simwai

MTF OB Supply Demand Zones

simwai Diupdate   
Hello everyone,

This exceptional indicator provides you with visual representations of bullish and bearish order blocks or supply and demand zones across multiple timeframes. In simple terms, bullish order blocks are represented by a small red candle followed by a large red candle, while bearish order blocks are depicted as a small green candle followed by a large red candle. Supply and demand zones are drawn by using order blocks.

Features:
  • Display order blocks from up to three different timeframes.
  • Customize the maximum number of boxes shown and the colors of the zones.
  • Choose from three different modes: OB (Order Block), Extended OB, and Supply/Demand.

Mode Descriptions:
OB: Includes the body of the candle.
Extended OB: Encompasses the body and wick of the candle.
Supply/Demand: Covers the body, wick, and half the body of the large candle.

Usage:
Ensure that charts 2 and 3 are set to a higher timeframe. For modes 2 and 3, it’s recommended to reduce the maximum number of boxes shown. The zones or boxes are transparent, allowing for overlap. This feature aids in identifying reversal zones or confirmed zones. The more intense the color, the stronger the confirmation. If a green zone overlaps a red zone (or vice versa), it signifies a reversal zone.

Thank you for checking out this indicator!

---

Additional Information:
Order blocks refer to specific price areas where large market participants, such as institutional traders, have previously placed significant buy or sell orders. These clusters of orders can impact price movement, liquidity, and market sentiment.

Order blocks are a strategic approach to identifying key levels of support and resistance based on the behavior of institutional traders. These key levels are then utilized as entry or exit points for trades.

An order block is an area where there has been a large concentration of limit orders awaiting execution. These blocks are identified on a chart by observing previous price action and pinpointing areas where the price experienced significant movement or abrupt changes in direction.

Order blocks are used in the following popular trading philosophies:
  • Smart Money Concepts (SMC)
  • Inner Circle Trading (ICT)
  • Price Action

---

Credits to: @AGFXTRADING
Catatan Rilis:
Refactored the code
Catatan Rilis:
Fat major update.
Added 2 normal breakout and 2 false breakout patterns
Added color bouncing (the more bounces on a zone happen, the stronger the color will get!!!)
Changed license
Added adjustable label colors
Updated default values
And the list goes on and on and on
Catatan Rilis:
Updated chart screenshot
Catatan Rilis:
Updated tooltip
Catatan Rilis:
Updated license
Catatan Rilis:
Updated license

Skrip open-source

Dalam semangat TradingView, penulis dari skrip ini telah mempublikasikannya ke sumber-terbuka, maka trader dapat mengerti dan memverifikasinya. Semangat untuk penulis! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart

Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.

Inggin menggunakan skrip ini pada chart?