OPEN-SOURCE SCRIPT
Supply Demand by WowTradingInfo
This indicator identifies supply and demand zones based on price action, which is a crucial concept for technical analysis. Supply zones represent areas where the price has historically shown selling pressure, while demand zones show areas with strong buying interest.
Explanation:
Rally-Base-Rally (RBR):
A rally is defined as a price movement where the percentage increase between the current high and the previous low.
A base is defined as a period of consolidation where price stays within a narrow range, with low volatility.
A RBR pattern is detected when a rally occurs, followed by a base, and then another rally.
Drop-Base-Drop (DBD):
A drop is identified when the price decrease between the current low and the previous high.
A DBD pattern is detected when a drop occurs, followed by a base, and then another drop.
Zone Marking:
RBR Zones are drawn with repaint the candles color as yellow (where buyers are likely to step in).
DBD Zones are drawn with repaint the candles color as pink (where sellers are likely to step in).
Example Use Case:
Rally-Base-Rally: When you see a yellow zone, it suggests that price rallied, consolidated, and is likely to rally again. It can be used as a potential demand zone.
Drop-Base-Drop: pink zones indicate that price dropped, consolidated, and may drop again. It can be used as a potential supply zone.
This script will help you automatically detect and visualize RBR and DBD patterns on your TradingView chart. These zones can provide valuable insights into areas where price may react due to past buying or selling pressure.
Explanation:
Rally-Base-Rally (RBR):
A rally is defined as a price movement where the percentage increase between the current high and the previous low.
A base is defined as a period of consolidation where price stays within a narrow range, with low volatility.
A RBR pattern is detected when a rally occurs, followed by a base, and then another rally.
Drop-Base-Drop (DBD):
A drop is identified when the price decrease between the current low and the previous high.
A DBD pattern is detected when a drop occurs, followed by a base, and then another drop.
Zone Marking:
RBR Zones are drawn with repaint the candles color as yellow (where buyers are likely to step in).
DBD Zones are drawn with repaint the candles color as pink (where sellers are likely to step in).
Example Use Case:
Rally-Base-Rally: When you see a yellow zone, it suggests that price rallied, consolidated, and is likely to rally again. It can be used as a potential demand zone.
Drop-Base-Drop: pink zones indicate that price dropped, consolidated, and may drop again. It can be used as a potential supply zone.
This script will help you automatically detect and visualize RBR and DBD patterns on your TradingView chart. These zones can provide valuable insights into areas where price may react due to past buying or selling pressure.
סקריפט קוד פתוח
ברוח TradingView אמיתית, מחבר הסקריפט הזה פרסם אותו בקוד פתוח, כך שסוחרים יוכלו להבין ולאמת אותו. כל הכבוד למחבר! אתה יכול להשתמש בו בחינם, אבל השימוש החוזר בקוד זה בפרסום כפוף לכללי הבית. אתה יכול להכניס אותו למועדפים כדי להשתמש בו בגרף.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.