The Supply and Demand Zones Indicator is a technical analysis tool that helps traders identify potential levels of support and resistance in the market.

The indicator is based on the concept of supply and demand, which is a fundamental principle in economics that states that the price of a product or asset is determined by the balance between the supply of that product or asset and the demand for it.

Can be used to identify levels at which the supply and demand of an asset are imbalanced, indicating potential levels of support and resistance.

Traders can wait for confirmation of a bounce off the demand/support level, such as a bullish candlestick pattern, before entering a long position with a stop-loss order placed below the support level. The take-profit target can be set at the next potential level of supply/resistance.

Traders can wait for confirmation of a rejection of the supply/resistance level, such as a bearish candlestick pattern or a failure to make a new high, before entering a short position with a stop-loss order placed above the resistance level. The take-profit target can be set at the next potential level of demand/support.

In the input parameters you can select the data series for the supply and demand levels zones such a higher time frame.