Supply and Demand Multi Timeframe Indicator
This is a multi timeframe version of the Supply and Demand indicator. It allows to analyze a chart using the law of supply and demand on different timeframes at a time. You will see zones of sales and purchases and determine the most profitable points to open positions. The indicator is based on the principle of market fractality.
Chart zones show places where a strong buyer or seller has made the price reverse and change its direction. The indicator has several types of zones calculation. Color and type of zones displaying are set as desired. The zone width can be displayed in pips. Font and color of the zone can be changed. You can also enable notifications when price is touching a zone of one timeframe or when price is in both zones at one time.
The indicator settings
- Print zones only after full outside bar close — display level only if potential zone is not touched;
- Type of zone — zone calculation principle:
- StandartZones — zone border is calculated using an average value of open and close prices of neighboring bars;
- ZonesWithFullCandles — zone border is calculated as Low of a bar which has formed a supply zone, or High of a bar which has formed a demand zone correspondingly;
- ZonesWithWicksOnly — zone border is calculated as the highest value among open/close prices of the bar which has formed the supply zone and the lowest value for the demand zone correspondingly;
- CertainZoneWidth — certain zone width.
- Width of zone — zone width in pips (used if CertainZoneWidth is chosen as Type of zone);
- Draw zones on chart — if set to false zones are not displayed on the chart;
- Colour of Supply levels — color of supply zones;
- Colour of Demand levels — color of demand zone;
- Draw zones with background — whether to fill zones with a color;
- Show the zone width — show width of zones (in pips);
- Font size of zone width display — zone width font size;
- Colour of zone size display — zone width font color;
- Timeframe of additional zones — timeframe of additional supply and demand zones;
- Colour of additional TF Supply levels — color of additional timeframe's supply zones;
- Colour of additional TF Demand levels — color of additional timeframe's demand zones;
- Draw additional zones with background — whether to fill zones with a color;
- Turn on the alerter — enable sending notifications if zones of supply and demand are touched;
- Alert only when price is in both TF zones — send notifications when the price is in zones of both timeframes.