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In figure 1, we have used the supply demand indicator mt4 on the eurusd chart. The red-colored rectangles show the supply zones or so-called resistance areas. The green rectangles show the demand areas or the support areas.
The supply and demand are not actual levels, but they encompass a zone or a narrow range from where the price can potentially reverse. The chart below illustrates the most basic ways the supply demand mt4 indicator plots the most important and price sensitive supply and demand zones.
In summary, the supply demand indicator is an automated indicator for mt4. Unlike other indicators, the supply demand indicator plots areas of support and resistance levels. By using this information, traders can visually identify potential price areas where price is most likely to reverse direction.
i just downloaded it and had to plan with code to get it to work with mt4 but here it is and it works on my jpy. Now if someone can figure out how to have a macd in there that prints an arrow when price hits supply or demand and the apporpriate macd setting that would be awesome.
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