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Indicators

Shved Supply and Demand - indicator for MetaTrader 5

Behzad Movaghar
Views:
69388
Rating:
(174)
Published:
2020.05.26 10:43
Updated:
2023.07.25 12:30
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This is MQL5 version of Shved Supply and Demand indicator written by Shved and upgraded by eevviill7 from this link.

I also added history mode to indicator. Set "historyMode" parameter to true then "double click" on any point in price chart to see Support and Resistance zones in that point.

Indicator uses fractals and ATR indicator to find and draw support resistance zones on price chart. Types of zones are:

  • weak: important high and low points in trend 
  • untested: major turning points in price chart that price still didn't touch the again
  • verified: strong zones, price touched them before but couldn't break them
  • proven: verified zone that at least four time price couldn't break it
  • broken: zones that price breaks them (not applied for weak zones)

v1.1:

  • Fixed warnings when compiling the code and error when there was low number of bars in the chart.
  • Checked zones with MT4 version and now they are exactly the same.

v1.2:

  • History mode added

v1.3:

  • Added parameter for sending notification to mobile phone when price entering S/R zones.

v1.4:

  • Fixed Sup. & Res. labels in history mode.

v1.5:

  • Added Timeframe option to show S/R zones from a timeframe on other timeframes. For example you can show H4 zones on D1 and H1 and other timeframes.
  • Optimizing the alert function to not receive alerts when you set the weaker zones to not show on the chart.

    v1.6:

    • Optimization in finding the broken zones.
    • Reorganizing input parameters and deleting the unused codes.
    • Added prefix parameter, now you can add multiple instances of the indicator to the chart by changing the prefix.
    • Fixed array out of range error when showing zones of a timeframe on other timeframes.

    v1.7:

    • Buffers added for data window to show the strength of support and resistance zones and the type of zone if price is inside a zone.


      Please check out my profile if you want to buy multi-timeframe dashboard of this indicator.



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