The Supply and Demand forex indicator displays important zones of supply and demand for any currency pair and timeframe.
Zones of supply and demand can be used to trade either market breakouts or to trade possible trend reversals.
In trending markets, look for market breakouts.
For example, in an up trending market, watch for a possible break of the demand zone and go long.
Conversely, in a down trending market, watch for a possible break of the supply zone and go short.
It is also an interesting indicator to trade “buy on dips” in an uptrend or “sell on rallies” in an downtrend.
In an up trending market, look for a pullback towards the supply zone (support area).
In an down trending market, look for a rally towards the demand zone (resistance area).
The USD/JPY M15 chart below displays the Supply and Demand forex indicator in action.
Basic Trading Signals
Read the description above to learn more on how to use this indicator.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Backlimit, zones) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: support | resistance
Copy and paste the supply-and-demand.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)