The supply & demand indicator is probably one of the most used indicators for trading Forex & other assets as it shows all the price action that has taken place in the past, this will show where many buyers and sellers are waiting for the price to reach these levels to either open new trades, close existing trades or where their stop loss or take profits are waiting.
How to Trade Supply & Demand Levels
Traders who use supply and demand usually use the indicator for range trading if the zones are well established, they can incorporate the use of a stochastic indicator or a Relative Strength Indicator to assist in identifying overbought and oversold conditions. After viewing oversold & overbought conditions on a longer-term chart, it is possible to zoom into a smaller time frame to spot an ideal entry.
Custom Parameters
There are just a few settings for this indicator, the period, supply & demand colours and the opacity, the opacity is the setting for the amount of sharing in the boxes, the higher the period value the more bars back the indicator looks for calculating the price levels. The Line's colour and settings do nothing.
How to use an Automated cBot
If you wish to use the supply & demand indicator in your automated trading robot then we can help you do this so you can enter or close trades when the asset price touches the zones or if you want to add alerts or new features.
Support & Resistance with Telegram Alerts
If you need a support & resistance indicator that will send you Telegram alerts when the price of an asset touches the important zones, then we have one in our web store.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
Any Questions?
If you have any questions, please first search our product help forum for the answer, if you cannot find it, post a new question.
Join Telegram Community
You can join a Telegram community and chat with other traders to discuss, share and ask for help.
* Code upgraded for the latest version of cTrader with .NET 6.0
