Advanced Supply and Demand Indicator

19 oct

# Advanced Supply and Demand Indicator

This Pine Script™ indicator helps traders identify potential supply and demand zones in financial markets. It uses price action, volume, and historical data to plot these zones on your chart, providing valuable insights for trading decisions.

## Key Features:
- Automatically detects and plots supply and demand zones
- Customizable lookback period for zone identification
- Adjustable strength multiplier for more precise zone detection
- User-defined opacity for visual clarity
- Combines price action and volume analysis for improved accuracy

## How It Works:
1. Identifies significant price levels using a specified lookback period
2. Analyzes volume data to confirm potential supply and demand zones
3. Plots supply zones in red and demand zones in green
4. Displays the current price for easy reference

## Customization Options:
- Lookback Period: Adjust the historical data range (1-100 bars)
- Zone Strength Multiplier: Fine-tune the sensitivity of zone detection (1.0-3.0)
- Zone Opacity: Set the transparency of plotted zones (10-100%)

This indicator is designed to help traders identify potential areas of support and resistance, allowing for more informed entry and exit decisions in their trading strategies.