Supply and Demand Zones Indicator for MetaTrader 5 Download - [TradingFinder]

The Supply and Demand Zones indicator is an essential technical analysis tool on the MetaTrader 5 platform. It is used to identify key market zones.

This MT5 indicator automatically detects strong demand zones (support) or supply zones (resistance) and highlights them using colored bars.

Supply and Demand Zones Specification Table

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

Uptrend Conditions

The price chart of the EUR/AUD currency pair in the 5-minute timeframe is displayed. The price has touched the demand zone multiple times in the chart, showing reversal signals such as bullish engulfing (green) and bullish Doji candlesticks.

These signs indicate a potential positive price reaction to this level, providing a suitable opportunity for Buy trades.

Downtrend Conditions

The price chart below displays the AUD/USD currency pair in the 5-minute timeframe. The price has reached the supply zone, forming bearish Doji candlestick patterns in this area, indicating a potential trend reversal.

These signals increase the likelihood of price rejection from this level, making it an optimal setup for Sell trades.

Indicator Settings

The adjustable parameters of the Supply and Demand Zones Indicator are presented in the image below:

• 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 is a practical tool for market trend analysis and determining support and resistance levels.

This indicator identifies demand zones (potential buy areas) and supply zones (potential sell areas), helping traders recognize reversal zones and determine appropriate entry and exit points.