Specification
I would like to develop an indicator based on smart money concepts (supply/demand zones, Break of structure)& would like to
add few trend detection confluences like RSI & Moving Averages.
So this is how indicator must work:
1. Must Detect Supply demand zones & mark on charts which pips count(size of zone) on all time frames
2. Filtering out zones
- Detecting fresh zones(non- tested)
- zones present near pivots( swing high or swing low)
- Zone sizes in pips( how big or small zone is, count in pips)
3. Must display Break of Structure (bearish or bullish) on all time frames.
4. We can add EMA 200 Filter ( Exponential moving average)
- If supply zone found below 200 EMA or not
- if demand zone found above 200 EMA or not
5. We can add RSI filters
- If supply zone found above 70 or 80 level(over bought) of RSI or not
- if demand zone found below 20 or 30 level (over sold) of RSI or not
6. Input and alert setting
- Option of choosing max bars count.
- option to get alert when price touches supply or demand on any TF
- option to get alert when price makes any Break of structure.
- option to choose RSI and EMA filter while finding Zones.
- Other basic inputs.
Pretty much it for now! this is a long term project, more features will be added and EA development in future.
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