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Supply And Demand Levels Detector

100 USD

Demo downloaded: 18

Published: 12 September 2022

Current version: 1.21

Supply And Demand Levels Detector

Indicators
Siyabonga Howick Masilela
Version: 1.21
Updated: 24 September 2022
Activations: 5

MT5 INDICATOR.

This indicator detects and zones of demand and supply on any chart, any timeframe and any broker. It's perfect for technical analysis.

By default, the red lines suggest strong selling zones while green lines indicate strong buying zones. Once a line is drawn(green or red), there's a high chance prices will return to that zone to close the line.

INPUTS:

(int) Strength_Filter = 1 : This new feature allows user to filter out detection of minor levels. The higher the value, the lesser the detection rate, but the advantage is the detected levels are more reliable.
(color) Buy_color = Green : An option to choose color for BUY signal lines. Default set to Green.
(color) Sell_color = Red : An option to choose color for SELL signal lines. Default set to Red.

Try it yourself. An EA based off of this indicator is still in the making, soon to be released. Owners of this indicators can get a the EA for free.

The attached video shows how the Indicator signals to the user these zones.

more...

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Version 1.21 2022.09.24

Grammatical error fixes.

Version 1.2 2022.09.22

Bug fix from previous version

Version 1.1 2022.09.19

UPDATES IN THIS VERSION:
》The indicator now calculates previous support and resistance zones for better chart analysis.