What Is The Supply And Demand MT4 Indicator Used For?
Supply and Demand MT4 indicator – is simply an mt4 indicator that is used for highlighting the supply and demand zones on an mt4 chart, as shown on the chart below. A significant amount of traders have trouble drawing supply and demand zones on their own or manually. When these traders cannot draw the zones, they decide to go online and start looking for indicators that can automatically draw the zones on their charts.
Supply and Demand zones represent price areas where the currency pair stopped its advance or decline in the past. These reversal points are important because these zones can affect the currency pair again in the future. If you understand where the pair is struggling, you can adjust your trading plan accordingly.
Supply And Demand Indicator shows the potential supply and demand areas.
How To Trade With Supply And Demand Indicator:
Buy Signal: When the pair touches demand zone (blue marked zone)
When the pair touches supply zone (maroon marked zone)
Keep an eye on. I have seen quite some indicators to pop up over the last several years that would promise to draw a dead accurate supply and demand zones on your charts. But the problem is that all supply and demand indicators will mark the zones according to the trader who coded the indicator. This presents a problem, because each trader has their own tweaks to the supply and demand method. Some may draw the areas differently from other traders. Trader who has coded the indicator has different criteria for identifying and drawing supply and demand zones that is incorrect to the way they should really be drawn. Then by using their indicator you are also going to be trading supply and demand in an incorrect way.