Supply Demand RSJ Zones is a free indicator for MetaTrader 5 that draws supply and demand zones on the chart, in two strength levels: strong zones in full color and weak zones in a faded tone.
What it shows
- Supply zones (red by default): price areas above the current price where the market turned down.
- Demand zones (green by default): price areas below the current price where the market turned up.
- Strong or weak: strong zones use the full color; weak zones use a faded tone of the same color. Place the mouse over a zone to see its tooltip: Strong supply, Weak supply, Strong demand, Weak demand.
- Each zone starts at the candle where it was born and extends a few candles to the right of the current candle.
- Zones that price has broken are removed, and overlapping zones are merged into one.
- The zones are updated at the opening of each new candle, using closed candles only: they do not change while a candle is forming.
- The zones are drawn behind the candles, cannot be selected or moved by mistake, and are removed together with the indicator.
How to add it to the chart
- Open the Navigator (Ctrl+N), expand Indicators and then Market, and find Supply Demand RSJ Zones.
- Drag it onto the chart (or double-click it).
- In the Inputs tab, adjust the values if you wish and click OK.
- It works on any symbol and any timeframe. To change the settings later, right-click the chart, open the list of indicators and edit it.
Inputs
- Bars to analyse (300-1500): default 1000. How many recent candles the indicator scans for zones. Values below 300 or above 1500 are limited to that range. More bars show older zones as well; fewer bars keep only the recent ones.
- Supply zone color: default dark red (178,34,52). Color of the supply zones.
- Demand zone color: default green (34,139,94). Color of the demand zones.
Colors
You choose only the two main colors. The faded tone of the weak zones is made automatically from that color and the chart background, so it adapts to light and dark charts. After changing the chart background, the weak zones take the new tone at the next candle, or right away if you open the indicator properties and click OK.
Tips and frequent questions
- No zones on the chart? The indicator needs a few dozen candles of history. Scroll the chart back or wait for the history to load.
- A zone did not move during the candle. That is expected: zones are updated only when a new candle opens.
- Too many zones? Lower Bars to analyse (300-1500). To see older zones, raise it.
- Higher timeframes give wider zones; you can use the indicator on several charts with different timeframes.
- It is an indicator only: it never opens, closes or changes orders, and it has no alerts.
Download
Supply Demand RSJ Zones: free.
The PRO version, Supply Demand RSJ PRO, adds five strength levels, retest counts, filters, up to 5,000 bars and alerts.
Questions and suggestions: send me a private message through my MQL5 profile.
Trading involves risk of loss. The indicator shows market information; it does not forecast prices and offers no guarantee of results.
