Finding the Best Supply and Demand Indicator for TradingView

TradingView is a popular charting and technical analysis platform used by many active traders and investors. One of the most common trading strategies utilized on TradingView is trading based on supply and demand zones. This strategy aims to identify areas on the chart where there was significant buying or selling pressure, which can act as support and resistance levels in the future.

However, manually identifying supply and demand zones can be tricky and subjective. This is why many traders rely on custom supply and demand indicators for TradingView to automate the process of highlighting these key areas on the chart. But with so many different supply and demand indicators available, how do you know which one is the best for TradingView?

In this blog post, I will evaluate some of the top supply and demand indicators for TradingView and discuss the key factors to consider when selecting the best indicator for your needs.

Key Factors to Consider in a Supply and Demand Indicator

Here are some of the most important criteria to look for when evaluating supply and demand indicators for TradingView:

• Accuracy: The zones highlighted by the indicator should have a high probability of acting as future support and resistance levels. The best indicators utilize sound logic to identify “true” supply and demand imbalances.
• Customizability: You should be able to customize the sensitivity of the indicator and set specific rules for how zones are identified. This allows you to tweak the indicator to suit your trading style.
• Clarity: The indicator should make it very clear on the chart where the supply and demand zones are located. There should be no ambiguity.
• Active development: The indicator should be actively maintained, updated and improved by its developer(s) based on user feedback. Avoid outdated or abandoned indicators.
• Positive user reviews: The indicator should have overwhelmingly positive feedback and reviews from active traders using it. This helps validate the usefulness of the indicator.

Keeping these criteria in mind, let’s take a look at some of the top supply and demand indicators available for TradingView.

Top Supply and Demand Indicators for TradingView

1. Supply and Demand Indicator by LazyBear

One of the most popular supply and demand indicators on TradingView is the LazyBear version. Here are some of its key features:

• Utilizes a reliable algorithm to detect supply and demand zones based on multiple confluence factors.
• Zones are clearly highlighted on the chart for easy visualization.
• Different color schemes allow customization of bullish and bearish zones.
• Settings can be adjusted to scan for zones on higher timeframes.
• Actively maintained by LazyBear with regular updates based on user feedback.

The indicator has received overwhelmingly positive reviews from the TradingView community. Traders highlight its accuracy and customizability as major benefits.

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2. SZ Supply Zone Indicator

This indicator has gained popularity for using a unique approach to identify supply zones based on the behavior of candlestick wicks and bodies.

Key features include:

• Detects supply zones with a high probability of acting as resistance.
• Utilizes patented pending orders trick to identify untested supply areas.
• Customizable settings for zone sensitivity, quality, and age filtering.
• Minimalistic zones that don’t clutter up the chart.
• Maintained by full-time trader SZ.

Users praise the accuracy of the strategically placed zones and the active development of the tool. The pending orders feature gives it an edge over other indicators.

3. Supply and Demand Zones Indicator

This is another well-rated indicator developed by TradingView user MagicPoet. Here are some key details:

• Uses a multi-timeframe scanning process to identify high probability zones.
• Plots rectangular zones rather than basic lines for better visualization.
• Customizable colors, style, and visibility of zones.
• Settings to enable/disable demand and supply zones independently.
• Actively maintained by MagicPoet with regular improvements.

The visual style of highlighted zones and robust multi-timeframe analysis are standout features appreciated by users. It’s one of the most customizable supply and demand indicators on TradingView.

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Evaluating Other Supply and Demand Indicators

In addition to the top indicators mentioned above, there are a few other notable options to consider:

• Supply and Demand Indicator by TradingFuel: Uses fixed anchor candles to detect zones and some unique logic around order blocks. Decent alternative with positive reviews.
• SZ Panther: Alternative supply zone indicator by SZ with an adaptive algorithm and some interesting additional features. Worth checking out.
• Peak Bars Supply and Demand: Uses peak bars rather than candlesticks to plot zones. Interesting concept but has received mixed user feedback.

When evaluating other lesser known supply and demand indicators, be sure to carefully assess their approach, logic, customizability, and user reviews. Avoid any indicators with below average ratings or negative feedback.

Recommendation for the Best Supply and Demand Indicator

While there are many quality options, if I had to choose just one supply and demand indicator to recommend for TradingView, it would be the Supply and Demand Indicator by LazyBear.

Here’s a quick summary of why it stands out as the best overall option:

• Proven accuracy praised by thousands of TradingView users over many years.
• The zone identification algorithm balances reliability and sensitivity very well.
• Customizable settings allow tweaking for your specific trading style.
• Easy to use out of the box for beginners but also caters to advanced traders.
• Actively maintained by LazyBear with regular improvements based on user feedback.
• Positive community sentiment and reputation. LazyBear is a trusted name.

The LazyBear Supply and Demand Indicator strikes the perfect balance between accuracy, customizability, and ease of use. I would highly recommend giving it a try if you are looking for the best supply and demand indicator for TradingView.

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Using Supply and Demand Indicators Effectively

While a quality indicator like LazyBear can automate zone detection, keep in mind that no indicator will be 100% accurate all the time. Here are some tips to use supply and demand indicators effectively:

• Combine zone signals with other confluence factors like price action, moving averages, RSI etc. before taking trades.
• Don’t rely on zones blindly. Analyze the strength of each zone before considering a trade.
• Adjust settings to match your trading timeframe and style. Experiment to find the optimal configuration.
• Periodically backtest the indicator logic and performance to maintain confidence in its edge.
• Understand that zones get weaker with time and retests. Don’t chase zones from months or years back.

Conclusion

Selecting the right supply and demand indicator for TradingView is crucial to simplify the zone identification process for your trading. The LazyBear Supply and Demand Indicator stands out as the best overall choice based on its accuracy, customizability, ease of use, and positive community reputation.

However, no indicator will be perfect. Make sure to combine zone signals with other confluence factors, analyze zone strength, tweak settings, and backtest performance. Proper usage and robust trading rules will help maximize the edge gained from using a quality supply and demand indicator.

The strategies discussed in this post should give you a solid starting point in finding an indicator that fits your trading style. Do your due diligence in assessing user reviews and performance. With the right indicator configured to your needs, trading supply and demand zones on TradingView can become much more objective, effective, and profitable.