OPEN-SOURCE SCRIPT
Updated Supply & Demand
We can think of imbalanced as a signal of a huge order being filled.
For those who do not know what imbalanced candle are, an imbalanced candles are formed when the price move with force in a direction.
Taking the last 3 candles, when the wicks the of 1st and 3rd candle does not fully overlap the middle one, an imbalanced candle is formed.
Usually when a huge hands place its order it never gets filled entirely and the price usually comes back to this zone to fulfil the remaining order.
This indicator highlight range defined by previous high and low pivot right before an imbalanced candle.
Zones highlighted become zones to watch to enter a trade and become either supply or demand zone.
For those who do not know what imbalanced candle are, an imbalanced candles are formed when the price move with force in a direction.
Taking the last 3 candles, when the wicks the of 1st and 3rd candle does not fully overlap the middle one, an imbalanced candle is formed.
Usually when a huge hands place its order it never gets filled entirely and the price usually comes back to this zone to fulfil the remaining order.
This indicator highlight range defined by previous high and low pivot right before an imbalanced candle.
Zones highlighted become zones to watch to enter a trade and become either supply or demand zone.
Release Notes
Update screenshot with more visible trade ideaRelease Notes
Fix demand zone triggerRelease Notes
Update zone discovery, they are now more precisely draw after an imbalancedOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.