HKS Trend Channels with Volume-Based Demand and Supply

A chart overlay that combines sloping trend channels with volume-based demand and supply zones. It helps you see trend direction, identify areas formed by high-volume candles, and track previous support and resistance after a breakout.

Description

The indicator includes:

Trend channels: Red upper boundaries, green lower boundaries, and a dashed white midpoint. Channels use SMA-based trend detection and ATR-based width.

Volume-based zones: Blue demand/support zones near qualifying candles’ lows and orange supply/resistance zones near their highs.

Volume filtering: By default, a qualifying candle must exceed 1.5 times the preceding average volume and match or exceed the highest volume in the preceding 50-bar window.

Broken-level tracking: After a candle closes beyond a zone’s outer boundary, a thin horizontal line preserves that price. The latest three broken demand levels and three broken supply levels extend forward as new bars appear.

Adjustable settings: Customize trend sensitivity, channel width, volume filters, zone thickness, and zone lifetime.

The script uses the current chart timeframe. Volume zones are calculated from completed candles and require a symbol with volume data. They represent high-volume price areas—not actual resting orders or order-book liquidity. 

Adapted from Flux Charts original trend-channel logic, with volume-zone and broken-level features added for GoCharting Lipi. This is a chart-analysis tool, not a standalone buy or sell signal.