Our custom developed Forex Supply And Demand Tradingview Indicator. In forex trading, supply and demand play a significant role. As a matter of fact, all the price moves you see on the chart, whether the price is going up or going down simply tells you the forces of supply and demand are at work.
So what actually is Supply and what is Demand?
To understand the concept of supply and demand, you have to go back to the high school days when you learnt about economic theory and here are the basics of it:
- if an item has a lot of demand, price increase
- if there is an oversupply of an item, price falls.
So really, in forex, when there is a demand for a currency pair, then it simply means that there are lot more buyers than sellers and therefore, the tendency to push price up.
If there is less less demand for a a currency pair (which means more there are more sellers than buyers), price falls in the currency pair.
So basically, this is what supply and demand in forex means:demand=buyers market, supply=sellers market.
Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy.
The EUR/GBP 15 minute chart below displays the Forex Supply And Demand Tradingview Indicator in action.
Copy and paste the Forex Supply And Demand Tradingview Indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove Indicator from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete