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FreeIndicators·ThinkorSwim

Support & Demand Zones

Auto support, resistance, and supply/demand bands from swing structure.

How to install in ThinkorSwim

  1. In ThinkorSwim, open a chart, then go to Studies → Edit Studies.
  2. Click Create, clear the editor, and paste the code.
  3. Name it, click Apply, then OK, and it draws on your chart.

How to Use — WTP_Zones

Automatic support/resistance + supply/demand from swing structure. Educational, not advice.

What it is (one line)

Auto-plotted S/R levels and supply/demand bands from swing pivots: the nearest swing high (resistance, red) with a supply band, and the nearest swing low (support, green) with a demand band.

Who it's for & best timeframe

Trader typeHow you use itBest timeframe
Premium seller (CSP)Sell puts into a green demand zone you'd own the stock atDaily
Day traderFade/defend at the nearest band; target the opposite band5-min – 15-min
Swing traderBuy the demand zone in an uptrend; trim into supplyDaily

What you see (overlay)

  • Red dashed line — nearest swing high (resistance); red band = supply zone.
  • Green dashed line — nearest swing low (support); green band = demand zone.
  • Labels: current Resistance / Support values.
  • Band width scales with ATR (zoneWidthAtr), so zones breathe with volatility.

How to use it

  1. Demand zone (green) in an uptrend = where to buy pullbacks / sell puts.
  2. Supply zone (red) = where to take profit / expect resistance.
  3. A clean break + hold beyond a band flips it (old resistance → support).

Settings

  • strength (5) — bars each side that define a swing. Higher = fewer, stronger levels.
  • atrLength (14) / zoneWidthAtr (0.5) — band thickness in ATRs.
  • showZones (yes) — toggle the shaded bands.

Important limitation (read this)

A level confirms `strength` bars AFTER the pivot forms — it is non-repainting, which means it lags by design. You won't see the freshest swing until it's confirmed. Don't expect a line on the current bar.

Common mistakes

  • Treating a just-formed high/low as a plotted level (it needs strength bars to confirm).
  • Setting strength too low → noisy, weak levels. Raise it for cleaner zones.

Video script outline

  1. Hook: "Support and resistance drawn for you — and it doesn't repaint."
  2. Explain swing pivots + ATR bands.
  3. Buy demand / sell supply; break-and-hold flips a zone.
  4. Honest bit: it confirms late by design (non-repainting).
  5. Recap + import link.

Educational analysis, not financial advice.

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