Pro Supply and Demand
1. This script find four patterns , RALLY-BASE-RALLY ( RBR ) , DROP-BASE-DROP ( DBD ) , RALLY-BASE-DROP ( RBD ) and DROP-BASE-RALLY ( DBR ).
2. Above pattern create maximum 4 base candle and leg out candle size is double than the base candle zone.
3. For supply zones, if supply pattern has one base candle then we use distal line above base candle high and proximal line below base candle low with buffer and if there is 2 to 4 base candle then we use body’s low for proximal line and highest base candle high for distal line with buffer.
4. For demand zones, if demand pattern has one base candle then we use proximal line above base candle high and distal line below base candle low with buffer and if there is 2 to 4 base candle then we use body’s high for proximal line and lowest base candle low for distal line with buffer.
5. In this script Risk management and Money management is automatic calculated.
6. In this script Supply and Demand zone quality calculated in the scoring.
7. In Scoring system we used five element –
a. After base candle move and Leg out candle
b. Before base candle move and Leg in candle
c. Gap
d. Volume
e. Base candle count
8. This indicator work’s in all Timeframes, Stock Market, Forex Market and Future Market.
9.no repaint