Hello Supply and Demand Traders,I have a custom expert advisor which trades off supply and demand zones. The zones it trades off are from this source - https://www.mql5.com/en/code/14545 (indicator attached below).
Here are the rules of the EA:- When price reaches the proximal level of an untested supply zone it will enter a sell trade.- When prices reaches the proximal level of an untested demand zone it will enter a buy trade. - The stop loss is placed one pip outside of either zone.- The take profit is 3 times that of the stop loss. (ie. R:R=3:1)- It has been developed in mql4 (runs on mt4) Let me know what you guys think! Happy trading :)~Brian
Could be very useful if supplemented with proper analysis IMO.
Takes the emotions out of the trade. Something I've struggled with for a long time!