The Demand and Supply Forex Block indicator for Metatrader 5 identifies the best demands and supply zones on the price chart.
Traders often use supply and demand levels to identify trade entry points, stop loss placement, and take profit targets.
How to trade with the Demand and Supply indicator:
- Green-colored blocks represent major supply levels.
- Red-colored blocks represent major demand levels.
The following indicator inputs can be modified: history mode, show weak zones, show untested zones, show broken zones, fractal fast factor, fractal slow factor, border styles, alerts, colors, and more.
Become familiar with this technical indicator and try it out initially on a demo account.
It is compatible with any time frame, Forex pairs, and any other trading instrument.
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The following chart shows what the Demand and Supply Forex Block indicator looks like when applied to the MT5 chart.
How To Buy And Sell With The Demand and Supply Forex Block Indicator?
Find a simple trading example below:
- In an uptrending market, wait for the price to return to the major supply zone (green block).
- Initiate a buy order and place your stop loss below the previous swing low level.
- Exit the buy trade when the price touches the red-colored demand zone.
- In a downtrending market, wait for the price to return to the major demand zone (red block).
- Initiate a sell order and place your stop loss above the previous swing high level.
- Exit the sell trade when the price touches the green-colored supply zone.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Demand and Supply Support and Resistance.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on the properties
- Now you can edit the inputs, colors, levels, scale, and visualization
- Finally, click the OK button to save the new configuration