New supply and demand indicator gave me almost 4 wins out of 5

This site may contain affiliate links from which we may earn commission. This helps us keep this site free and with running costs. Thank you for your support and understanding.

Just been testing this recently released Supply and Demand indicator from Lux Algo.

It’s available on Trading View as a free tool and I must say, the initial results from testing are looking positive.

The indicator automatically displays and adjusts supply and demand zones dynamically as the market moves.

According to the description, it utilises “novel volume method” to determine the levels. In addition, they’ve programmed the indicator to use intra-bar data to increase the accuracy of the supply and demand zones that are printed on the charts.

When you add the indicator to the chart, you’ll see the addition of two bars at the top and bottom, the top represented as supply and the bottom, as demand zones.

The supply and demand indicator can be used as an additional confluence indicator to help you increase your chances of winning.

You can change the colours of each bar to your liking, I changed the supply to red, so I can think of it as a resistance level and the bottom bar as green to think of it as support levels.

As you can see from the above screenshot the super trend indicator also displayed a sell signal at the supply zone, adding more confirmation of a potential downward movement and the price of the asset then actually dropped to the demand zone.

I did a quick forward test on a demo account taking trades from the supply and demand zones, and was quite impressed to see that almost 4 out of 5 trades were profitable.

I think this indicator might become a regular tool on my charts, just need to test it more to make sure its accurate enough, but so far so good.

Here’s the link to the indicator to learn more…

Supply and Demand Visible Range – Lux Algo