Price Action - Level/Zone (Expo) indicator identifies buying and selling pressure that has an impact on the price movement. This is visualized by a Zone, or Levels or with Barcolors depending on which settings are used.
Depending on the selected settings the indicator can identify buying and selling pressure which pushes the price further in the trend direction and it can show exhausted buyers/sellers which is seen in reversal points.
HOW TO USE
1. Use the indicator to identify buying and selling pressure. 2. Use the indicator to identify exhausted buyers and sellers. 3. Use the indicator to identify reversal points, pullbacks, or trend shifts. 4. Use the indicator to buy/short-sell breakouts of the zones. 5. Use the indicator to buy/short-sell when the price re-test the zones.
-> Try the indicator on Heikin Ashi Candles, but it works as good at any type of candlestick, bars, Renko, or line break.
INDICATOR IN ACTION
4 hour chart
4 hour chart
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
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Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
One of the most useful indicator I've seen so far, very impressed !! The zones works perfectly as Support and Resistance during intra-day. Easier to know the breakout points. Great work friend !!