Hi Liam, just a brief comment on what I am seeing on this indicator which I have attached for reference to my further comments.
What I find is that I need to refresh or change the TF every hour but what it does in doing so will take out some of the Supply or Demand Zones but only the ones that are recent or small.
The ones that have been in tact for a while seem to remain so I am testing moreso these zones.
If you look at the attached USDJPY chart you will see a number 4 at the top of a Supply so red zone. This is a Semafor Indicator which does repaint but I do use this for a bit of a reference however if the USD candle where to go above this red zone then it would take it out which invalidates this zone altogether.
It would however appear that both the longer red and green zones that have been in tact seem to remain so at the moment I am not sure whether to use these a reference or not.
Your thoughts or questions would be greatly appreciated.
Btw, did you receive the copy of the SupDem indicator I sent you yesterday from the 5’ers.
My Response:
Sure thing, I checked out the 5%’s supdem indicator… looks pretty solid.
Does it come with alerts?
I didn’t have time to verify…
The zones disappearing, though, that’s a curious one?
Sometimes these indicators are just… quirky, haha.
For double-checking zone validity, sefmore could come in handy – it’s been my go-to in the past. The red and green zones that remain untouched? I’d suggest using them. Keep an eye out for those zones which have been nicked though, like a few in your image.
They might not spark significant reversals when the price swings back around.
Expect a minor reaction, but nothing earth-shattering…
So, proceed with a caution there.
Other than that, it looks fine to me.
The remaining zones are good to go; feel free to use them as references.
I can’t spot anything off about them…
Meanwhile, I’ll keep hunting for another S & D indicator.
Haven’t struck gold yet, but fingers crossed!
PAN.