Demand, Supply and Channel by BULL┃NET

The B | N DESC (Demand, Supply, and Channel by BULL / NET)

Indicator helps traders identify demand and supply lines. Breakouts are detected, and potential targets are calculated. Additionally, channels are automatically detected.

⚠️ Disclaimer – Please Read Before Using ⚠️

Concepts

Trend, demand, and supply lines are fundamental concepts in trading to identify a trend and detect a potential trend change. However, there’s a significant issue: if you show a chart to 10 traders and ask them to draw trend, demand, and supply lines, you’ll likely get 10 different results. This is where B | N DESC comes into play. The indicator defines demand and supply lines objectively using pivot points of different levels.

A pivot point is a high or low on the chart surrounded by bars that form lower highs or higher lows. The number of bars to the left and right defines the pivot length or level. Supply lines connect pivot highs top-down, and demand lines connect pivot lows bottom-up. Unlike traditional trendlines, which are drawn from left to right and require three anchor points, supply and demand lines are drawn from right to left.

Features

Supply Line Options

These settings control how supply lines and channels are calculated and drawn on the chart. You can display up to three supply lines.

- 1st, 2nd, and 3rd Supply Line: By default, two supply lines are active. Each line can be enabled or disabled individually.
- Channel: Determines whether channels are displayed.
- Confirm: If enabled, the channel will not be shown until confirmed by the price.
- Fill: When enabled, the channel will be filled with the chosen color once confirmed by the price.
- Level: You can define pivot points for any level between 1 and 100. Default values are 3, 5, and 15.
- Color, Style, Width: These settings customize the appearance of the supply lines.

Demand Line Options

Similar to the supply lines, these settings control how demand lines and channels are calculated and displayed on the chart. You can display up to three demand lines.

- 1st, 2nd, and 3rd Demand Line: By default, two demand lines are active.
- Channel and Confirm: Functions similarly to supply lines.
- Level: Levels between 1 and 100 are available, with default values of 3, 5, and 15.
- Color, Style, Width: These settings allow you to adjust the appearance of the demand lines.

Level Label Options

When a new demand or supply line is drawn, a small label appears at the x2 coordinate of the line. The label shows the height of the extreme point and the direction (up or down) along with the line type (D = Demand, S = Supply) and the selected pivot level.

Breakout Label Options

- Show in Timeframe: Breakout and target labels are shown by default in timeframes above 30 minutes. In shorter timeframes, pivot points can change rapidly, causing the labels to cover the bars.
- Breakout: The breakout label contains the breakout price, direction, pivot level, and breakout attempts.
- Target: A label that displays the target price, which is linked to the breakout point on the supply or demand line.

Additional Options

- Burned Line: Supply and demand lines remain active until new pivot points create a new line of the same level. After the 4th breakout, the line is marked as “burned” and will no longer be monitored for further breakouts.
- Spread: This feature allows you to account for your broker’s spread in the target calculation to avoid discrepancies.

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Disclaimer BullNet:[/i] The information provided in this document is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Any use of the content is at your own risk. No liability is assumed for any losses or damages resulting from reliance on this information. Trading financial instruments involves significant risks, including the potential loss of all invested capital. There is no guarantee of profits or specific outcomes. Please conduct your own research and consult a professional financial advisor if needed.

Disclaimer TradingView: According to the tradingview.com/support/solutions/43000591638-our-house-rules/]house


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Version 1.0 03.03.2025