ZigZag SupDem (supply and demand zones)

v10.3
ZigZag SupDem (supply and demand zones)

The ZigZag SupDem Zones Indicator detects support and resistance (supply and demand) zones using peaks and troughs formed by the ZigZag.
Depending on the timeframe used, it is necessary to set the necessary percentage to form a new peak or trough, by default that is set to 3%, ideal for most instruments on a unit of daily time.

The detection will be done only on the last periods set by the variable “lookback”.
The detection is validated if the indicator finds at least “minPoints” troughs or peaks not more distant than at most “threshold” in percentage.

  • percent = 3 (percentage change of ZigZag to get new peaks and troughs, new swings)
  • lookback = 200 (the period to search for supports and resistances)
  • threshold = 1 (percentage to validate another zigzag from the one previously found to validate a support or a resistance)
  • minPoint = 2 (at least it takes 2 swings of the same type, located one another less than “threshold” percent to validate a support or resistance)

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Makabro • 03/13/2019 #

    Hola Nicolas,tengo un problema cuando importo el .itf pone que esta instalado correctamente,pero cuando lo añado ,se añade debajo del precio en una ventana nueva,como si fuese un rsi o un macd…me salen las velas de frenada y compra, pero me salen por abajo no en el mismo precio…como podrĂ­a arreglarlo ?
    Felicidades por el trabajo realizado.

  2. Nacho Bosquet • 03/13/2019 #

    Hola Nicolas,…. ÂżTienes disponible algĂşn screener para ondas de wolfe? Haces un trabajo increĂ­ble!!!! Gracias!!!

  3. pedrohcarvalho@yahoo.com.br • 03/13/2019 #

    Hola Nicolas, por si acaso tienes el cĂłdigo de la funccion ‘ ZIgZAG’ ? O… sabrias como desarrollar solamente esta funccion? Muchas Gracias!!!

    • Nicolas • 03/13/2019 #

      Esta funciĂłn es interna y no puede reproducirse con el mismo comportamiento por cĂłdigo (repita en tiempo real la Ăşltima parte superior o inferior).
      Los indicadores de fractales también son un buen enfoque para encontrar las partes superiores e inferiores, hay muchos indicadores basados en ellos en la biblioteca.

  4. MrMUCKIE • 03/13/2019 #

    Would there be a way to derive these support/resistance figures for automatic trading?

    • Nicolas • 03/13/2019 #

      That’s not possible because the code uses ZigZag instruction from the platform which is not reliable for automatic trading (and not allowed by the system).

  5. MrMUCKIE • 03/13/2019 #

    Thanks Nicolas. Do you have any idea of how I could generate support/resistance figures for automatic trading?

    • Nicolas • 03/13/2019 #

      Try fractals, swing high/low points, donchian channel, ..

  6. IV Mcm • 40 days ago #

    Thank you for this indicator Nicolas, very useful for Range detection.

  7. MrMagic • 15 days ago #

    Hi @Nicolas , I tried importing the ITF files and even directly copying the above indicator into my PRT and it came up blank both times. Is there something I’m missing?

    • Nicolas • 15 days ago #

      Try to modify the settings? The percentage of zigzag might be too large?

    • MrMagic • 2 hours ago #

      Sorry for the late response. I gave up using it. Tried modifying the settings but it still came up at the bottom of the chart blank. It’s also comes up different from the photo above where it creates a different space for the indicator rather than show on the price as above.

    • Nicolas • 1 hour ago #

      If you add it on the price chart (by using the wrench on the left upper side of the price chart), then it should comes up on the main chart 🙂

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