Supply and Demand Assistant EA
This Expert Advisor (EA) is made to help you with Supply and Demand Analysis while you draw your zones and after you have drawn them.
EAs functions are:
- Extend/colors rectangles - Rectangles will be extended/colored with every new bar.
- The curve - Shows curve lines and different curves values on chart.
- Order Placement - Place orders more simply with this EA based on the rectangles drawn.
- Risk Calculation – Automatically calculates risk based on defined zones and risk management criteria.
- Split orders – ability to split positions into multiple smaller positions to take advantage of scaling of profits.
- Multi Chart - Shows screenshots of higher timeframes in current chart to get an overview of your top down analysis. Function can be used for any strategy that utilizes top down analysis.
Here are some of the main inputs of the EA. There is not enough space to show them all with description. Please have a look at the full manual to see all inputs and functions of EA.
Option will define your timeframe combination sequence for top down analysis.
- hTimeframe – defines highest/largest timeframe
- mTimeframe - defines middle/intermediate timeframe
- sTimeframe - defines smallest/lowest timeframe
- True: will extend the rectangle, set price labels at proximal and distal ends of zones and shows the width of zone in pips. Draws horizontal lines at proximal and distal ends of zone to define the rectangle in lower or higher timeframes.
- False: will not do anything with the rectangle
- clr*Demand/clr*Supply - Choose the colors for demand/supply zones. You can choose different colors for fresh, slightly tested, tested and used up zones.
- *_lineclr/*_linestyle/*_linewidth – Sets line color/linestyle/linewidth of proximal and distal lines of drawn rectangles on lower and higher timeframes
- True - the visibility of horizontal line objects defining drawn zones will be set to the timeframe where its drawn only.
- False - the visibility of horizontal line objects defining drawn zones will be displayed across all timeframes
- True - when Supply and Demand zones on curve timeframe (hTimeframe) are drawn, the EA will create two lines between them to quickly asses where we are on the curve.
- False - the curve lines are not drawn.
- Curve_LoPCT/Curve_HiPCT – User defined value, defines boundary of low/high and middle of curve.
- CurveMode, DisplayedCurves - different modes for which TFs the curve is calculated and how they are displayed.
- True - shows the charts of hTimeframe and mTimeframe.
- False - shows predefined sequences for current chart.
- MCscreenPCT – Defines the screen real estate of multi chart feature as a percentage of total chart area when multi-chart feature is enabled.
- MCscaleTF1 & MCscreenTF2 - choose zoom factor of multi-charts
- MCshiftTF1 & MCshiftTF2 – toggles the multi charts to shift to the left
Trading & Alerts
- ZoneAlerts (PopUp, Email, Notification)
- RiskBasedOn – Risk calculation, 3 options.
- Account BALANCE
- Account EQUITY with definable risk per trade RiskPCTPerTrade
- Fixed amount of risk definable via FixAmount option, can define risk amount in absolute value terms via RiskAmountPerTrade option.
- RiskPCTperTrade - The amount of money in percent points you want to risk per Trade. If you set RiskPCTPerTrade at 2.0, that would define a 2% risk per trade. The Lotsize will be calculated for 2% risk of either Balance or Equity as defined by user. See Functions-VolumeCalc.
- SplitOrder - Splits orders to take advantage of scaling of profit targets. Example: if set 2, the money risk will stay the same, but you get two trades with 1/2 lot instead of one trade with 1 lot. *Note: leave the stop the same, not changing your risk
Hotkeys - change TFs, show/hide menu/Multichart
Have a look at the video explanation, a good presentation of the EA.
For downloading the manual, go to the discussion/comments tab.
This EA is a tool to help and support you with your Supply and Demand analysis. The Money Management and MultiChart functions can also be used without a Supply and Demand strategy though.
Note: You cannot test multiple timeframes or buttons in general with the MT4 StrategyTester.
- Added Entry- and StopWiggleRoom options (when VolCalc is active and you select a price label) v1.013