Supply and Demand Zones are areas where there is likely an imbalance between buyers and sellers. These zones are formed when price consolidates into a range (or base), and then quickly breaks out of that range. This TOS indicator automatically identifies these zones and draws them on your chart.
This indicator is extremely customizable. You can change the strength and number of zones shown, the width of the zones, and whether or not to hide zones that have been broken. In addition, you can filter out zones based on whether they are formed as a reversal or continuation of the trend. If you choose to only show reversal zones, it will show rally-base-drop supply zones and drop-base-rally demand zones. If you choose to only show continuation zones, it will show drop-base-drop supply zones and rally-base-rally demand zones. You can also show all types of zones simultaneously.
This indicator has a multi-time frame (MTF) feature that allows you to view supply and demand zones from a higher time frame on a lower time frame chart.
A scanner is included that searches for symbols that are currently inside a zone. There is also a watchlist column that tells you whether price is inside a supply zone or demand zone, so the scan results can be sorted by the type of zone. You can receive audio alerts when price enters one of the zones, as well as when a new zone is formed.
The appearance is fully customizable. You can change the colors of the zones and the lines.
This indicator can be used with stocks, ETFs, futures, and forex on any time frame, including tick and range charts. However, the multi-time frame feature can only be used on time charts.
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