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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 4
Julio Garcia
503
Julio Garcia 2021.02.15 21:16 
 

Is good

8601567
761
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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Filter:
Dmitry Fedoseev
68323
Dmitry Fedoseev 2021.09.01 10:46 
 

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

ekmql
166
ekmql 2021.06.27 22:19 
 

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

Julio Garcia
503
Julio Garcia 2021.02.15 21:16 
 

Is good

8601567
761
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.)