Supply and Demand Anchored [LuxAlgo]

7 sept 2023

The Supply and Demand Anchored indicator is an anchored version of the popular Supply and Demand Visible Range indicator. Once adding the indicator to the chart, users need to manually select the starting and ending points for the indicator's calculation. The estimated supply/demand zones are then extended.

🔶 USAGE



The proposed indicator makes use of the same method highlighted in previous posts (see related scripts section below) to estimate supply and demand zones.

When adding the indicator to the chart, users will be prompted to select a starting and ending point for the calculation of the supply and demand zones, click on your chart to select those points.



Once calculated, each zone/level will be extended to the right of the chart. These can be used as support/resistance zones. Clicking on one of the graphical elements of the indicator or the indicator title will highlight the starting and ending calculation points, these can be dragged to be set at different locations.

🔶 SETTINGS

• Threshold %: Percentage of the total visible range volume used as a threshold to set supply/demand areas. Higher values return wider areas.
  
• Resolution: Determines the number of bins used to find each area. Higher values will return more precise results.
  
• Intra-bar TF: Timeframe used to obtain intra-bar data.
  

🔶 RELATED SCRIPTS