Demand and Supply Candles-open — Indicator by CSTAcademyPurushothamGowda

TradingView

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volatility trendanalysis movingaverage demandandsupplyzones

This Script helps you identify the basing and explosive candles which can be used for Supply and Demand Analysis methodology
Blue Candle represents the Boring Candles ==> Demand and Supply is in balance
Black Candle represents the Exciting Candles ==> imbalance between Demand and Supply

If you are looking for automatic indicator for demand and supply zones, you will have to tradingview home page and in search bar drop down select people and in searchbox "ConfidentSelfTrader", then select SCRIPTS, then click on "Demand and Supply Zones indicator", scroll down and add it as your Favorite Scripts, then you can use "Demand and Supply Zones indicator" for free....

Release Notes: Updated the script to new pine script version (v4)

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

If you are looking for automatic indicator for demand and supply zones, you will need to go to tradingview homepage and in search bar dropdown select people and in searchbox enter 'CSTAcademyPurushothamGowda', hit enter. scroll down and select scripts, then click on "Demand and Supply Zones indicator", scroll down and add it as your favorite scripts, then you can use "Demand and Supply Zones indicator" for free on your charts.

hey,
I get the candles to work, but the colored zones do not show up? am i doing something wrong?

tradebyday

@tradebyday, you need to draw zones using tradingview tools, for that you need to understand Demand and Supply analysis

CSTAcademyPurushothamGowda

@CSTAcademyPurushothamGowda, No, I think he meant the bars are not being colored. Same for me; bar color is not changing. I think barcolor is no longer supported. Plotcandle works, if you check off bar color on the settings of the chart.

marketrading001

@marketrading001, Please read the new changes in pine script language of color bar... can you see that my version is source code at top "@version=3" meaning it is in pine script version 3... i suggest to learn pine script first rather than jumping into directly copying the code... as a coder one need to have minimum knowledge of the coding language...
as per version 4 you can replace it with "barcolor( (Body_Range <= Candle_Range * 0.5) ? color.blue : na)"...
All the best.

CSTAcademyPurushothamGowda

@CSTAcademyPurushothamGowda, Still doesn't work. You can try it for yourself. Even after solving the undeclared identifiers that arise due to version 4, the barcolor will still not do its job.

marketrading001

@marketrading001, I have updated the script according to new version 4.... it works perfectly fine.

CSTAcademyPurushothamGowda

@CSTAcademyPurushothamGowda, I see why. I had another indicator that was overriding the bar color. Sorry about that.

By the ways, I PM'ed you regarding the demand/supply indicator. Hope you can get back to me, when you get the chance.

Thank you!

Thanks for making this indicator.

Gowdre-Seems to work just fine -Good Job !