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Supply and Demand Visible Range by @LuxAlgo
Today we present you with a novel supply and demand indicator released open source 📈
Thread on how it works & access 👇🧵 /1
tradingview.com/script/UpWXXsb…
Today we present you with a novel supply and demand indicator released open source 📈
Thread on how it works & access 👇🧵 /1
tradingview.com/script/UpWXXsb…
The script displays supply and demand areas on the user's chart. These are calculated using the chart's visible range data. 📊
This novel volume-based method expands the zones sequentially until a threshold is attained. /2
This novel volume-based method expands the zones sequentially until a threshold is attained. /2
The user can control the width of each area using the Threshold % setting, with a higher setting returning wider areas. 🤝
The width of each area can also indicate which areas are more liquid, with thinner areas indicating more significant liquidity. /3
The width of each area can also indicate which areas are more liquid, with thinner areas indicating more significant liquidity. /3
This indicator also returns various levels. The solid-colored levels display the average of each area, while dashed colored lines display the weighted averages of each area.
These weighted averages can highlight more liquid price levels within the supply/demand areas. /4
These weighted averages can highlight more liquid price levels within the supply/demand areas. /4
You can get access on our TradingView profile below.
Premium indicators access --> LuxAlgo.com
tradingview.com/script/UpWXXsb…
Premium indicators access --> LuxAlgo.com
tradingview.com/script/UpWXXsb…
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