PROTECTED SOURCE SCRIPT
Supply and Demand Plus [tambangEA]
The Supply and Demand Plus [tambangEA] is an advanced version of the highly-regarded Supply and Demand [tambangEA] indicator
https://www.tradingview.com/script/oyBSdV0O-Supply-and-Demand-tambangEA/
Designed to offer additional functionality for professional traders. Building on the core features of the original script, the "Plus" version incorporates enhanced zone selection capabilities and multi-timeframe Exponential Moving Averages (EMAs). This makes it a versatile tool for those who seek to refine their trading strategies using supply and demand principles while integrating trend-following techniques.
🔹 New Capabilities in Supply and Demand Plus [tambangEA]
1. Customizable Zone Selection:
Users can now choose which specific zones to display on the chart:
Continuation Trader
-Rally-Base-Rally (RBR): Bullish continuation zones.
-Drop-Base-Drop (DBD): Bearish continuation zones.
Contrarian Trader
-Drop-Base-Rally (DBR): Bullish reversal zones.
-Rally-Base-Drop (RBD): Bearish reversal zones.
This feature allows traders to filter the zones relevant to their strategy, reducing chart clutter and enhancing focus.
2. Multi-Timeframe EMAs:
🔹 The Meeting Zone: "Base"
-The meeting zone is where supply meets demand, often referred to as the equilibrium price range. In this range:
-Sellers are willing to sell at prices buyers are willing to pay.
-Trading volume is usually higher as transactions occur more frequently.
-On the candle chart, this area may appear as sideways movement (consolidation) or regions with balanced candle sizes and wicks, signaling relative agreement between buyers and sellers.
🔹 Key Observations in Candle Charts
-Breakouts: When prices break out of a meeting zone, they indicate that one side (buyers or sellers) has gained significant control. This can lead to new supply or demand zones.
-Retests: Often, prices return to test these zones (called pullbacks) before continuing in the dominant direction. Retests confirm the strength of a supply or demand zone.
-Volume Spikes: High trading volumes near these zones signify active participation and can validate the importance of the zone.
The indicator includes five Exponential Moving Averages (EMAs) that can be plotted across different timeframes simultaneously. This enables traders to:
Track trend strength and direction across multiple timeframes.
Identify dynamic support and resistance levels.
Combine EMA signals with supply and demand zones for confluence-based trading decisions.
EMA Settings:
Fully customizable periods (e.g., EMA 20, 50, 100, etc.).
Adjustable colors and thickness for each EMA.
Multi-timeframe capability to analyze higher or lower timeframes without changing the chart.
🔹 How It Works :
The script works through a series of processes:
1.Zone Identification:
-Uses historical price patterns and pivot levels to map out supply and demand zones.
-Zones dynamically adjust to reflect market conditions, staying relevant to current price action.
-The color of the Zone can be set individually
2.Volume and Market Context:
-Integrates volume analysis to filter out weaker zones.
-Highlights zones with confluence between high volume and price rejections, signaling areas of strong institutional interest.
3.Trend Integration:
-Employs proprietary logic to assess market trends, ensuring that traders only act on zones aligned with broader momentum.
-This feature minimizes counter-trend trades, which are inherently riskier.
4.User Customization:
-Fully customizable zone sensitivity, timeframe settings, and visual preferences allow traders to adapt the tool to their strategy.
Four EMAs in sequence from Chart EMAs to Daily EMA are indicators of a strong trend
The "Base" zone of RBR and DBD supported by Daily EMAs within the zone,
is a strong meeting of buyers and sellers in the past.
Zone can be calibrated how many percent comparison of open close candle to high low candle
the number of candles in Base can be set to the maximum number of candles
🔹 Utility for Traders
The indicator provides a clear roadmap for traders by:
-Identifying high-probability trade zones.
-Confirming entries with volume and trend data.
-Offering actionable insights in both trending and ranging markets.
🔹 Why It Stands Out
Unlike generic supply and demand indicators or trend-following tools, Supply and Demand Plus [tambangEA] incorporates an original approach by:
-Seamlessly combining zone identification, volume analysis, and trend confirmation into a single cohesive tool.
-Adapting dynamically to changing market conditions.
-Supporting advanced traders with MTFA, while remaining accessible to beginners with its intuitive design.
Example : Continuation Trader + Retests
The idea is when the "Base" zone occurs, then there is a meeting between buyers and sellers with a large enough volume and will leave a trace in the past.
In accordance with one of the principles in Dow Theory, namely History Repeats Itself, the price will return to the "Base" zone, before continuing the trend
Before
After
🔹 Update and Versioning
This script is an evolution of previous Supply and Demand [tambangEA] tools, incorporating valuable user feedback and innovative features. All future updates, including improvements and new functionalities, will be integrated within this script under the Update feature, ensuring continuity and ease of access for users.
🔹 Conclusion
We believe that success lies in the association of the user with the indicator, opposed to many traders who have the perspective that the indicator itself can make them become profitable. The reality is much more complicated than that.
The aim is to provide an indicator comprehensive, customizable, and intuitive enough that any trader can be led to understand this truth and develop an actionable perspective of technical indicators as support tools for decision making.
🔹 DISCLAIMER/RISK WARNING
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
All content, tools, scripts, articles, & education provided by [tambangEA] are purely for informational & educational purposes only. Past performance does not guarantee future results.
https://www.tradingview.com/script/oyBSdV0O-Supply-and-Demand-tambangEA/
Designed to offer additional functionality for professional traders. Building on the core features of the original script, the "Plus" version incorporates enhanced zone selection capabilities and multi-timeframe Exponential Moving Averages (EMAs). This makes it a versatile tool for those who seek to refine their trading strategies using supply and demand principles while integrating trend-following techniques.
🔹 New Capabilities in Supply and Demand Plus [tambangEA]
1. Customizable Zone Selection:
Users can now choose which specific zones to display on the chart:
Continuation Trader
-Rally-Base-Rally (RBR): Bullish continuation zones.
-Drop-Base-Drop (DBD): Bearish continuation zones.
Contrarian Trader
-Drop-Base-Rally (DBR): Bullish reversal zones.
-Rally-Base-Drop (RBD): Bearish reversal zones.
This feature allows traders to filter the zones relevant to their strategy, reducing chart clutter and enhancing focus.
2. Multi-Timeframe EMAs:
🔹 The Meeting Zone: "Base"
-The meeting zone is where supply meets demand, often referred to as the equilibrium price range. In this range:
-Sellers are willing to sell at prices buyers are willing to pay.
-Trading volume is usually higher as transactions occur more frequently.
-On the candle chart, this area may appear as sideways movement (consolidation) or regions with balanced candle sizes and wicks, signaling relative agreement between buyers and sellers.
🔹 Key Observations in Candle Charts
-Breakouts: When prices break out of a meeting zone, they indicate that one side (buyers or sellers) has gained significant control. This can lead to new supply or demand zones.
-Retests: Often, prices return to test these zones (called pullbacks) before continuing in the dominant direction. Retests confirm the strength of a supply or demand zone.
-Volume Spikes: High trading volumes near these zones signify active participation and can validate the importance of the zone.
The indicator includes five Exponential Moving Averages (EMAs) that can be plotted across different timeframes simultaneously. This enables traders to:
Track trend strength and direction across multiple timeframes.
Identify dynamic support and resistance levels.
Combine EMA signals with supply and demand zones for confluence-based trading decisions.
EMA Settings:
Fully customizable periods (e.g., EMA 20, 50, 100, etc.).
Adjustable colors and thickness for each EMA.
Multi-timeframe capability to analyze higher or lower timeframes without changing the chart.
🔹 How It Works :
The script works through a series of processes:
1.Zone Identification:
-Uses historical price patterns and pivot levels to map out supply and demand zones.
-Zones dynamically adjust to reflect market conditions, staying relevant to current price action.
-The color of the Zone can be set individually
2.Volume and Market Context:
-Integrates volume analysis to filter out weaker zones.
-Highlights zones with confluence between high volume and price rejections, signaling areas of strong institutional interest.
3.Trend Integration:
-Employs proprietary logic to assess market trends, ensuring that traders only act on zones aligned with broader momentum.
-This feature minimizes counter-trend trades, which are inherently riskier.
4.User Customization:
-Fully customizable zone sensitivity, timeframe settings, and visual preferences allow traders to adapt the tool to their strategy.
Four EMAs in sequence from Chart EMAs to Daily EMA are indicators of a strong trend
The "Base" zone of RBR and DBD supported by Daily EMAs within the zone,
is a strong meeting of buyers and sellers in the past.
Zone can be calibrated how many percent comparison of open close candle to high low candle
the number of candles in Base can be set to the maximum number of candles
🔹 Utility for Traders
The indicator provides a clear roadmap for traders by:
-Identifying high-probability trade zones.
-Confirming entries with volume and trend data.
-Offering actionable insights in both trending and ranging markets.
🔹 Why It Stands Out
Unlike generic supply and demand indicators or trend-following tools, Supply and Demand Plus [tambangEA] incorporates an original approach by:
-Seamlessly combining zone identification, volume analysis, and trend confirmation into a single cohesive tool.
-Adapting dynamically to changing market conditions.
-Supporting advanced traders with MTFA, while remaining accessible to beginners with its intuitive design.
Example : Continuation Trader + Retests
The idea is when the "Base" zone occurs, then there is a meeting between buyers and sellers with a large enough volume and will leave a trace in the past.
In accordance with one of the principles in Dow Theory, namely History Repeats Itself, the price will return to the "Base" zone, before continuing the trend
Before
After
🔹 Update and Versioning
This script is an evolution of previous Supply and Demand [tambangEA] tools, incorporating valuable user feedback and innovative features. All future updates, including improvements and new functionalities, will be integrated within this script under the Update feature, ensuring continuity and ease of access for users.
🔹 Conclusion
We believe that success lies in the association of the user with the indicator, opposed to many traders who have the perspective that the indicator itself can make them become profitable. The reality is much more complicated than that.
The aim is to provide an indicator comprehensive, customizable, and intuitive enough that any trader can be led to understand this truth and develop an actionable perspective of technical indicators as support tools for decision making.
🔹 DISCLAIMER/RISK WARNING
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
All content, tools, scripts, articles, & education provided by [tambangEA] are purely for informational & educational purposes only. Past performance does not guarantee future results.
Script protegido
Este script se publica con código cerrado, pero puede utilizarlo libremente. Márquelo como favorito y podrá usarlo en un gráfico. El código fuente no se puede ver ni modificar.
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