Supply and Demand Zones V4: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

Settings set how many bars back removal of invalidated zones begins, how much history is kept after invalidation, and a tolerance margin. A long term mode keeps more zones. Algorithm modes range from looser to strict engulfing, and break, retest and choppy zones have their own cap. It highlights areas only and has no trade rules.

Zones from engulfing candle patterns
Removal of invalidated zones after a set delay
Long term mode for more zones
Several algorithm modes

Details

Published by

mikeyhu70 on GitHub

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

Supply and Demand/Supply and Demand Zones V4f (stable).txt

Repository

github.com/mikeyhu70/Tradingview. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Auto Max # of Engulfing (Futures and Extended Hours Instrument)?	`string`	`Auto`	`mode_auto_engulfing`
Algo Mode? (III = I & II, IV = Strict Engulfing)	`string`	`I`	`mode_algo`
Theshold of Mode II for Big vs Small Candle	`float`	`1.25`	`mode_algo2_threshold`
Max Bar Back	`int`	`450`	`maxBarsBack`
How many bar back to start removal of invalid zone (invalidation)	`int`	`8`	`_invalidation`
History Zone to Keep from invalidation	`int`	`5`	`zonehist`
Zone toterance (margin if error)	`int`	`5`	`tolerance`
Max # of Zone	`int`	`25`	`_maxNumberOfEngulfings`
Max # of Zone (breakretest/choppy)	`int`	`50`	`maxNumberOfEngulfings2`
Long Term Mode (more zone)	`bool`	`false`	`mode_lt`
Long Term Percent Increase Zone	`int`	`50`	`mode_lt_pct`
Long Term Percent Increase Invalidation	`int`	`150`	`mode_invalidation_pct`

Show all 40 settings

Setting	Type	Default	Variable
Flip Fill Color	`bool`	`false`	`flipcolor`
Flip Fill Neutral Color	`bool`	`true`	`flipneutralcolor`
Bullish Fill (A)	`color`	`#004d40`	`bullFillcolor`
Bullish Fill (B)	`color`	`#166356`	`bullFillcolor2`
Bearish Fill (A)	`color`	`#a86161`	`bearFillcolor`
Bearish Fill (B)	`color`	`#be7777`	`bearFillcolor2`
Bearish Box	`color`	`color.red`	`bearboxcolor`
Bullish Box	`color`	`color.green`	`bullboxcolor`
Break/Retest/Choppy Bull Fill	`color`	`#7DF9FF`	`neutralbullFillcolor`
Break/Retest/Choppy Bear Fill	`color`	`#FC74FD`	`neutralbearFillcolor`
Neutral Box (with retest/choppy)	`color`	`color.olive`	`neutralbullboxcolor`
Neutral Box (with retest/choppy)	`color`	`color.gray`	`neutralbearboxcolor`
Fill Transparency (A)	`int`	`60`	`filltransp`
Fill Transparency (B)	`int`	`40`	`filltranspa`
Fill Transparency (break/retest/choppy) (A)	`int`	`75`	`filltransp2`
Fill Transparency (break/retest/choppy) (B)	`int`	`90`	`filltransp2a`
Box Transparency	`int`	`80`	`boxtransp`
Box Transparency (break/etest/choppy)	`int`	`80`	`boxtransp2`
Line Width	`int`	`1`	`linewidth`
Line Width (break/retest/choppy)	`int`	`1`	`linewidth2`
S/D Candle Number of bar back to search (Zone Display)	`int`	`1`	`loopback`
S/D Candle Number of bar back to search (Bar Paint)	`int`	`1`	`loopback2`
S/D Candle ratio of Body vs Candle to consider	`float`	`0.25`	`rbody`
S/D Candle ratio of Body vs Candle (for reversal bar)	`float`	`0.60`	`rbody2`
S/D Candle threshold to draw zone	`float`	`0.30`	`rbody3`
S/D candle with pinbar mode? (close at top or bottom)	`bool`	`false`	`mode_pinbar`
Demand Bar Candle	`color`	`color.yellow`	`demandbarcandle`
Supply Bar Candle	`color`	`color.fuchsia`	`supplybarcandle`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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