Imbalances create pivot zones, a.k.a Supply & Demand / Support & Resistance / Orderblock zones.
1. Traders using Supply & Demand theory can quickly pinpoint imbalance zones created by BUY-to-SELL and SELL-to-BUY candles.
2. Trend Following traders can systematically catch and follow a trend based on pivot zones analysis.
3. Breakout traders can easily target pivot zones’ breakout and breakdown.
4. Take the guesswork out of risk management: manage stop-loss precisely behind pivot zones.
5. Analyze contrary pivot zones to set realistic profit targets.
By only comparing OHLC values to identify notable price actions, Bagang Pivot Zones avoids derived calculations with subjective parameters.
If the chart zooms out after adding an indicator, right-click the price scale and toggle "Scale price chart only” on.
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.