How SCT works:
The most important and initial step is the edge of trader to identify SUPPLY and DEMAND zones on the chart where the price is expected to react based on his/her analysis and strategy.
- For this, the trader selects the rectangle shape from this section and specifies the zone.
- After identifying the desired area, right-click on the rectangle and select "Properties."
- Based on the identified supply or demand zone, enter "DEMAND" or "SUPPLY" at the beginning of the "Name" field with capital letters, then press only one space and let the rest of naming provided by MetaTrader . If the zone is a demand area, it should be named as "DEMAND," and if it is a supply area, it should be named as "SUPPLY."
- Once the above steps are completed, SCT takes over the rest.
- When the price reaches the second half of the defined zone, SCT looks for a PinBar or Engulfing candle and opens a trade for us instantly.
- SCT looks for Bullish PinBar and Engulfing candle in a demand zone and Bearish PinBar and Engulfing candle in a supply zone.
- In the demand zone we specified, the engulfing candle should cover the previous candle, which had a bearish trend. In the supply zone, our engulfing candle should cover the previous bullish candle.
- In the figures below, you can see a supply zone where the robot enters a trade after the price hits the second half of the zone and receives a pin bar candle confirmation.
- In the figures below, you can see a supply zone where the robot enters a trade after the price hits the second half of the zone and receives an engulfing candle confirmation.
- In the figures below, you can see a demand zone where the robot enters a trade after the price hits the second half of the zone and receives a pin bar candle confirmation.
- In the figures below, you can see a demand zone where the robot enters a trade after the price hits the second half of the zone and receives an engulfing candle confirmation.
- An important point to note is that the expert advisor executes two trades with different rewards for us. When one of the trades hits its take profit, the trade becomes risk-free, and continuing the trade becomes risk-free for us.
- The value set for Reward 1 for risk-free and Reward 2 is the responsibility of the individual trader.
