Advanced Supply Demand is an indicator available on the MQL 5 marketplace. The algorithm can be customized in many ways to cater to the traders’ needs. Using the chart history, it carefully analyzes and highlights all the possible areas of supply and demand.
Detailed Forex Robot Review
The indicator is available to download through the MQL5 web page, which neatly details all the necessary information. The developer highlights all the indicators of the indicator that can be easily adjusted according to the trader’s requirements. Several images show the indicator in action.
The product developer is Bernhard Schweigert, who has more than five years of experience in the financial industry. He has 13 products listed in the marketplace. A total of 2324 reviews give him a rating of 4.8.
Advanced Supply Demand has the following set of features:
- It comes with various parameters that can be adjusted according to requirements
- It can be used to highlight the points of entry or targets
- Can work on multiple time frames
- Requires no manual intervention, i.e., it is fully automated
How does it work?
The algorithm is available to download after your purchase on the MQL 5 marketplace. Afterward, it is necessary to log in to the community on the MetaTrader platform. Head over to the markets tab and search the product to download it. The product will be available in the indicators tab, where you can drag it to the respective charts. Enable auto trading to begin trading with the system.
Advanced Supply Demand Strategy Tests
Advanced Supply Demand works on all time frames and instruments. Zone strength functions are some of the added features that allow traders to determine if the area of supply or demand is sturdy or not. The algorithm can be utilized to place new traders or exit out of the old ones. It is also possible to set up alerts for possible outcomes, i.e., price enters the zone, breaks the zone, and forms a reversal candle from a zone. The indicator also pinpoints any zones that overlap with the one on other time frames.
As the product is the indicator, it is not possible to backtest it.
No Trading Results
Even though the product is an indicator, it is possible to test it for the future by trading manually on a live account. The developer fails to provide any hyperlinks to the results that raise some concerns over the authenticity of the system. We do not know if employing it in our charts will prove profitable or not.
The indicator can be bought via MQL 5 marketplace for $148. It is also possible to rent it out for three months to one year at $65 and $85, respectively. As the product is sold through MQL5, there is no money-back guarantee provided.
Customer reviews are only available on MQL 5, which gives the system a nearly 5-star rating for a total of 176 pieces of feedback. Users complain that the product is only good for those individuals who have a solid knowledge of supply and demand. Some customers also state that having many configurations is a bit confusing.
Advanced Supply Demand can be confusing to beginners due to many settings. Some developers make their systems complicated to blame the trader on their lack of exploration when the algorithm is not performing. This might be the case with this indicator.