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The Zone Seeker – Indicator
The Zone Seeker is built upon the reliable and widely accepted Supply & Demand Methodology. By enabling this indicator, you’ll be able to see all the zones marked on your chart with ease.
Customize the settings to your liking, and choose which zones to display, ensuring that you only see what’s most relevant to your analysis. With the Zone Seeker, you’ll have a powerful tool to enhance your trading strategy.
Once all the criteria have been met, the indicator will seamlessly integrate the zones into your chart. The color coding will help you quickly identify whether a zone has already been tested, and if the zone has failed or been broken, it will switch to the opposite zone for your analysis.
Evaluating the Zones
When testing the zones, we only consider instances where the price enters or touches the zone and then leaves it, closing outside the zone. You have the option to turn on or off the “touched” feature in the settings, depending on your preference.
The code is designed to keep track of the testing phases rather than individual candles. For example, if the price enters a demand zone, stays within the zone for two candles, and then closes above the demand zone on the third candle, this will be counted as one testing phase.
To ensure that the zones remain relevant and up-to-date, each testing phase will change the color of the zone. After the third testing phase, the zone will automatically be removed. This helps you to stay on top of the latest developments and make informed decisions.
Multiple Time Frames
With the option to select an additional time frame on top of your current trading time frame, you have the flexibility to work with multiple perspectives. The code separates the time frames so you can choose the number of zones to display in each one.
The supplementary time frame zones will be displayed in three distinctive shades of gray, making it easy to differentiate between them. Additionally, any overlapping zones will be accompanied by an informational box to avoid any confusion or clutter.
And for even greater convenience, you also have the option to display all time frames at once, providing a comprehensive overview of your analysis.
It’s important to keep in mind that indicators are designed to provide support and assistance while trading, but they are not a guarantee of success. No indicator or trading strategy has a perfect success rate, so it’s essential to approach your analysis with caution and to use a well-rounded approach that takes into account a variety of factors.