Zones from a higher timeframe carry more weight than zones from the chart you trade. The multi time frame supply and demand indicator draws both: zones from pivots on your chart and zones from H4 pivots, in different colours. Any candle that touches a zone and closes in its favour gets a mark.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: MTF_Demand_Buy, MTF_Supply_Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 17 |
Reading the drawn elements
Two sets of zone boxes and two marks.
`InpDemandColorCTF` `clrLimeGreen` boxes chart demand.
`InpSupplyColorCTF` `clrCrimson` boxes chart supply.
`InpDemandColorHTF` `clrDodgerBlue` boxes H4 demand.
`MTF_Demand_Buy` prints lime with arrow 233.
`MTF_Supply_Sell` prints red with arrow 234.
- MTF_Demand_Buy: arrow, lime, width 2, arrow code 233
- MTF_Supply_Sell: arrow, red, width 2, arrow code 234
What the code actually computes
Chart zones
`InpPivotLookback` `3` bars on each side confirm a pivot on your chart. Each pivot’s candle becomes a zone.
H4 zones
`InpHigherTF` `PERIOD_H4` with `InpHTFPivotLB` `2` does the same on the H4 chart. `InpMaxZones` `12` per type per timeframe stay live.
Touch
A bullish candle within `InpProximityATRmul` `0.20` of a range of a demand zone prints a buy. Zones expire after `InpZoneLifeBars` `240` bars.
Reading it correctly
Blue and orange boxes come from H4.
Green and crimson boxes come from your chart.
Overlapping boxes mark the stronger areas.
Marks repeat while price sits in a zone.
Busy ranges fill with marks.
`InpArrowOffsetPts` `30` sets the mark gap.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
Zone touches report once per closed bar. `EnableAlerts` is the master switch, and the popup plus the sound playing `InpSoundFile` start on, with mobile and email off.
Every Multi Time Frame Supply And Demand Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
InpPivotLookback |
Fractal pivot left/right bars (current TF). Pivot bars on your chart, `3`. | 3 |
InpHigherTF |
Higher timeframe for zones. Higher timeframe for zones, `PERIOD_H4`. | PERIOD_H4 |
InpHTFPivotLB |
Fractal pivot left/right bars (higher TF). Pivot bars on H4, `2`. | 2 |
InpMaxZones |
Max active zones per type per TF. Live zones per type per timeframe, `12`. | 12 |
InpZoneLifeBars |
Zone life in current-TF bars. Zone life in chart bars, `240`. | 240 |
InpProximityATRmul |
Zone-touch proximity (xATR14). Touch distance in ranges, `0.20`. | 0.20 |
Display settings
| Setting | What it does | Default |
|---|---|---|
InpDemandColorCTF |
(see inputs panel) | lime green |
InpSupplyColorCTF |
(see inputs panel) | crimson |
InpDemandColorHTF |
(see inputs panel) | dodger blue |
InpSupplyColorHTF |
H4 supply colour, `clrOrange`. | orange |
InpArrowOffsetPts |
Arrow offset (points). Mark gap in points, `30`. | 30 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master alert switch, `true`. | on |
EnablePopup |
(see inputs panel) | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
Sound, ships on, `true`. | on |
InpSoundFile |
(see inputs panel) | alert.wav |
Matching it to your chart
Chart plus H4 zones suit M15 and H1 trading. EURUSD H1 is the reference chart, where marks come in clusters. On M15 the H4 zones frame the session. On H4 both sets come from the same chart.
Where it disappoints
There is no cooldown, so marks cluster heavily.
Every pivot makes a zone, fresh or not.
A touch with a bullish close is a light trigger.
The sound route ships on.
Copy the compiled Multi Time Frame Supply And Demand Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Supply and Demand Strategy.
Download the Multi Time Frame Supply And Demand Indicator for MT4 and MT5
The zip holds the compiled Multi Time Frame Supply And Demand Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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FAQ
What separates InpHigherTF zones from chart zones?
Colour and source. Blue and orange boxes come from H4 pivots, green and crimson from your own chart. Where both overlap, two timeframes agree on the area.
What does InpProximityATRmul 0.20 allow?
A candle that comes within a fifth of a range of the zone still counts as a touch. It catches reactions that stop just short of the box.
Why do MTF_Demand_Buy marks cluster?
Every bullish candle that touches a live demand zone qualifies, and this build has no cooldown. While price works through a zone, marks repeat bar after bar.
What does InpZoneLifeBars 240 remove?
Zones older than 240 bars on your chart, about ten trading days on H1. Old areas drop off so the chart shows zones that still matter.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Multi Time Frame Supply And Demand Indicator as one input. Always backtest before trading live.
Category: this is part of our Trend collection. Browse more Trend for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- Learn more about the underlying method in Purchase price adjustment on Wikipedia.
- For wider market background, see Anchored VWAP at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.