Supply and demand indicator coding request

Hi guys, I'm looking for some help to code an important indicator to spot major supply and demand levels on higher timeframes using a Zig Zag indicator as starting point.

Zig Zag indicator used to spot major swings:

The indicator must work like this:

The indicator must use an existing zigzag indicator (attached to this post) to spot major support and resistances. When a new swing is created, a new thin "box" should be created (supply or demand area) starting from the last candle of the swing. Here you have an example:



Few requirements:

1) Box center should be at the high or the low of the relative candle.

(So that if the box width is 20 pips, the box ranges from +10 pips from the high or low of the candle to -10 pips).

2) Box width must be customizable (in pips).

3) Box length should be calculated with this formula:

y * move in % of the swing that created said box

In other words, the box legth (in bars) is calculated multiplying the percentage zigzag swing move with a customizable number of bars.

For example:

We set our y value to 25 bars.

A box originated from a 6% zigzag swing must have a length of: 25 * 6 = 150 bars

A box originated from a 2% zigzag swing must have a length of: 25 * 2 = 50 bars

4) Box must be visible on multiple timeframes. For example, it should be possible to see D1 boxes from lower timeframes.

The final indicator should more or less look like this:



Thanks in advance.

Hello R3TA,

Is this what you are looking for?

If yes you can find it here:

http://www.forexfactory.com/showthre...58#post8592758

4x

i'm not a coder. just done a search. maybe these indicators will do what you want

http://www.forexfactory.com/showthread.php?t=227961


nice high low indi for different timeframes here...

http://forexmt4ea.com/high-low-indicator-mt4/

Thanks for the replies but unfortunately all these indicators have major flaws.

First of all they only draw lines, and I am looking for an indicator to highlight major supply and demand AREAS.

I think this is crucial because a supply and demand zone is never an exact price level but usually a certain price area; an highlighted price area is not only an easier tool to trade with, but it is more practical, because it is more "suited" to how the market behave (market doesn't respect "certain levels" but most of the time react around a small price range).

The second major flaws with these indicators is that they draw infinite length lines, and every new level draw a line so that soon enought the chart fills with lines. This is why boxes representing zone should have a maximum length, so that new boxes are "replaced" with new ones as the trend develop.

Try this one. I use it for a long time.

D.P.

Take a look at this supdem indi that I use some times.
Guess don't have the zigzag but you can add it to chart....

Hope it helps you.

https://www.forexfactory.com/showthr...0#post12685610