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Sup Dem

The SupDem indicator for MT4 highlights the probable supply and demand zones of the price. This indicator is easy to use and can be a great tool for any Forex trader.

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Description

The SupDem Indicator for MT4 is a technical indicator that automatically detects and highlights probable supply and demand zones of past price action. Supply and demand zones are important areas of interest in the financial trading industry for identifying reversal/breakout trading opportunities.

Therefore, the indicator is a beginner-friendly tool designed to help traders identify supply and demand zones (which act as potential support and resistance zones) without hassle. Besides, it can be an invaluable tool, especially for beginners who may still be struggling to identify valid supply or demand zones.

Features of the SupDem Indicator for MT4

The indicator highlights the most recent and probable supply and demand zones of recent price action on the chart. It highlights the supply zone with a yellow band, while the demand zone is in an aqua-colored band.

Moreover, the indicator allows trades to customize the parameters to suit their preference. For instance, traders can customize the color to highlight the supply and demand zone.

Benefits of Using the Indicator

  • Enhances Trading Decisions: The indicator helps improve overall trading performance by displaying the supply and demand zones of the price, which are optimal support/resistance levels. Simply put, the indicator helps traders identify zones to anticipate high-probability trading setups, thus improving overall performance.
  • Time-Saving: The indicator also saves traders the time it would take to identify supply and demand zones, thereby increasing productivity.

Indicator Settings Description

The indicator comes with the following customizable settings:

Forced_TF: Determines the time frame for analysis.

Use_narrow_bands: Defines the width of the supply/demand bands.

Kill_retouch: Enables/Disables the indicator to identify a new supply/demand zone after the price retouches an old zone.

TopColor: Defines the color for the supply zone.

BotColor: Defines the color for the demand zone.

Price_mark: Determines the color of the price mark.

Price_Width: Defines the width of the price mark.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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