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Supply And Demand Levels Detector

MT5 INDICATOR.

This indicator detects and zones of demand and supply on any chart, any timeframe and any broker. It's perfect for technical analysis. 

By default, the red lines suggest strong selling zones while green lines imply  strong buying zones. Once a line is drawn(green or red), there's  99% chance prices will return to that zone to close the line.


INPUTS:

  • (int)               Strength_Filter = 1 : This new feature allows user to filter out detection of minor levels. The higher the value, the lesser the detection rate, but the advantage is the detected levels are more reliable. 
  • (color)          Buy_color     = Green : An option to choose color for BUY signal lines. Default set to Green.
  • (color)          Sell_color     = Red     : An option to choose color for SELL signal lines. Default set to Red. 


Try it yourself. You won't regret it. An EA based off of this indicator is still in the making, soon to be released. Owners of this indicators can get a the EA for free.

The attached video shows how the Indicator signals to the user these zones.


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Version 1.21 2022.09.24
Grammatical error fixes.
Version 1.2 2022.09.22
Bug fix from previous version
Version 1.1 2022.09.19
UPDATES IN THIS VERSION:
》The indicator now calculates previous support and resistance zones for better chart analysis.