UnFilled Order – Supply and Demand Indicator

CONCEPTS
UnFilled Order is a trace of institutional position in the price action. We use UnFilled order as Supply & Demand magnet that usually indicate remaining big limit orders that can not be absorbed by the market due to the speed of price change that makes an absence of buyers/sellers in the area.
UnFilled Order formed in pattern such as Rally-Base-Rally, Rally-Base-Drop, Drop-Base-Drop, or Drop-Base-Rally. Base has small body candle compared to its near candles.
DETAILS & EXAMPLE OF HOW TO USE

On Nasdaq chart, the light green indicate bull candle base, and orange indicate bear candle base. It appear in the middle of strong Drop-Base-Rally and never touched after that. Place buy limit on the proximal (upper) level as entry.
FEATURES
- Adjustable body candle ratio
NOTES
- The Indicator should be combined with other higher timeframe analysis method to determine bias and trend.
- There are a lot of criteria to determine which UnFilled Order candle to pick as a good Supply & Demand, (like the location, originality, freshness, etc) which is explained more detail in the learning course.