SupDem Indicator
Platform: MT4 Last update: September 23, 2024The SupDem indicator for Metatrader 4 (MT4) is a custom forex trading indicator that draws supply and demand levels on the chart automatically, and you can download it here for free and review by yourself.
You will have access to SupDem.mq4 and SupDem.ex4 files.
The SupDem is an a great trading tool for a bit more advanced traders. It should be noted that this indicator can be applied to all kinds for forex currency pairs and also fits with any sorts of timeframe charts within the MT4 terminal.
How does it work and how to use the SupDem indicator
The indicator draws supply and demand levels on the chart automatically and it also corrects these levels as soon as an important update occurs in the market or when the time frame is changed. Supply and demand levels are a similar concept to support and resistance levels and there are many different methods that involve trading at the breakdown or rebound from these market levels.
You can also supply the SupDem indicator to your proven best forex trading system or strategy as an additional confirmation of trade entries and exits. As always, to achieve good results, remember about proper money management when trading with this or any other forex indicator.
SupDem Buy Entry
Look for buy trade opportunities when:
- the price approaches to demand levels – aqua colored zones;
- the price action pattern indicates possible reversal.
SupDem Sell Entry
Look for sell trade opportunities when:
- the price approaches to supply levels – yellow colored zones;
- the price action pattern indicates possible reversal.
