Flosoft Supply Demand MT5
- Indicators
- Jan Flodin
- Version: 1.7
- Updated: 22 January 2024
- Activations: 10
Among the top indicators offered here on the market in terms of value for money.
I recommend you to read the product's blog (manual) from start to end so that it is clear from the beginning what the indicator offers.
This supply and demand zone indicator draws the zones on the chart and sends alerts when the price has reached or broken a zone. It has support for one nested zones (zones on one other time frame than the current) which will also be drawn on the chart and involve alerts. It is also possible to use it to be alerted about regular double tops/bottoms instead of zones. RSI, Bollinger bands, volume, candle pattern and divergence filters can be used to filter out only the strongest setups. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system.
Features
- Can show nested zones and send alerts about them as well.
- Reverse breakout logic from zone based on Hull moving average color change and/or 5 different candle patterns (pin bar, engulfing, tweezer, morning/evening star and three line strike). An alert will be sent and an arrow drawn on the chart.
- The zones have 3 colors (adjustable by input). Dark color for untested zone, medium for tested zone and light for broken zone.
- The price of the zone outer border as well as the amount of zone test are written at each zone.
- The following divergences are supported: MACD, OsMA, RSI, CCI, Stochastics and Awesome.
- The indicator can write the signals to global variables which can be used by an Expert Advisor for auto trading.
Input parameters
Please find the description and explanation of the input parameters here.
Very useful indicator. Easy to spot supply and demand zones in the main window. Using it for scalping. Well working, even in the 1M Timeframe. Highly recommended, for that price!