INVITE-ONLY SCRIPT

KryptOkib Supply and Demand with Alerts

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As the name suggests, this is a supply and demand indicator script with alerts that i have made based on sole price actions. I have used 3 different methods of identifying supply and demand zones and tested to make sure they work. Nonetheless some zones will fail as no strategy is 100% and some zone will fail due to other reasons.

How this works:
As a basic rule, demand and supply zones can easily be identified from the base of a drop to a rally or vice versa and the base of a rally to a new rally, hence rally base rally, drop base rally for demand zones and rally base drop and drop base drop for supply zones.

While that is true, i basically search for areas where demand/bulls overpower supply/bears and vice versa with a strong move away. So not all the base are a consideration in this script unless we see a clear sign of bulls overpowering bears, or say demand overpowering supply and bears overpowering bulls or say supply overpowering demand. Several rules has been put in place to identify and filter this out so you may have a Rally Base Drop get ignored by this indicator as it do not meet my requirement.

Once this pattern is detected by the script using either of the 3 price action methods, and then a breakout of the basing candles occurs, the indicator paints the candlestick that broke out of the range/base with a different color, which is blue for demand breakout candle, and orange for a supply breakdown candle as circled on the chart.

The algorithm makes sure that this breakout candles follow strict rules set by mean of which 1 is a very bullishly closing breakout candle for demand or a very bearishly closing candle for a supply, with a follow through candle which is the next trading period /candle.

it is strongly recommended that you wait for the close of the next candlestick before attempting to take the demand/supply zone formed as there are further calculations done on the follow through breakout candle to make sure the demand/supply is a good one, the candle might be painted before the close of the next candle but after the close, the paint will be removed due to the fact that the zone no longer meets strict criteria as defined by me.

It is also suggested that you use the alert function that comes with script and wait for the alert to come through before taking the demand if you cannot wait for the second breakout candle to close as the alert will be fired only on close of the second follow through breakout candle.

One of the strict rules is wanting to see strong bullish/bearish presence apart from the way the breakout candle closes, there are many rules to filter out ugly zones, even though some good zones get caught up in this as well.

Identification of Zones:

Demand Zone: the previous candle open or high(based on personal preference) will be the proximal, where you start to draw your demand zone and the low of the basing/ranging candles or swing low will be the distal, where you end your demand zone as seen on the chart. Stop loss goes under this.

Supply Zone: The previous candle open or low will be the proximal, where the supply zone starts and the high of the range/basing candles or swing will be the distal where the supply zone ends as seen on the chart. Stop loss goes above this

Note that some zones with a-lot of basing candles tend to fail, while some tend to work, i have not algorithmically filtered this as i prefer to examine with eyes the zones alerted to me and take the ones with lesser basing candles.

Generally, Rally Base Rally and Drop Base Drop zones are mostly weaker than the other type of zones but sometimes works perfectly.

How to use Alert Function:

- Go on the ticker you will like to set alert for
- Go on the timeframe you wish to be alerted for
- Right Click on the chart and select Add Alert or Alt + A (keyboard combination)
- Under Condition, click the arrow down and select "KryptOkib SAND"
- Under Options, select "Once Per Bar Close"
- Set Expiration and Alert Actions as you prefer.
- Click on "Create" Button
That is it.

You can repeat this process for all other tickers you wish to have alerts for and you will be notified once price movement has met the conditions outlined in the script.

This is an invite only indicator, to request access to it, kindly do the following:
- Add indicator to favorite
- Make Sure you follow me
- Send me a PM requesting access.

Once this is done and PM received, access will be granted.

Further updates will come along once there are changes to be made or new calculations to add.

Works on any market of choice.
Информация о релизе
UPDATE 1.

I have updated the way demand and supply zones are obtained in the indicator using the first criteria. There are 3 different criteria i used in determining areas of supply and demand, the first one has been updated to remove some identified zones which break often than it holds.

Further studies revealed a better way to filter out those zones that break more and with this update, such zones will not be printed anymore.

Further updates will come along as soon as i notice better working zones than commonly broken zones, even though all zones cannot be 100% as it is not possible due to changing market conditions

I will try my best to make sure we have the best zone indicator and take only the high probability ones.

KryptOkib
Candlestick Analysisdemandandsupplyzonesdemand-zoneDemand Zonesupply_and_demandsupplydemandtradingSupply ZoneSupport and Resistance

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Инструкции от автора

This is an invite only indicator, to request access to it, kindly do the following: - Add indicator to favorite - Make Sure you follow me - Send me a PM requesting access. Once this is done and PM received, access will be granted.

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