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Identifying the supply and demand zones of an asset is a very important aspect of trading analysis.
Supply and Demand zones show liquidity and significant levels of buying and selling activity, which could move the markets.
They also serve as potential support and resistance areas, which we know is crucial information to know.
By knowing supply and demand areas, a trader can gain an edge and make better-informed decisions on the best time to potentially buy and sell.
Supply and demand zones can be drawn manually on a chart for an asset, as long as you can figure out where you think these zones may likely to be.
But this approach can be a laborious, time-consuming process and also you might get it wrong!
And if you fail to identify the best supply and demand zones, then you could end up buying and selling at the wrong times!
This is course could result in massive losses!
So, here’s a really nice supply and demand indicator on Trading View that draws in daily automatic supply and demand zones, instantly on a chart.
The indicator is called “The Supply and Demand Daily”, by Lux Algo, one of the leading indicator developers.
You can download it for free on Trading View > Indicators and search for “Supply and Demand Daily”
After you’ve added it, you’ll see supply and demand zones instantly plotted on your charts
Here’s the link to the script :> Supply and Demand Daily