Demand and Supply Light by BULL|NET

THE B|N DASL (Demand and Supply Light by BULL | NET)

Indicator helps traders identify demand and supply lines. Breakouts are detected, and potential targets are calculated. Additionally, channels are automatically detected.

⚠️ Disclaimer – Please Read Before Using ⚠️

Features

Supply Line Options

These settings control how the Supply Line is calculated and displayed on the chart. Only one Supply Line will be shown.
• Supply Line: By default, one Supply Line is active. It can be enabled or disabled.
• Confirm: When enabled, the Supply Line will only be shown once confirmed by the price.
• Level: Define pivot points for the level. The default value is 15.
• Color, Style, Width: These settings allow you to customize the appearance of the Supply Line.

Demand Line Options]

These settings control how the Demand Line is calculated and displayed on the chart. Only one Demand Line will be shown.
• Demand Line: By default, one Demand Line is active.
• Confirm: When enabled, the Demand Line will only be shown once confirmed by the price.
• Level: A level between 1 and 100 can be chosen, with the default value being 15.
• Color, Style, Width: These settings allow you to adjust the appearance of the Demand Line.

Level Label Options

When a new Demand or Supply Line is drawn, a small label appears at the x2 coordinate of the line. The label shows the height of the extreme point and the direction (up or down) along with the line type (D = Demand, S = Supply) and the selected pivot level.

Breakout Label Options

• Show in Timeframe: Breakout labels are shown by default in timeframes above 30 minutes. In shorter timeframes, pivot points can change rapidly, causing the labels to cover the bars.
• Breakout: The breakout label contains the breakout price, direction, pivot level, and breakout attempts. After a breakout, the color of the Supply and Demand Lines will change to reflect the new state of the line.
• Target: A label that displays the target price, which is linked to the breakout point on the Supply or Demand Line.

Additional Options

• Burned Line: Supply and Demand lines remain active until new pivot points create a new line of the same level. After the 4th breakout, the line is marked as "burned" and will no longer be monitored for further breakouts.
• Spread: This feature allows you to account for your broker's spread in the target calculation to avoid discrepancies.


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Disclaimer BullNet:
The information provided in this document is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Any use of the content is at your own risk. No liability is assumed for any losses or damages resulting from reliance on this information. Trading financial instruments involves significant risks, including the potential loss of all invested capital. There is no guarantee of profits or specific outcomes. Please conduct your own research and consult a professional financial advisor if needed.

Disclaimer TradingView:
According to the house rules of TradingView.

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Version 1.0 17.03.2025