PROTECTED SOURCE SCRIPT
X Wave Detector
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This indicator is designed mainly for day traders who want to use Supply and Demand, but it is good for swing traders too.
X Wave Detector indicator script detects Short Term supply and demand zones. These zones do offer great insight into the structure of any market. If you understand and know how to trade with support and resistance zones, then you might find supply and demand zones very similar.
A list of all the features is provided below.
1. Customize Basing Color
2. Strength of the zone.
3. Number of candles in basing from 1 to 4
4. Color customization for Supply Demand Zone Labels
5. Hide Zone Labels
6. Hide Supply and Demand candles
This indicator/script focuses on strong volume moves to the upside and downside. When price makes a decent move with volume, the indicator will create a supply or demand zone (the candlestick is painted).
How to trade with it:
1. Focus on a price level (zone)
It’s difficult to analyze the market without key levels. If you look for turning points at every key level, you will only find confusion.
How do you know which price level to focus on? Which price levels are potential market turning points?
2. When the market tests a potential demand area, look out for:
Bullish price pattern
Clear trend
Increased volume
Congestion
When the market tests a potential supply area, look out for:
Bearish price pattern
Clear trend
Increased volume
Congestion
Happy Trading and Stay Awesome!
Use it at your own risk. I cannot be held liable for any damages financial or otherwise, directly or indirectly related to using this script.
X Wave Detector indicator script detects Short Term supply and demand zones. These zones do offer great insight into the structure of any market. If you understand and know how to trade with support and resistance zones, then you might find supply and demand zones very similar.
A list of all the features is provided below.
1. Customize Basing Color
2. Strength of the zone.
3. Number of candles in basing from 1 to 4
4. Color customization for Supply Demand Zone Labels
5. Hide Zone Labels
6. Hide Supply and Demand candles
This indicator/script focuses on strong volume moves to the upside and downside. When price makes a decent move with volume, the indicator will create a supply or demand zone (the candlestick is painted).
How to trade with it:
1. Focus on a price level (zone)
It’s difficult to analyze the market without key levels. If you look for turning points at every key level, you will only find confusion.
How do you know which price level to focus on? Which price levels are potential market turning points?
2. When the market tests a potential demand area, look out for:
Bullish price pattern
Clear trend
Increased volume
Congestion
When the market tests a potential supply area, look out for:
Bearish price pattern
Clear trend
Increased volume
Congestion
Happy Trading and Stay Awesome!
Use it at your own risk. I cannot be held liable for any damages financial or otherwise, directly or indirectly related to using this script.
Notes de version
New Update: Long and Short confirmations labels.Notes de version
New Update: This is the free version WITHOUT the Buy and Sell confirmations labels.Notes de version
New Update: This is the Free version WITHOUT the buy and sell confirmations. This will show you zones but it's only on one setting.. The private version allows you to adjust the settings so you can less zones on your chart. Notes de version
New Update: This is the Free version WITHUOT the BUY and SELL signs. This will show you the zones but it's only on one setting.. The private version allows you to adjust the zone settings. Adjusting the settings will allow you to have less or more zones on your chart.
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