I Supply Demand Zones Indicator
It’s fresh indicator can be used for automated trading with an Expert Advisor in your MetaTrader 4.
CATEGORIES: MT4, SIGNAL, LEVELS
Updated on: 28.10.2023
Identifying supply and demand areas is a trait of every successful forex trader. The proper identification of these places increases the profitability of the trader. I Supply Demand Zones Indicator draws these zones in the best way on an mt4 chart.
Supply and Demand Zones
Supdem zones are similar to support and resistance lines. However, there is a difference between the support and resistance lines and zones. These zones offer a wider area of demand and supply and provide stronger support and resistance.
Also, forex traders may not BUY or SELL from a single identified support or resistance line. But a majority of traders join within a zones depending upon their trading strategy.
Promotion:
How to trade forex using the I Supply Demand Zones Indicator?
The indicator automatically identifies the best zones and draws them on the mt4 chart. The indicator eliminates the guesswork and helps the trader to spot them immediately.
Traders BUY anticipating prices to move higher from a demand area. On the other hand, SELL on a supply area looking for prices to turn bearish.
Most traders place their stop loss below the dem-zone and above the sup-zone. Swing traders tend to hold positions till price reaches the opposite zone, while others trade according to a reasonable risk and reward ratio.
Promotion:
How to trade successfully using Higher time frame supply and demand zones?
Identifying supply and demand areas from a higher timeframe is vital to stay within the trend because supdem places of higher timeframes are more reliable.
In the above picture, the left image shows the GBPUSD M15 charts with supply and demand areas. Similarly, the right image shows the same chart but with zones of the H1 timeframe.
The trader can visually locate and understand the zones in both timeframes. Due to this insight, the forex trader can plan and execute successful trades.
The indicator is beneficial not only to new traders but also to traders using advanced trading strategies.
Limitations:
This indicator draw the zones automatically on an mt4 chart. But they must be validated by the trader manually. Supdem zones may fail, and the market may breach them subsequently. So traders must use price action for additional confirmation.
Conclusion:
There’s no doubt that forex trading using supdema is a proven strategy. And this best supply and demand zones indicator provides the trader with the necessary insight on the areas automatically.
IceFX NewsInfo is an informational news indicator that displays economic news affecting multiple currency pairs on a chart. Now you do not need to use any separate applications or websites for tracking economic news. All information about news and economic events is now available right on your chart. But the functionality of the indicator does not end there. The indicator is also capable of stopping trading of Advisors during the period of news release or some time before and after their release. It can send inform about the release of news a few minutes before their release (set in the settings).
Characteristics of the IceFX NewsInfo Indicator
Platform: Metatrader4
Currency pairs: Any currency pairs, Indices, Metals
Trading Time: Any trading sessions
Time Frame: Any
Recommended broker: Roboforex, XM, FBS
Overview of indicator functionality
You know perfectly well how economic news can influence price behavior and make its movement unpredictable. In addition, after an important news event comes out, spread and slippage can quickly increase, which can lead to large losses and destroy any profitable strategy. That is why it is important to correctly assess the importance of economic news in trading and to suspend manual and automated trading during the period of their release. The IceFX NewsInfo indicator will be an excellent helper for this.
The indicator is able to stop trading EAs and turn them on again after a certain time after the release of news. Here is a real example, when the indicator turned off the work of all the advisors installed in my terminal (except for those that have open orders – you can change them in the settings) 30 minutes before the news release:
newsinfo-disabled-ea
In addition, the indicator displays the current GMT Time. And based on this, you can calculate the difference between your broker’s time and GMT. It is sometimes necessary to configure some EAs.
icefx-newsinfo-current-gmt
The developers claim that the indicator can be used in back testing, even there is a video showing this:
However, I failed to apply the NewsInfo indicator on the backtest. Write in the comments if you succeed in applying the indicator to history.
NewsInfo IceFX is designed for Metatrader 4 only!
Indicator interface
The indicator has the following information areas:
News viewer window (NewsBox)
Indication of global Trade Sessions on a map
Current GMT date and time
Expert Advisor shutdown warning message window
Timelines on the chart (showing the exact dates based on actual broker’s time)
newsinfo-interface
Indicator settings
First of all, for the indicator to work correctly, you should enable DLL import, as shown below:
newsinfo-allow-dll
The indicator has the following settings
As you can see IceFX NewsInfo is a highly functional professional news indicator. I hope you find it useful.
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