Description
The REA_S&DZones indicator allows you to view the Supply zones and the Demand zones.
Supply and demand zones are specific areas on price charts where an imbalance between supply and demand occurs, influencing market behavior. These areas are often used by technical operators to identify potential points of trend reversal or continuity.
- Offer Area (Supply): A supply zone represents a level where supply exceeds demand, causing a potential downward reversal in prices. This zone can indicate a point where many sellers are willing to sell, pushing prices lower.
- Demand Area (Demand): In contrast, a demand zone is a level where demand exceeds supply, indicating a potential upward reversal point in prices. In this area, many buyers are willing to buy, pushing prices higher.
Functionality
- Colored supply or demand box
- Customizable box, with the choice of including or not the body of the candle that creates our area.
Parameters
- Depth: Number of candles needed to confirm our zone.
- Includes Bodysuit: Select yes if you want to include the body of the reference candle, or select no to include only the Spike.
- High Color: Choose the color you prefer for all Demand zones.
- Low Color: Choose the color you prefer for all areas of Supply.
- Opacity: Choose the percentage of opacity of six boxes drawn in the Chart.