Supply and Demand Zones Indicator for MetaTrader 4 Download - [TradingFinder]

The Supply and Demand Zones indicator in the MetaTrader 4 platform is one of the essential tools for technical analysis. It draws strong supply and demand zones.

 This MT4 supply and demand indicator automatically identifies past strong demand zones (support areas) or strong supply zones (resistance areas) and highlights them using colored bars.

Supply and Demand Zone Specifications Table

The specifications of the "Supply and Demand Zones Indicator" are presented in the table below:

Uptrend Conditions

The price chart of the AUD/NZD currency pair in the 5 minute timeframe is displayed.In this indicator, the price reaches a demand zone (Support Zone) and shows signs of reversal, such as forming a bullish, engulfing candlestick (green).

This signal can indicate a potential price reversal from the demand zone and provide a suitable entry point for buy trades.

Downtrend Conditions

The image below displays the Bitcoin Cash (BTC/USD) price chart in the one-hour timeframe.

The price reaches a supply zone (Resistance Zone) and shows signs of a trend reversal, such as the formation of Doji and bearish engulfing patterns in this zone.

Indicator Settings

Image below presents the adjustable parameters of the Supply and Demand Zones indicator:

• Show support zone: Display support area
• Show resistance zone: Display resistance area
• The show touched zone: Display touched zones
• Show untouched zone: Display untouched zones
• Show last zone. 0 Means show all: Display all zones
• Hide unions that two zones have: Hide overlapping sections of two zones
• Color untouched support: Color of untouched support zone
• Color untouched resistance: Color of untouched resistance zone
• Color touched support: Color of touched support zone
• Show the first cycle of the market: Display the first market cycle
• Show the second cycle of the market: Display the second market cycle
• Color of the first cycle of the market: Color of the first market cycle
• Color of the second cycle of the market: Color of the second market cycle

Conclusion

The Supply and Demand Indicator in MetaTrader 4 is a powerful tool for identifying key support and resistance zones.

This indicator identifies demand zones (potential buy areas) and supply zones (potential sell areas), recognizes critical reversal points, and determines appropriate entry and exit zones.