Settings

Auction Finder Settings Overview

Auction Finder's default settings provide traders with a starting point to begin analyzing markets. By default, the indicator is set up to display the most recent supply and demand zone, specific to that timeframe:

This helps traders quickly see where the most recent areas of support and resistance are in the market:

Overall, while the default settings provide traders with a starting point, enabling the previous auctions can provide traders with more historical insight and a deeper understanding of the supply and demand dynamics in the market. This is a valuable feature as traders can identify significant levels of support or resistance in the market based on past areas of interest.

Traders can access up to five previous auctions for both supply and demand zones. The previous auctions are number from 1 to 5, classified by the order of occurrence, with the most recent identified as #1 and the oldest auction as #5:

By enabling these previous auctions, traders can analyze historical data and identify patterns or trends that may be repeating in the market. This can help make more informed trading decisions and optimize profitability. This can be particularly useful for identifying significant levels of support or resistance that may have been established in the past. These levels are created by areas where supply and demand imbalances have occurred in the past:

The auction boxes can be used as potential areas of entry/exit for a trade, or to set stop-loss, etc. Having a clear understanding of where price is likely to be rejected/accepted can help traders lose less, and win more trades.

Enabling multiple auctions provides traders with a comprehensive view of supply and demand imbalances across different timeframes, allowing them to identify both short-term and long-term trends. Some traders prefer to enable fewer zones to focus in on more recent price movements and/or market conditions.

By enabling multiple auctions, traders can also identify areas where supply and demand imbalances have shifted. This information can be useful in determining whether a market is trending or ranging, and can help make safer decisions about where to enter/exit trades.

Overall, the Auction Finder trading indicator's settings panel enables traders to analyze multiple supply and demand auctions and gain insights into how these auctions may impact future price movements.