Supdem indicator for forex
It should be noted that this indicator can be applied to all kinds for forex currency pairs and also fits with any sorts of timeframe charts within the MT4 terminal. How does it work and how to use the SupDem indicator The indicator draws supply and demand levels on the chart automatically and it also corrects these levels as soon as an important update occurs in the market or when the time frame is changed. Supply and demand levels are a similar concept to support and resistance levels and there are many different methods that involve trading at the breakdown or rebound from these market levels.
You can also supply the SupDem indicator to your proven best forex trading system or strategy as an additional confirmation of trade entries and exits. As always, to achieve good results, remember about proper money management when trading with this or any other forex indicator. Most supply and demand traders wait for the price to enter these zones, where major activities of buying or selling have taken place, before entering a long or short position themselves.
It makes sense to buy at a demand zone and to sell at a supply zone, but keep in mind that fresh zones are more effective than retested ones. They can be used as entry zones for a continuing trend or as reversal zones for a changing trend. Trades can be made aggressively or conservatively, each with their own rules of entry and exit. TradingView has a smart drawing tool that allows users to visually identify these levels on a chart.
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