The Best Supply And Demand Indicator For MT4 (SupdemV2)

Are you on the hunt for supply and demand indicators that actually hit the bullseye?

Tired of those that promise but just don’t deliver?

Well, the search is over, my friend!

Introducing…drum roll…Sup Dem V2!

You’re probably thinking:

“Another S & D indicator? What’s the big deal?”

Supdem V2 stands as one of the few MT4 supply and demand indicators that consistently identifies high-probability zones and accurately marks them on your chart, eliminating the need for manual drawing and potential errors. It’s not just about the basics, either… Supdem also comes packed with features to make identifying and trading SD zones hassle-free for all!

Here’s a sneak peak:

1. 1) Instant MT4 alerts whenever price reaches a zone.
2. 2) Change fresh, untouched zone colour upon first retest.
3. 3) Display higher timeframe zones on lower timeframes (and vice versa)
4. 4) Customizable colors for fresh zones, old zones, and those visited by price.

Download Sup Dem V2 using the button below:

PRO TIP: Once you’ve placed Supdem.ex4 file in your “Indicators” folder, you’re good to go! Open the indicator from the menu, keep the default settings as they are, and you should see any recent supply and demand zones appear on your charts.

If you’re not seeing any zones, double-check Supdem.ex4 is inside the MQL4 > Indicators Folder.

So, ready to see what SumdemV2 can do?

Let’s jump in…

I’ve crossed paths with a mountain of supply and demand indicators – some worked well, others were total duds. However, one indicator easily stands above the rest.

Friends, allow me to introduce Sup Dem V2.

I downloaded SupDem V2 years ago (we’re talking over a decade!), and it’s still my go-to indicator for spotting high-probability supply and demand zones.

Sure, it might not provide all the flashy features of newer SD indicators. Rather, it helps streamline the process of identifying and drawing high-probability zones, even for those new to supply and demand trading. SupDem V2 focuses on what truly matters trading supply and demand:

Identifying and drawing simple, easy to see supply and demand zones.

Check it out – SupdemV2 marks the 8 supply and demand zones above almost exactly like we do, right?

• The zone starts at the zones recent swing high or low (distal line).
• Then extends to the point where that steep rally or decline takes off (proximal line).

It’s a massive time-saver!

Supdem doesn’t factor in the move away from a zone, so some supply and demand zones won’t appear marked or the chart. Just draw these zones manually: SupdemV2 makes it easier to spot smaller zones and also teaches correct zone drawing and placement – ).

Getting Supdem V2 setup with MT4 is really simple, and only takes a few minutes. If you’ve installed other MT4/5 indicators before, the process is basically the same:

1. Download the SupdemV2 file,
2. Open up the MT4 “Data” folder,
3. Drop the “SupdemV2.exe” file inside.

… you know the score!

Skip ahead to learn how to use the main features of SupdemV2. If you need help setting the indicator set up, here’s a quick guide to get you started:

Step 1: Open The MT4 Data Folder

See the “File” option up at the top of your MT4 screen? Give it a click, and a small dropdown menu will appear showing a few different choices.

What you’re looking for is: “Data Folder”.

Found it?

Give it a click – the folder will pop right open!

Step 2: Add Sup Dem.ex4 To The Indicators Folder 

Now click the “MQL4” folder and navigate to the “Indicators” folder.

Open it, and you’ll see all the MT4 indicator source files.

Just drop the Supdem.ex4 file inside and restart MT4 to install the indicator.

Step 3: Check If SupdemV2 Can Identify SD Zones!

Let’s get Supdem onto your chart and highlighting supply and demand zones.

First, head up to the “Insert” tab and hover your mouse over “Indicators.”

Next, slide your cursor over to “Custom“…

You should see “SupDemV2.33” somewhere in the middle of that list (it might be higher or lower depending on how many other custom indicators you’ve got installed).

Give it a click – Supdem’s settings menu should open on screen.

From here, you can adjust the customizable settings of Sup Dem, and enable or disable the many useful features the indicator has (…more on these in a minute!).

For now, hit “Okay” to return to your chart.

If you’ve installed SupdemV2 correctly, you should now see recent supply and demand zones appearing over your current chart window.

No Zones in Sight?

If you’re still staring at a blank canvas, something’s not quite right with the installation. Here’s how to troubleshoot the issue:

1. 1) Check your MT4 settings: Make sure you’ve ticked the “Allow DLL imports” box.

2) Double-check the file location: Confirm you’ve placed Supdem.ex4 in the correct “Indicators” folder within your MT4 directory.

If you’ve done all that and still no zones, it might be an issue with your MT4 platform itself. Unfortunately, I can’t help with that directly, but you might try restarting MT4 or reaching out to your broker’s support team for more assistance.

Remember: Place the Sup DemV2.ex4 file inside the “Indicators” folder within MQL4 folder – found inside the data folder under “File” on MT4.

When I first got my hands on Sup Dem, it was a pretty bare-bones tool.

All you could really do was change the zone colors and . But with the V2 release a few years later, a whole bunch of useful new indicator features were added, all aimed at making your supply and demand trading smoother and more efficient.

Here’s a quick look at what you can do:

Before You Start: Open the settings menu to enable/disable different features of Supdem. Click “Charts” and select “Indicator List“.

Inside the menu, find Sup DemV2, and select “Edit“.

SupdemV2’s indicator settings will open on screen.

Important: Before making any changes to Supdem, double-check the following three settings are enabled (set to “True“):

Solid Zones = True.
Solid Retouch = True.
Recolour Retouch = True.

Also… set “Recolour Weak Retouch” to False (KEY!)

Enabling this option changes the zone colour according to the markets return – weak or strong – not helpful! Supply and demand retests don’t come in “Weak” and “Strong” variations; the price action within the zone tells you the strength of the retest!!

So, keep this turned off…

SupdemV2 should enable the settings above by default, but it’s always worth double-checking!

Never Miss Another SD Trade: Setting Zone Alerts Using SupdemV2

If you’re tired of missing supply and demand entries because you weren’t glued to your screen, this feature is about to become your new best friend.

Sup Dem V2 has built-in zone alerts: Whenever price reaches a fresh supply and demand zone, a little “Ding” sound will play, and a small notification box will open on screen. It’s like a quick wake-up call, letting you know details about the currency pair and zone price has reached.

Turning on the Alerts:

Just head to the settings menu and find the “AlertOn” option.

Change AlertOn to “True“.

Right below, you’ll find “AlertPopup.”

When it’s turned on, a little notification box will pop up on your screen whenever price touches a recent supply or demand zone. It’ll even tell you which currency pair and zone the alert comes from, so you know exactly where to focus your attention.

You can even change the alert sound using the “Alert Sound” setting.

Pretty handy, eh?

Heads Up: Notice it says “Fake Demand” or “Fake Supply” in the box?

SupdemV2 sometimes mistakenly flags supply and demand zones as fake. But “Fake” zones are still perfectly valid for trading. Always use your own judgment to decide if a zone is worth trading or not, even if the indicator labels them “Fake”.

Don’t dismiss zones just because Supdem says so – it’s a tool, not a trading robot!

Color-Coded Zones: Quickly Find Fresh and Powerful SD Zones

Want to quickly tell which zones are fresh and hold potential?

SupDem V2 has you covered: You can change the colors for touched and untouched zones, making it easy to see at a glance which supply and demand zones are ripe for trading (fresh zones) and which might be losing their steam (touched zones/old zones). Can I get an amen?

So, how do you enable colour coded zones? All it takes is a small bit of fine-tuning with a couple of important colour settings:

Scroll towards the end of the settings and you’ll see the colour options.

Change the colours to whatever you fancy; but remember to KEEP “Strong” and “Weak” options the SAME colour. Sup Dem automatically determines what is/isn’t a high-probability supply or demand zone, which isn’t accurate or correct.

So, make them the same colour – that way, you won’t get confused.

PRO TIP: Change the “Retouch” colours to something bright! That’ll ensure supply and demand zones change colour once touched, making them easy to spot.

One of the coolest features of SupDem V2 is the ability to choose which timeframes’ zones you want on your chart. Say you trade 1-hour zones but use 5-minute charts to find your entry signals.

Just enable “ShowOnM5” and SupDem will display the 1-hour zones right on your 5-minute chart.

This keeps your chart window clean and focused, allowing you to see the bigger picture while still getting precise 5-minute entries.

Yes, Tradingview does have supply and demand indicators, but they’re not nearly as sophisticated or precise as Supdem or the ones you’ll find on MT4/5. Many Tradingview S&D indicators don’t even use zones! I’m not even sure Tradingview can handle zone-based indicators properly. I struggled to find a single one that actually marked zones using… well, zones.

Instead, they rely on simple lines or weird colours to mark supply and demand areas, which often miss the mark the actual zones entirely, and prove a headache to understand.

Check out this custom “Demand/Supply Zone” Tradingview indicator:

Spot any zones yet?

This is the reality when dealing with supply/demand indicators on Tradingview. I tested at least dozen zone based custom zone indicators, none of which correctly identifed actual zones. I’ll stay on the lookout, but for now: Stick to drawing zones supply and demand zones manually or by using the SupdemV2 indicator (Best option for newbies!

Let’s be honest, no indicator can magically replace the need to develop your own skills for identifying and drawing supply and demand zones.

But Sup Dem V2 comes pretty darn close – it’s the closest I’ve seen.

Sure, it’s not perfect. Every indicator has its quirks. But it does a fantastic job, and it’s a lifesaver for traders sick and tired of trading weak or incorrect zones using dodgy SD rulesets.

Need a Hand with Sup Dem?

If you run into any problems installing or using Sup Dem, don’t hesitate to reach out. I didn’t create the indicator, so I can’t fix or explain every little bug, but I’m happy to help with the basics:

Installing it on MT4
Setting up alerts
Changing colors
And so on…

Just shoot me an email, and I’ll get back to you as soon as I can.

Don’t forget: Check out my S&D video course for a complete breakdown of how to identify and draw supply and demand zones manually like a pro.