This indicator is inspired on the Smart Money Concepts [LuxAlgo] indicator (Credits to @LuxAlgo) and it was optimized to show only the most relevant demand and supply zones (premium) on every time frame - but on higher time frames (1H and above) the zones are more relevant and stronger, meaning these zones can handle the price for longer time.
I've added a new feature that includes the Liquidity lines in order to add more confluence and importance to a demand or supply zone: when a demand or supply zone has strong liquidity (like weekly or monthly) next to it means that zone can be a strongest price target.
Main Features: - Displays the most relevant demand and supply zones (green and red boxes) and which ones are strong and weak - Displays the relevant change of character and break of structure - Displays the previous day highest price and previous day lowest price - Display imbalances between sell and buy orders (purple boxes) - Displays the liquidity areas with lines on each point. - It works for Forex and Cryptocurrency as well.
Portuguese:
Este indicador é inspirado no Smart Money Concepts (Créditos para @LuxAlgo) e foi otimizado para mostrar apenas as zonas de procura e oferta mais relevantes em cada time frame - mas em time frames maiores as zonas são mais relevantes e mais fortes.
Adicionei uma nova funcionalidade que inclui as linhas de Liquidez de forma a adicionar mais confluência e importância a uma zona de procura ou oferta: quando uma zona de procura ou oferta tem forte liquidez (como semanal/linha amarela ou mensal/linha roxa) junto a ela significa que aquela zona pode ser um alvo de preço mais forte.
- Linha Azul: Liquidez diária - Linha Amarela: Liquidez Semanal - Linha Roxa: Liquidez Mensal
Principais características: - Exibe as zonas de procura e oferta mais relevantes (zonas a verde e zonas a vermelho) e quais delas são fortes e fracas - Exibe a mudança relevante de caráter e quebra de estrutura - Exibe o preço mais alto do dia anterior e o preço mais baixo do dia anterior - Exibe as imbalances entre as ordens de venda e compra (zonas a roxo) - Exibe as zonas de maior liquidez através de linhas no gráfico - Funciona tanto para Forex como para Criptomoedas
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- Added the functionality to display the labels on the chart in English as well (besides Portuguese) - Added the functionality to change the color of previous day prices
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In this version I've added some customizations, such as:
- The ability to choose the color of demand and supply zones - The option to hide the demand and supply zones, for those that prefer to keep the imbalances on the chart only. - The option to show the internal structure changes.
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Updated Version with new customizations available on the Settings.
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Bug fixing from the last customizations update. Now all the demand and supply zones are being hidden correctly.