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Zones Supply & Demand
The algorithm analyzes price action through volume accumulation, dividing the visible price range (from high to low) into multiple segments or "intervals." ๐ For each interval, it calculates the generated volume and compares it to a predetermined threshold percentage. The goal? To identify levels where volume concentration is so high that it signals a Supply Zone or Demand Zone! ๐ฏ
๐ For the Supply Zone:
- Start from the highest price and move downward through intervals.
- Accumulate volume in each segment.
- When accumulated volume exceeds the threshold, it marks a Supply Zone ๐จ.
- A colored area (rectangle with specific opacity) is plotted from this level to the high, along with horizontal lines showing simple & weighted averages of prices in this zone. ๐๏ธ
๐ For the Demand Zone:
- Start from the lowest price and move upward through intervals.
- Accumulate volume in each segment.
- When accumulated volume crosses the threshold, it defines a Demand Zone ๐จ.
- A corresponding area is drawn, along with average lines to highlight the mean concentration level. ๐๏ธ
โ๏ธ Market Balance:
When both Supply and Demand Zones are identified, the algorithm calculates a Market Balance Point! ๐ This equilibrium is derived from the average (simple or volume-weighted) between the two zones. The result? Clear reference lines on the chart showing the balance between buying and selling pressure! โ๏ธโจ
โ
In Summary:
The "Zones Supply & Demand" indicator uses volume-based price segmentation to detect key areas of order concentration. ๐๏ธ It then generates visual cues (colored zones, average lines, and balance points) to highlight critical levels on the chart, empowering traders to spot supply-demand imbalances and potential turning points! ๐๐ก
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