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Volume Spread Pattern Detector MT4

5

Introduction

This indicator detects volume spread patterns for buy and sell opportunity. The patterns include demand and supply patterns. You might use each pattern for trading. However, these patterns are best used to detect the demand zone (=accumulation area) and supply zone (=distribution area). Demand pattern indicates generally potential buying opportunity. Supply pattern indicates generally potential selling opportunity. These are the underlying patterns rather than direct price action. The effect of buy and sell market may come after observing several of these patterns sometimes. Therefore, these patterns are useful in detecting possible demand zone (=accumulation area) or supply zone (=distribution area). In overall this is easy and simple indicator to support your trading operation. Trading principle is based on the modified volume spread analysis. We do not use sub phase A, B, C, D and E of Wyckoff phases due to the high subjectivity in detecting them. Instead, we focus on identifying accumulation and distribution area using demand and supply patterns. This is simpler and more effective approach.


Input Recommendation

Most of time you can use default setting for this volume Spread Indicator. However, you might want to change some inputs for your specific needs. Here is the complete description of input settings.

 

Calculation Settings

  • Bars to scan: Amount of bars to calculate demand and supply pattern.
  • Indicator Period: Calculation period to generate each supply and demand patterns.
  • Lookback Factor: 1.0 as default
  • Signal to Noise Ratio: from 0.4 to 1.0 only. (Input used to filter random fluctuations in data.)

 

Indicator Setting

  • Use white background for chart: Set this to false if you just want to use default black background color.
  • Supply Pattern Color: color of supply patterns.
  • Demand Pattern Color: color of demand patterns
  • Neutral Pattern Color: color of neural patterns or no patterns.

 

Trading Strategy Guide

Volume Spread Pattern Indicator can run best to identify Demand zone (=accumulation area) and supply zone (=distribution area). When you run with Excessive Momentum Indicator, C point of Excessive Momentum become the selling climax (SC) or the buying climax (BC). Then you will use demand and supply patterns to confirm the accumulation area and distribution area for your trading. Both short term and long term trading is possible. Please check the trading stragey guide below:

Strategy Guide: https://www.mql5.com/en/blogs/post/750390

Please note that Volume Spread Pattern Detector is only the demo or light version of Volume Spread Pattern Indicator. Make sure to use Volume Spread Pattern Indicator (Paid Version) after you have tested and understood Volume Spread Pattern Detector.


Important Note

This is the off the shelf product. Therefore, we do not accept any modification or customization request on this product. In addition, we do not provide any code library or any support for your coding for this product.

Reviews 5
gnanos123
555
gnanos123 2024.02.11 18:31 
 

excellent indicator

Julio Garcia
498
Julio Garcia 2021.02.15 21:16 
 

Is good

8601567
779
8601567 2020.12.03 22:57 
 

Although I admit I have not made any money off of this indicator, I also didn't pay a dime for it because it is free. I am trying to figure out what I can use it with to confirm a supply/demand area. But in my opinion, it appears to work better than most of the crappy indicators on here that we pay allot of money for. That is why I am compelled to give this inventor a good rating. I do own a couple others and they work as they say they are going to work. The inventor has pushed very professional indicators in the past and I do hope to purchase his harmonic indicator some day.

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Download user manual from : https://ontrd.com/our-books/ MT5 Version : https://www.mql5.com/en/market/product/30284 This indicator is a market analysis method based on the "Mathematical formula for market predictions" article written by W.D. Gann depending on square of 144 90 and 52 . And square of 9 With method by Dr.hamada salam about square of 9 and its relations with channel and star of that square User Manual: Add Your review And contact us to get the user manual You Can Buy Full M
Up Down v6
Guner Koca
4.89 (9)
up-down indicator is no repaint and works all pairs and lower than weekly time frames charts. it is suitable also 1 m charts for all pairs. and hold long way to signal. dont gives too many signals. when red histogram cross trigger line that is up signal.and price probably will down when blue histogram cross trigger line that is down signal.and price probably will go up. when the signals not seen press + button on terminal . too see weekly chart because of low data on chart ,it needs to lower p
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Christophe Pa Trouillas
5 (6)
Identify ranges  | Get earliest signals of Trends  | Get clear exits before reversal  | Spot the Fibo levels the price will test Non-repainting, non-delayed indicator - ideal for manual and automated trading - for all assets and all time units $69   for launch - then back to >>   $149 After purchase,   please contact me on this channel   for recommended and personalised settings MT5   version:  Click here Get our full method with  BladeSCALPER  and   PowerZONES What is it about? TrendDECOD
Introducing   Quantum Trend Sniper Indicator , the groundbreaking MQL5 Indicator that's transforming the way you identify and trade trend reversals! Developed by a team of experienced traders with trading experience of over 13 years,   Quantum Trend Sniper Indicator   is designed to propel your trading journey to new heights with its innovative way of identifying trend reversals with extremely high accuracy. ***Buy Quantum Trend Sniper Indicator and you could get Quantum Breakout Indicator fo
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gnanos123
555
gnanos123 2024.02.11 18:31 
 

excellent indicator

Dmitry Fedoseev
70960
Dmitry Fedoseev 2021.09.01 10:46 
 

Индикатор использует для рисования графические объекты что не есть хорошо - его невозможно использовать для создания эксперта.

ekmql
184
ekmql 2021.06.27 22:19 
 

me cambia el fondo de pantalla a blanco, no muesta alertas

Julio Garcia
498
Julio Garcia 2021.02.15 21:16 
 

Is good

8601567
779
8601567 2020.12.03 22:57 
 

Although I admit I have not made any money off of this indicator, I also didn't pay a dime for it because it is free. I am trying to figure out what I can use it with to confirm a supply/demand area. But in my opinion, it appears to work better than most of the crappy indicators on here that we pay allot of money for. That is why I am compelled to give this inventor a good rating. I do own a couple others and they work as they say they are going to work. The inventor has pushed very professional indicators in the past and I do hope to purchase his harmonic indicator some day.

Reply to review
Version 1.9 2022.03.03
In version 1.9, we have made some minor improvements on Volume Spread Pattern Detector.

Bars to scan: Amount of bars to calculate demand and supply pattern.
Indicator Period: Calculation period to generate each supply and demand patterns.
Lookback Factor: 1.0 as default
Signal to Noise Ratio: from 0.4 to 1.0 only. (Input used to filter random fluctuations in data.)