Supply and Demand Candles

1038 7
This Indicator helps in identifying the Basing and exciting candles with respect to Supply and Demand Analysis methodology
Release Notes: Blue Candle represents the Boring Candles ==> Demand and Supply is in balance
Black Candle represents the Exciting Candles ==> imbalance between Demand and Supply
Release Notes: Code Optimization
Release Notes: Added moving average for trend determination
Release Notes: code optimization
Release Notes: code optimization
Release Notes: code optimization
Release Notes: modified candle range
Release Notes: Code optimization
Release Notes: Added Input parameter to determine legout strength
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Automatic Demand and Supply zone Indicator is available. Any body interested can use the indicator "Demand and Supply Zones indicator"
+1 Reply
So do you look to the boring candle blue one then immediately if there is a explosive black candle you then would draw your supply or demand zone from the boring candle? Thanks!
ConfidentSelfTrader WallStreetTradingRoom
@WallStreetTradingRoom, In demand and supply trading. we look for Rally base Rally, Rally base Drop, Drop base Rally and Drop base Drop, blue color candle forms the basing, and then black color candle forms the legout. i draw the demand and supply zones from the boring candle. having said that not all zones are trade able zones, My methodology is purely mechanical, it involves multiple time frame analysis. i look for quality + probability zones to trade.

Can you explain abiut the color....?
MrMama MrMama
Typo error... about
@MrMama, Do you follow Supply and Demand methodology? blue candles represents basing candle and black ones the explosive move candle, yellow is the normal green candle you see on the chart, i have changed it to yellow for my convenience and red candle remains red.
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