Today, we're diving into the MQL5 version of the Shved Supply and Demand indicator. Originally crafted by Shved and enhanced by eevviill7, you can find the original code here.
One of the coolest features I've added is the history mode. Just set the "historyMode" parameter to true, then double-click on any point in your price chart to see the Support and Resistance zones for that specific point.
This indicator utilizes fractals and the ATR indicator to pinpoint and draw those crucial support and resistance zones right on your price chart. Here’s a breakdown of the different types of zones you'll encounter:
- Weak: Significant highs and lows within a trend.
- Untested: Major turning points that the price hasn't retraced to yet.
- Verified: Strong zones where the price has bounced off in the past but couldn't break through.
- Proven: These are verified zones where the price has failed to break at least four times.
- Broken: Zones that the price has pierced (not applicable for weak zones).
Version Updates:
v1.1:
- Fixed compilation warnings and resolved errors related to low bar counts on the chart.
- Ensured zones match up perfectly with the MT4 version.
v1.2:
- Introduced the history mode feature.
v1.3:
- Added an option to send notifications to your mobile when the price enters S/R zones.
v1.4:
- Fixed Support and Resistance labels in history mode.
v1.5:
- Introduced a Timeframe option to display S/R zones across different timeframes. For example, you can view H4 zones on D1, H1, and other timeframes.
- Optimized the alert function to avoid unnecessary alerts when weaker zones are hidden.
v1.6:
- Optimized the process of identifying broken zones.
- Reorganized input parameters and eliminated any unused code.
- Added a prefix parameter, allowing you to overlay multiple instances of the indicator on your chart by simply changing the prefix.
- Fixed the array out of range error when displaying zones from one timeframe on another.
v1.7:
- Added buffers for the data window to show the strength of support and resistance zones, along with the type of zone when the price is inside a zone.
If you're interested in purchasing a multi-timeframe dashboard for this indicator, feel free to check out my profile.
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