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