OPEN-SOURCE SCRIPT

Supply and Demand Zones with Enhanced Signals

アップデート済
This Pine Script indicator combines supply and demand zone analysis with dynamic buy/sell signals to enhance trading strategies. It provides a robust framework for identifying optimal trading opportunities and managing existing trades.

Key Features:

Supply and Demand Zones: The indicator identifies significant supply and demand zones based on recent price action. These zones are plotted as horizontal lines to help traders visualize potential reversal points.

Exponential Moving Average (EMA): A 21-period EMA is used to determine the prevailing trend and generate buy and sell signals.

Relative Strength Index (RSI): The 14-period RSI is utilized to filter buy and sell signals, providing additional context on overbought and oversold conditions.

Signal Generation:

Buy Signal: Triggered when the price crosses above the EMA and RSI indicates that the market is not overbought.
Sell Signal: Triggered when the price crosses below the EMA and RSI indicates that the market is not oversold.
Enhanced Exit Signals:

Exit Buy Signal: Generated if an opposite sell signal occurs or the higher timeframe RSI indicates overbought conditions.
Exit Sell Signal: Generated if an opposite buy signal occurs or the higher timeframe RSI indicates oversold conditions.
Trade Management:

Tracks active trades and provides exit signals based on the occurrence of opposite trading signals. This helps in managing positions more effectively and reducing potential losses.
Usage:

Supply and Demand Zones: Look for price action around these zones to identify potential trading opportunities.
EMA and RSI: Use buy and sell signals in conjunction with EMA and RSI to validate trading decisions.
Higher Timeframe RSI: Utilize this for additional confirmation and exit signals.
Plotting:

Supply Zone: Plotted as a red horizontal line.
Demand Zone: Plotted as a green horizontal line.
EMA: Plotted as a blue line.
Buy and Sell Signals: Indicated by green and red triangle shapes, respectively.
Exit Signals: Indicated by blue and orange X shapes.
This indicator is designed to help traders make informed decisions by combining technical analysis with strategic trade management.
リリースノート
The script combines supply and demand zone analysis with EMA, RSI, and higher timeframe RSI to generate buy and sell signals. It also calculates and plots stop loss levels for each trade, helping manage risk. Signals and stop losses are displayed on the chart with various styles and colors for clear visualization.






リリースノート

This Pine Script indicator identifies supply and demand zones and generates buy/sell signals based on EMA and RSI. It includes take profit and stop loss levels, with additional conditions to reduce false signals by confirming trends and volatility. The script plots these signals and zones on the chart for easy visualization.
Moving Average Convergence / Divergence (MACD)movingaveragecrossoveroverbought-oversoldRelative Strength Index (RSI)rsi_divergenceTrend Analysis

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