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#1 Indicators » Supply Demand V2 indicator for MT4 » 2020-10-27 23:56:26

SteveF
Replies: 0

Hi Traders,

I'd like to share an MT4 supply and demand indicator I'm developing. If you like it (or not) please let me know. It is multi-timeframe and can be used multiple times on same chart.

The inputs are as shown in the screenshot below. They should be self-explanatory except for:

-- The fractal pattern (Left Strength and Right Strength) is used to form the spply/demand block. Default is 2 (candles before and after) but can be adjusted.
-- Maximum levels to Use - It uses six fractals back by default to look for supply and demand areas. This can be adjusted to use less than 6, but 6 is max.

Operation:
-- It is based on fractals, however Supply will use only higher fractals than price. Demand will be lower fractals than price.
-- Supply/demand areas will not be drawn if they are inside another S/D area. (see lower areas 2-3 on screenshot below, notice 2 is a fractal but it is inside #3
-- S/D areas will be cleared(invalidated) when CLOSE of a candle gets above or below the high/low.

Supply_and_Demand_V2.zip



mini_GBPUSD_10_6_2020_Daily.png

#2 Actual Trades » GBPJPY sell 10/20/2020 » 2020-10-20 19:31:36

SteveF
Replies: 0

Here's a sell on GBPJPY. Price made a doji on an H1 supply zone right under a daily supply zone.

mini_gbpjpy1.png

hit tp shortly after this.

mini_gbpjpy2.png

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