The Supply and Demand mt5 Indicator is a MetaTrader 5 version of the indicator originally coded by eevviill7.
This version also has history mode added. Set the “history mode” parameter to “true,” then double-click on any point in the price mt5 chart to see mt5 Support and Resistance zones at that point.
The Supply and Demand mt5 indicator is based on fractals, and the ATR indicator is to find and draw mt5 support resistance zones on the mt5 price chart. There are several types of zones:
- weak: important high and low points in the trend
- untested: major turning points in the price chart that price still didn’t touch them again
- verified: strong zones; chart price touched them before but couldn’t break them
- proven: a verified zone that at least four times the price couldn’t break it
- broken: zones that chart price breaks them (not applied for weak zones)
Fixed warnings when compiling the code and errors when there were low bars in the chart.
I checked zones with the MT4 version, and they are the same.
History mode added (turn off / on in the indicator settings input tab).
MT5 Supply Demand Forex Indicator Attributes:
Currency pairs: any, but majors recommended (GBPUSD, EURUSD, EURJPY, AUDUSD, USDJPY, GBPJPY, etc.), any financial instrument
Type: mt5 supply and demand, mt5 support and resistance
Time frames: M1, M5, M30, M15, H1, H4, W1, D1, MN
How to install the Supply and Demand Forex Indicator on your MT5 trading platform?
- Download the mt5 indicator by clicking the “LINK” button at the bottom of this post.
- Copy and paste the mt5 Supply and Demand Indicator files into the folder of your Metatrader 5 platform: MQL5 > Indicators.
- You can open the folders this way: File > Open Data Folder > MQL5 > Indicators.
- Restart your MT5 Client.
- Select the Chart and Timeframe where you want to test the indicator.
- Browse “Custom Indicators” in your Navigator, which is located on the left in your MT5 platform.
- Right-click on shved_supply_and_demand_v1.2.mq5 and then click “Attach to the chart.”
- You can change settings if you need and then click ok.
- The mt5 indicator is ready and running on the chart.
In the archives, you will find the following Metatrader 5 files included:
Supply and Demand MT5 Forex Indicator Free Download
Read More Aria Scalper MT4 EA FREE Download