Demand and Supply Zones Intraday Strategy(SAMARESH PANDA)

Explanation:
Input Parameters:

length: Determines the number of bars to look back for identifying the highest and lowest prices to mark demand and supply zones.
zoneBuffer: A buffer in pips to place the stop and limit orders near the identified demand and supply zones.
Demand and Supply Zones:

The script identifies demand zones as the lowest low over the past length bars and supply zones as the highest high over the same period.
Buy (Long) Condition:

A buy signal is generated when the price crosses above the demand zone from below and the price closes above the demand zone.
Sell (Short) Condition:

A sell signal is generated when the price crosses below the supply zone from above and the price closes below the supply zone.
Stop and Limit Orders:

For long trades, the stop is placed just below the demand zone (zoneBuffer), and the limit is placed just above the demand zone.
For short trades, the stop is placed just above the supply zone (zoneBuffer), and the limit is placed just below the supply zone.
Exit Conditions:

The long position is closed when the price moves above the supply zone.
The short position is closed when the price moves below the demand zone.
Additional Notes:
Customization: You can modify the length and zoneBuffer values to adjust how sensitive the strategy is to price action and the zone buffers.
Risk Management: You may want to add additional filters for volume, indicators like RSI/MACD, or other market conditions to filter out false signals.
Testing & Optimization: As with any strategy, it's important to backtest and optimize it according to your preferred market conditions and risk tolerance.
Using the Strategy:
Apply the script to a 1-hour or 30-minute chart for identifying the demand and supply zones.
For better precision in entry, you can switch to a lower timeframe (like 5-minute or 15-minute) to execute your trades more accurately when the price reaches a demand or supply zone.
The buy and sell signals will appear on the chart as green (BUY) and red (SELL) labels.
Example of Execution:
Long Entry: The price closes above the demand zone and crosses up. A long position is opened with a stop below the demand zone and a limit near it.
Short Entry: The price closes below the supply zone and crosses down. A short position is opened with a stop above the supply zone and a limit near it.
This strategy works best in trending markets where price tends to respect these zones. Make sure to monitor the strategy closely and adjust it based on market volatility or changes in the broader trend.


You said:
create a pine script pivot point standard for buy sell
ChatGPT said:
ChatGPT
Sure! Below is a Pine Script that implements the Pivot Point Standard for intraday trading, with buy and sell signals based on the pivot point strategy.

Pivot points are calculated based on the previous day’s high, low, and close prices, and they are widely used in intraday trading to determine potential support and resistance levels.