Demand and Supply zone Screener

2024년 11월 25일

Demand and Supply Zone Screener:

This screener scans up to 40 stocks for demand and Supply zones simultaneously and displays the results of stocks that are currently in demand or supply zone of the selected timeframe in a table. The screener automatically identifies key price areas where buying or selling pressure has historically caused price reversals or significant movement and displays them in a table. It recognises zones based on four distinct types:

• Drop-Base-Rally
• Rally-Base-Rally
• Rally-Base-Drop
• Drop-Base-Drop

The screener enhances the accuracy of the zones by identifying momentum candles. These candles signify strong market activity and help confirm the validity of demand and supply zones. To qualify as a momentum candle, the following conditions must be met:

The price must close higher (bullish) for Demand Zone or lower (bearish) than it opened for supply zone.
Body-to-Range Ratio: The body of the candle must constitute a substantial portion of its total range, indicating a strong directional movement in the candle.
Strength Threshold: The total range of the candle (from high to low) must exceed a certain threshold (sensitivity/Legout Multiplier) and can be defined by the user, indicating that the price moved significantly in one direction. Higher the threshold, more powerful the zone is
Highest Volume: The candle must have the highest volume within the defined lookback period ensuring that the candle is backed by strong market participation.

• Length of SMA for Volume: The indicator calculates the Simple Moving Average (SMA) of the volume over a user-defined period (default 20 EMA). This gives a baseline average volume.
  
• Volume Multiplier for High Volume Detection: The multiplier (default 2) is applied to the moving average volume to detect when current volume significantly exceeds that average, signaling strong market participation.
  
  
• Identifying the Highest Volume in a Period: The indicator also tracks the highest volume over a user-defined lookback period (default 20). This helps in identifying the most significant volume candle within this timeframe.
  (All the above can be customized in the Settings section)
  

Results Table:
The Screener displays the result in the below format


Demand Zone:
Top (Start): Highest body of the base candles—close of a green base candle/open of a red base candle.
Bottom(end): Lowest low of all the base candles in the zone.
Supply Zone:
Top (End): Highest high of all the base candles in the zone.
Bottom(Start): Lowest body of the base candles—open of a green base candle/close of a red base candle.

Key Features of the Screener:
Zone Sensitivity and Strength:
The screener allows adjustable settings for leg-out , ensuring traders can fine-tune the strength of the price movement out of the zone.
Volume-Backed Zone Detection:
By tracking the highest volume candle over a user-defined period, the screener ensures that zones with strong market participation are highlighted, enhancing trade reliability.
Multi-Timeframe Analysis:
The screener supports any timeframe, enabling traders to analyze lower ( 15 min,1hr) to powerful higher-timeframe zones (e.g., 4-hour, daily, monthly) across intraday or long-term strategies. We basically have to select the time frame and the screener displays the result of that particular timeframe of all the stock in either of the zone.
Capturing Every Opportunity:
This screener is built to give an edge by capturing every potential trade opportunity as it highlights stocks when any part of the candle—whether the low for a demand zone or the high for a supply zone—intersects with the zone .This means even if the current price isn’t fully in the zone, it will still display as the stock is in the zone. By detecting these critical touches, the screener ensures you stay ahead of potential reversals or breakouts, enabling to react quickly and take advantage of prime setups before they fully unfold. This feature maximizes the chances of capturing early opportunities and is one of the important aspect of this screener.

In the above example , observe shriramfin . Even if the current price is not in the Zone but high of the candle is in the Zone, its getting displayed on the table.

Customization Options:
Traders can customize the color, background, and border of the display table in settings.
Real-Time Updates:
The screener dynamically updates as new price data comes in, keeping traders informed with the latest zone formations and ensuring timely trading insights.
Alerts & Notifications:
Set custom alerts when price of a stock in the screener enters to a demand or supply zone, ensuring traders don’t miss critical opportunities. Alerts can be placed based on timeframes and if any stock selected (out of 40) enters into demand or supply zone, the alert will be triggered. Basically one alert for one timeframe for all the 40 stocks.

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The screener provides traders with real-time, actionable insights across multiple stocks and markets. Whether you're trading stocks, indices, forex, or commodities, this tool delivers reliable demand and supply zone detection backed by price action and volume analysis. Suitable for both intraday and swing traders, it offers a complete solution for identifying potential market turning points across all timeframes.

2024년 12월 21일

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