RBR/DBD
A rally base rally structure indicates that the market has created a demand zone (can be interpreted as a support) while a drop base drop structure indicates that the market has created a supply zone (can be interpreted as resistance). While RBRs and DBDs can be found on literally any timeframe, like with anything chart-related, the lower the timeframe, the more noise and/or the weaker the sentiment. In other words, try to stick to longer timeframes such as 4H, 1D, 1W because anything lower, while may end up being valid, can have a relatively high probability of not being tradeable.
So how can you trade these market structures? Very simply to be quite honest. Once a demand or support zone is identified, simply wait for price to enter the zone and confirmation that the zone didn't break and enter either a long position or short position. Keep in mind that when a demand zone or support zone breaks, it can no longer be treated as a regular RBR/DBD; however, what's interesting is that you will find that even broken demand/support zones continue to be key levels.
Let's look at an example below:
- A demand zone was found, as indicated by the "D" label as well as the blue shaded area.
- In rectangle 1, price comes into the demand zone and holds around the 212 area. Price then proceeded to the 218 area in the following days.
- In rectangle 2, price comes into demand again, and even though the wicks cross through the demand zone identified, the body does not break the zone. Price holds within the demand zone and then proceeds to :rocket: :rocket: :rocket:. Keep in mind though that the more demand zones are touched, the weaker that demand zone becomes. Same with supply zones.
- In rectangle 3, price finally breaks through the demand zone and so this can no longer be treated as a regular RBR anymore; however, notice how price struggles to get back over the old RBR.
Currently, the script will show zones as a single zone that changes over time. For example, if a RBR is identified today and then another one identified the next day, you'll see how the blue shaded area will shift to only reflect the most recent. This does not mean that the RBR identified previously is not valid. It is on the to-do list to change this behavior so that each RBR is distinct and separate.
TO-DO:
- Make each RBR/DBD separate and unique from each other
- Option to remove broken demand and supply zones
- More robust identification of RBR/DBD
- Add alert conditions when a RBR/DBD is identified
TODO: RBD / DBR
Skrip jemputan sahaja
Hanya pengguna yang diberikan kebenaran oleh penulis mempunyai akses kepada skrip ini dan ini selalunya memerlukan pembayaran. Anda boleh menambahkan skrip kepada kegemaran anda tetapi anda hanya boleh menggunakannya selepas meminta kebenaran dan mendapatkannya daripada penulis — ketarhui lebih lanjut di sini. Untuk lebih butiran, ikuti arahan penulis di bawah atau hubungi WWWOOOSSS secara terus.
TradingView tidak menyarankan pembayaran untuk atau menggunakan skrip kecuali anda benar-benar mempercayai penulisnya dan memahami bagaimana ia berfungsi. Anda juga boleh mendapatkan alternatif sumber terbuka lain yang percuma dalam skrip komuniti kami.
Arahan penulis
Amaran: sila baca panduan kami untuk skrip jemputan sahaja sebelum memohon akses.
Penafian
Skrip jemputan sahaja
Hanya pengguna yang diberikan kebenaran oleh penulis mempunyai akses kepada skrip ini dan ini selalunya memerlukan pembayaran. Anda boleh menambahkan skrip kepada kegemaran anda tetapi anda hanya boleh menggunakannya selepas meminta kebenaran dan mendapatkannya daripada penulis — ketarhui lebih lanjut di sini. Untuk lebih butiran, ikuti arahan penulis di bawah atau hubungi WWWOOOSSS secara terus.
TradingView tidak menyarankan pembayaran untuk atau menggunakan skrip kecuali anda benar-benar mempercayai penulisnya dan memahami bagaimana ia berfungsi. Anda juga boleh mendapatkan alternatif sumber terbuka lain yang percuma dalam skrip komuniti kami.
Arahan penulis
Amaran: sila baca panduan kami untuk skrip jemputan sahaja sebelum memohon akses.