Demand & Supply Zone Scoring: Rally Base & Drop Concept

21 maj 2023

Demand & Supply Zone Scoring Indicator

The Demand & Supply Zone Scoring indicator is designed to calculate the Trade Strength Score based on the concepts of demand and supply zones, specifically RBR (Rally Base Rally), RBD (Rally Base Drop), DBD (Drop Base Drop), and DBR (Drop Base Rally).
The Demand & Supply Zone Scoring indicator is specifically designed to facilitate a top-down approach with multiple timeframe analysis. It considers the higher timeframe (HTF) for curve analysis, intermediate timeframes (ITF) for trend analysis, and lower timeframes (LTF) for zone-specific analysis.

The indicator provides a table displayed on the chart, offering valuable information for analysis. Let's go through each row of the table:
1. Location:
This row represents the analysis of the curve on the higher time frame (HTF) to identify key levels. It determines whether the price is in a retail area (high on the curve) or a wholesale area (low on the curve). Trading within the wholesale area is considered a strong sign.

2. Trend:
This row focuses on the intermediate time frame (ITF) trend. It indicates whether the trend is upward or downward. If the ITF trend is up and you intend to buy, it suggests a strong point.

3. Achievement:
This row analyzes the achievement of the zone on the lower time frame (LTF). It considers whether the leg-out candle or follow-through candles of the zone have broken any opposite side zone or pivot level. A breakout in the opposite direction is seen as an excellent point.

4. Strength:
This row assesses the strength of the zone on the lower time frame (LTF) where the trade is planned. It looks at the strength of the leg-out candle, such as whether it's a gap candle, an exciting candle, or a candle with follow-through. A strong leg-out candle indicates an excellent point.

5. Time:
This row evaluates the time spent by base candles inside the zone on the lower time frame (LTF). It considers the number of base candles and the duration spent in the zone. Typically, 1 to 3 base candles are seen as strong, while more than 6 base candles receive 0 points.

6. Reward-to-Risk Ratio (RR):
This row focuses on the Risk-to-Reward (RR) ratio of the zone on the lower time frame (LTF) where the trade is planned. It compares the potential reward to the risk. A higher RR ratio, such as 1:3 or greater, is considered excellent.

7. Freshness:
This row analyzes the freshness of the zone on the lower time frame (LTF). It indicates whether the zone is new or has been tested multiple times. A fresh zone or one that has been tested only once is preferable.

Furthermore, it's important to mention that you have the flexibility to customize the text for each parameter according to your specific requirements. The table is designed to be fully customizable, allowing you to adapt the wording to your preferences and trading strategy.

This customization feature ensures that the indicator aligns with your personal trading approach and makes it easier for you to interpret and analyze the information provided in the table.

Additionally, please note that only the total score is displayed in the table on the chart by default. This is to avoid any visibility issues caused by displaying all the parameters. However, if you wish to see all the parameters in the table on the chart, you can easily enable them through the settings.

By enabling the parameters, you will have a comprehensive view of each factor's contribution to the Trade Strength Score directly on the chart.

By utilizing this indicator, calculating the Trade Strength Score becomes easier, providing a comprehensive analysis of various factors that influence trading decisions.

This indicator is developed by Afnan Tajuddin to assist fellow traders in conducting a top-down approach in an effective and efficient manner.

For more educational articles and trade setup ideas, feel free to follow me on TradingView and join me on the journey towards financial freedom through trading.

7 paź 2023

Informacje o Wersji

Update 8 introduces enhanced analysis tools with the addition of the Rapid Moving Average and Bollinger Bands. Elevate your trading strategy with these powerful new features.

7 paź 2023

Informacje o Wersji

Minor Bug Fixed

14 gru 2023

Informacje o Wersji

Zone Limitation by Time Frames:
📆 Now, you have the power to limit the number of zones displayed based on time frames.
🕰️ Customize the display of zones for each time frame. For example, set it to display 7 days of zones for hourly time frames.
⚙️ Adjust settings according to your requirements for more flexibility in analyzing recent unfilled orders.

Enhancements:
🔍 Detection of base and leg candles has been fine-tuned for greater accuracy.
🔄 Detection of follow-through improved.
📈 Zones will now be plotted immediately upon follow-through or breakout of the opposite zone or pivot.

Note: Zone Limitation by Time Frames is not enabled by default; you can set it as the default from the settings of the indicator.

I'm confident that these changes will elevate your trading experience. As always, your feedback is invaluable! 🌐

14 gru 2023

Informacje o Wersji

bug Fixed