
Supply and Demand Indicator
Platform: MT5 Type: Market Levels Last update: September 24, 2024The 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)
v1.1:
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.
v1.2:
History mode added (turn on / off in the settings input tab).