Supply and Demand Indicator

[maahome]

Hi to everyone here. I have been using a supply and demand indicator for my trading. It is a very useful tool for me but I think it could be made more “vision friendly”. I have tried a number of different versions but I like the simplest one the most and it seems to provide indications that marry up with my trading style. The functionalityy is quite limited and I would like tit o have a couple of little tweaks to make it similar to another one I have seen. What I would like to be able to have the indicator be able to do is as follows:

Set some extra external input options and add the following functions

1. Add the ability to make the zones be either solid or no fill (border only)

2. Add the ability to change the colour of the zone when it is retouched (eg from say green to white etc)

3. Add the ability to select either solid or no fill on zone retouch

4. Add a pop up alert function when a zone is retouched that would show chart timeframe (30m 60m etc)  currency pair, touch price and time

If anyone would be able to do this I would really appreciate it. The indicator is attached

Thanks guys

maahome

• This topic was modified 11 years, 2 months ago by maahome.

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[mak]

Hi maahome,

 

I have another idea for a feature of a suply/demand indicator.

It would be great if one could specify the strenght of the showed S&D zone with setting the momentum in pips.

We know, that zones are different in regards to their relevance. The prices moves fast and further away from the best zones. If one could set the parameter of X pips, which would define this movement, than the indicator would show only the best zones, the ones from which the momentum was the strongest.

 

I hope i was clear enough

 

[maahome]

Hi mak,

 

Yes that is so but that would also depend on time frames as a possible zone on a 5 minute chart may will be a blip on the radar on a daily chart. If you wanted to look at that idea then I think it would need to be reflected as a percentage of the zone size somehow based on candle size perhaps (I do not know how we can quantify that). The current indicator has the setting to use narrow bands as true or false – this simply seems to apply the zone to the wick of the creating candle which attempts to aim at a top or bottom zone which is in theory a stronger rejection area.

Not being a coder I really do not know how these are calculated :( Hopefully someone will run with it :)

maahome

[mak]

maahome, you are correct, it does depend on the time frame, but that shouldn t be a problem. The setting in pips one would set, would depend on the TF he trades on. Simple:)

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