will be confirmed with three successive higher highs followed by two successive lower highs and vice versa for the fractal lows. The zone is created from the fractal high/low and the close of the candle for whatever timeframe you selected. The bigger the zone, the more significant that zone is.
Traders can disable any zone, change the zones to show lines only, and modify all the colors, transparencies, and thickness of lines for all the zones. To create alerts, traders can enable the types of alerts they want for each timeframe in the indicator's settings. After applying changes, right-click on one of the zones on the chart, and click "Add Alert on Vol S/R Zones." You do not need to add a title, as the correct alert messages are already built-in.
The latest update has migrated the script to Pine Script Version 5 and added a higher number of total boxes/lines to show on the chart. It has also increased the max bars count to the maximum Pine Script allows, enabling traders to utilize as many bars as possible when drawing the left side of SR zones that are very far back on the chart. Additionally, the update fixed issues where the indicator would not load on 1 minute and 3-minute charts unless higher timeframe SR zones
Auto Fib ZonesAuto Fib Zones is a extension of the ABC finder script that I released. It uses the pivot point system I developed in the ABC finder to identify major or significant trending moves in the market.
It will then draw the fibzones for the trend line. The fib zone will auto update for as long as the trend line continues (size will keep increasing).
The zones will continue to extend to the right along with price until it is tested. The start of the green teal zone is the 0.618 and fills to the 0.786 and the Blue zone is the 0.786 and fills to the trend start or 1 value of the fib.
You can adjust the Bars Back variable to require more or less candles to create/ validate a new trend. In the screen shot about it is set to 50 bars however I've seen good results on higher timeframes like 4h + with 15 bars as the setting.
This is basically ITC's Optimal Trade Entry concept at least that is what the original inspiration for modifying my base script was.
As always hope it helps. God bless
Diddly - Liquidity ZonesDiddly Liquidity Zones is an indicator to highlight where the liquidity exists in a market place.
What is Liquidity
Liquidity refers to the ability of an asset to be turned into cash. Cash is the more liquid form of any asset, whereas selling a house would take a little longer to liquidate and convert to cash.
Liquidity in financial markets is in essence based on the same principle and refers to how easily an asset can be bought and sold.
Liquidity in simple terms is the volume of participants who are willing to be involved in the market at any given time. Markets are based on auction theory, the more participants who want to buy at a certain price than sell, will dictate that the price goes up. As a result it is important to understand the role that volume has in financial markets, as volume will directly correlate to liquidity and supply and demand.
What does it mean?
Areas of abnormal liquidity and volume can lead to a price range where there is high supply and demand, which in turn can become a zone that forms a support and resistance level in the future. As we all know what happens in the past does not mean it will happen in the future, but what liquidity zones will tell us is that in the past a higher number of people were interested in doing business at those prices, which is critical information when making trading decisions.
Although markets are based on auction theory, sadly we don't have the advantage of a traditional auction, where we are all sitting in a room putting our hands in the air when we are interested in paying x price for a particular item. In this environment it is very clear to see how popular the item for sale is and whether it is possible to pick up a bargain.
Being able to identify liquidity areas on a chart, provides an insight into market sentiment at a given price range. Also we have to consider that typically most retail traders participate in very liquid markets, where you can get in and out of a position with relative ease.
There are obviously exceptions, extremely low float stocks, but on the whole with liquid assets it takes some big orders to move price, especially with currencies and high float stocks. Understanding these principles helps us as retail traders identify where the big money is seeing a bargain, if buying or overpriced if selling.
However you identify liquidity, I hope you agree that it is an extremely important element to be considering before taking a trade. The last thing any trader wants to be doing if they can help it, is selling where the market perceives price to be a bargain and buying when overpriced.
Just as a side note, high and low "Float Stocks" refers to the number of shares in general circulation for buying and selling.
What is Diddly Liquidity Zones
This liquidity zones indicator in simple terms will plot zones on the chart and make an assessment of whether this is predominately buying or selling liquidity. Price will frequently come back to test areas of liquidity before making any further continuation in a specific direction. This is why liquidity zones are often described as areas of support and resistance.
How does it Work
To identify these zones the indicator is looking at a number of pieces of information predominantly based on volume.
Volume
Rate of Change
Relative Strength
From these calculations the algorithm is then looking for the standard deviation away from the normal, to identify exceptions that then become the liquidity zones. These can be classified up to 4 levels, the first being the weakest exception to four being the strongest. By default 3 levels are displayed.
What is the Indicator Showing me?
The Liquidity Zones indicator comprises two basic elements: Bull Zones and Bear Zones.
Zones that are not broken in the past are projected forward and can act as strong support and resistance levels that can also be used for targets or ignoring a trade due to lack of room above or below.
Here on AUDCHF 15 minute chart, during March 2023, it provides an example of the three indicator zone types. Details have been annotated on the chart.
The third type of zone is a “Trap Zone” which can be extremely powerful for identifying potential reversals. A Trap Zone can be either Trapped Buyers or Trapper Sellers. In essence it is a Zone that is identified, but price can never trade above or below in the direction of the zone.
As an example if a bear zone is identified and price fails to trade below the lower edge and bounces immediately out of the top. The trap is set and the indicator changes the zone from the default green (bull) or red (bear) zone to a different colour, which is orange by default.
As price moves higher away from the zone, those in their short positions start to feel the pain. The higher the move away before a retracement the higher the pain. When the retracement finally comes and price returns to the zone, you will often see price bounce off the zone for the move back to retest the highs, following the same principles of support and resistance.
In this example above a resistance level is broken, which has been identified by a volume exception identified by the indicator, when price returns to that area it now becomes support as those traders in short positions look to cover at breakeven.
Here on EURUSD 15 minute chart, during the last week in March 2023, it provides a great example of a "trap zone" setup. Details have been annotated on the chart.
Usage
This indicator will compliment any existing strategy or could be traded as part of a support and resistance trading strategy. One of the great advantages of support and resistance is that levels and zones are identified ahead of time, so trades can be planned and considered well in advance.
There is also the advantage of where to stop out, once a support or resistance level is broken then we no longer want to be in that trade. We have to accept the facts that the market sentiment has changed and no longer sees price here as good value for bull zones or overpriced at bear zones.
You will sometimes see spikes of price through a zone, where the market has grabbed the liquidity in the form of stops on the other-side, which can be extremely frustrating as a trader, but important to understand that it does happen and why it is happening.
You will find liquidity zones on all charts, from the daily to the 1 second chart. The higher the timeframe, the wider the zones are. As a result we would not recommend planning an entry purely on a daily zone, but it is extremely useful information when drilling into the lower time frame charts. So using multiple timeframe analysis is a really useful technique when looking to understand a market.
There are a number of elements to consider before taking entries around support and resistance levels. The most important thing to remember is these levels have to break at some point, otherwise price would never go anywhere. Understanding that these levels can fail is important and is the reason we should always have clearly defined stops and manage risk.
You may also want to consider higher timeframe trend analysis to try and ensure you are trading with the trend. First and second retests work better as these zones will weaken over multiple retests as traders give up on that area, as it no longer is giving the reactions of price that it used to.
The easiest entry method when working with support and resistance levels, is to place limit orders in the market. This is not a recommended approach, although it can be useful for traders who can't sit in front of charts all day. By taking this approach you would want to ensure that you are trading with the predominant trend on a higher timeframe and are in effect using these levels on a lower timeframe as pullback entries. You would also want to ensure that you have a wide enough stop to ensure that any spikes through don't stop out the trade, so using an Average True Range multiplier can be very helpful. The key point is don't oversize and manage risk.
A better approach to identifying entries would be to look at price action on a lower time frame chart, once price has arrived at the level.
A more conservative approach would be to wait for price to close outside the zone in the direction you want to trade on the signal chart and look for an entry on the retest of the top of the zone for buys or the bottom of the zone for the sells, with the stop the other-side of the zone.
For the purpose of examples we will focus on the last two methods, although there are many sources of information on how to trade support and resistance levels, so please don't take the above as the only way to plan or take entries.
Multiple Timeframe Alignment
Here on a stock asset MSFT (Microsoft), we have a zoomed out 15 minute chart. The top left is August 2022 and the bottom right is November 2022, which is quite a sell-off and there were many opportunities to the short side, although many traders would have been looking to see when this stock was at a bargain price.
Here on the 7th November 2022, there were the first signs of a potential change in market sentiment, as the indicator identified a Bull Zone on the 15 minute chart. At this stage the stock has been beaten up for a long time and there is a Bear Zone, above price - so not much distance to get a decent risk reward trade as yet.
Then on the Thursday of the same week, price came back to test the high of this previously created Bull Zone, after being rejected from the Bear Zone above.
So drilling into the 1 minute chart to find good risk : reward entries, price at the opening bell explodes through Bear Zones in the above chart and prints a big 1 minute Bull Zone. This on its own would be hard to trade, is it a fake out? price must surely retrace before a move higher, also there is a trapped buyers zone above price, so there will be a lot of liquidity and sell orders at that level.
Here again on the 1 minute chart, we see the breakout of the orange zone with a new Bull Zone (which is coloured blue, being a 2nd level zone) . Now we just want to see this zone being confirmed by breaking the top and then we would look for entries on the retest.
Price action is now ready for taking a buy entry for a short-term swing trade as illustrated on the next chart.
About a month later the price hit the target, as shown on the 4 hour chart.
The target was set on the 15 min chart, being the next substantial level of a bear zone. Also on the 1 hour chart above, a big green bull zone of liquidity was identified, so there's a fair chance that price will come back to retest liquidity before a greater move away. The trade planner has been removed from this chart, so it is easier to see the printed zones, but the entry was at the 238.00
You will see since January 2023 there have been many opportunities on this stock using the 15 minute chart to find zones to trades and manage risk. The one thing that is clear in this chart is where the market sentiment was on this stock as it made the run-up to current price.
Alerting
Utilising the power of TradingView Alerts enables you to monitor many pairs, when you are away from your charts. You can set up alert for the indicator, by right-clicking on a zone that you see on a chart and choose the first option that appears on the menu "Add Alert to Diddly Zones". You can also perform the same operation from the indicator tile that appears in the top left corner of the chart.
Within setting you can choose to be alerted under the following conditions:
When New Bull Zone has been Identified
When New Bear Zone has been Identified
When Price approaches a Bear Zone from below. Notifying traders that we are approaching a resistance level
When Price approaches a Bull Zone from above. Notifying traders that we are approaching a support level
When Price is Trading inside a Zone at a certain configurable time.
On the last point above: This is useful on a slightly higher timeframe, where large zones exist and you may want to be notified if this asset is trading in a zone at say the London open. You would have already been sent an alert telling you price was arriving at the zone, but that could have been a couple of days ago.
Key Settings
Within the indicator settings there are a number of options that are available to users. From changing the colours and their transparency of different zone types, to the number of exception levels that you want to see on the chart.
The most important ones that are in need of explanation are outline below:
To simplify the settings, the indicator is configured by using a similar analogy to driving style. The reason this is needed is because different assets and asset classes have different levels of liquidity, as a result the indicator requires some basic information to provide the best results. The principle being the faster you drive the more zones you will encounter.
To continue with the analogy, it is important not to drive too fast on a particular asset otherwise all you will see is zones and nowhere for price to go. If this is the case, slow the setting down or go to a higher time frame for a broader perspective.
Settings
"Determine Algo Driving Style" : Available options = "Slow", "Steady", "Sports", "Racing", "Rocket" (Default Setting = Sports)
So this is setting the speed of the indicator
"Turn on Turbo Mode" : True or False (Default Settings = True)
This setting will give the indicator a boost
"What type of asset is the Algo looking at" : Available Options = "Small Caps", "Large Caps", "Futures", "Currencies" (Default Setting = Currencies)
The only difference in these settings currently is a magnification element that is applied to the calculations, which is particularly relevant for highly liquid assets like currencies, futures and large cap stock. The only option that by default does not use the magnification element is Small Cap low float stocks, where liquidity is lower this setting is not required. This magnification can be change later in the settings under "Zone Identification Calculation Models"
Finally
We greatly appreciate the support and feedback from the Trading View community, and we are dedicated to continuing to improve our indicators with your support.
We want to help you manage risk, and that's why we emphasise that trading is risky and any technology used to support our trading decisions is based on information from the past. We encourage traders to take responsibility for their trading businesses and always prioritise risk management.
Support Resistance Channels/Zones Multi Time FrameHello All,
For long time I have been getting a lot of requests for Support/Resistance Multi Time Frame script. Here ' Support Resistance Channels/Zones Multi Time Frame ' is in your service.
This script works if the Higher Time Frame you set is higher than the chart time frame. so the time frame in the options should be higher than the chart time frame.
The script checks total bars and highest/lowest in visible part of the chart and shows all S/R zones that fits according the highest/lowest in visible part. you can see screenshots below if it didn't make sense or if you didn't understand
Let see the options:
Higher Time Frame : the time frame that will be used to get Support/Resistance zones, should be higher than chart time frame
Pivot Period : is the number to find the Pivot Points on Higher time frame, these pivot points are used while calculating the S/R zones
Loopback Period : is the number of total bars on higher time frame which is used while finding pivot points
Maximum Channel Width % : is the percent for maximum width for each channel
Minimum Strength : each zone should contain at least a 1 or more pivot points, you set it here. (Open/High/Low/Close also are considered while calculating the strength)
Maximum Number of S/R : the number of maximum Support/Resistance zones. there can be less S/Rs than this number if it can not find enough S/Rs
Show S/R that fits the Chart : because of we use higher time frame, you should enable this option then the script shows only S/Rs that fits the current chart. if you disable this option, all S/R zones are shown and it may shrink the chart. also you may not see any S/R zone if you don't choose the higher time frame wisely ;)
Show S/R channels in a table : if you enable this option (by default it's enabled) then lower/upper bands of all S/R zones shown in a table ( even if it doesn't fit the chart ). you can change its location. zones are sorted according to their strengths. first one is the strongest.
and the other options is about colors and transparency.
Screenshots before and after zoom-out:
after zoom-out number of visible bars and highest/lowest change and it shows more S/R zones that fits the current chart!
if you see Support Resistance zone like below then you should decrease ' Maximum Channel Width ' or you should set higher time frame better:
You can change colors and transparency:
You can change Table location:
Alerts added :)
P.S. I haven't tested it so much, if you see any issue please drop a comment or send me message
Enjoy!
