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Using Supply and Demand Zones to Track Retests and Role Reversals

Article MQL5 code base
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Summary

This indicator description focuses on supply and demand zones and their behavior over time. It reports the number of times zones are retested and identifies levels that switch roles, such as support becoming resistance or resistance becoming support. Users can also toggle weaker zones on or off.

The indicator exposes prices nearest to the zones through data buffers, allowing automated trading programs to read those levels. The description notes a compatibility update for newer terminal builds, but provides no zone-construction rules, entry or exit method, parameter guidance, or performance evidence. It is therefore useful as a description of displayed features and potential integration, while leaving the analytical interpretation and effectiveness of the zones untested.

Key ideas

  • The indicator counts retests of supply and demand zones.
  • It tracks zones that change from support to resistance or the reverse.
  • Weak zones can be hidden or displayed.
  • Nearest zone prices are available in buffers for automated systems.
  • The document provides no trading rules or performance data.

Tags

Technical indicatorsExecution

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.