How to use the supply and demand Rectangle Extender indicator This indicator is not an automatic supply and demand indicator, but it's the core of the way I work. You have to watch this video and read my indicator's thread to know exactly how to use it. How to mechanically pre-plan a supply and demand trade There are certain variables you need to take into account when pre-planning a trade, the default values differ whether it's a long or a short trade, it is also different if you are trading a major pair versus a crosspair, or if you are planning an intraday or a swing trade.
Attachment 4. Trading like a robot.
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How to use the different timeframe combinations and nested curves On this video I've gone through a few different live setups that happened at the private forum at www. It's much better to have the higher timeframes with you on any trade setup. Hopefully by going through these live trades, you will understand the rules much better, how we made a top-down analysis from the Monthly down to the D1 and H4 entry timeframes.
I've created an indicator which will help all those supply and demand trader out there trading with the Metatrader 4 platform. Metatrader 4 has many known limitations, the rectangle tool is one of them. It was not thought for supply and demand traders, so I came up with an idea and created and indicator that will modify the painted rectangles automatically the way I wanted, to suit the way supply and demand type of trading requires.
That's very very dangerous and lower odds. With this indicator you will always know about it, if your zones are correctly drawn. It will all depend on how good you are locating the supply and demand imbalances. Rectangles will only be visible on the timeframe where it's been painted.
The indicator will automatically tick the timeframe checkbox under the rectangle's visualization tab 2. It will calculate the distance in pips between the distal line highest price and the proximal line lowest price of the rectangle 4. It will display price labels automatically on both the highest and lowest price, so that you know where to set your entries and your stop loss 5.
It will allow you to automatically draw trendlines from left to right of the rectangle on H4, D1 and WK timeframes. What's the point of doing this? To assess how close or far you are from the higher timeframes D1 and WK , how low or high you are in the supply and demand curve. Trendlines will be visible on all timeframes, so if you are on the H1 chart you will know how close to D1 and WK supply and demand you are by paying attention to the trendlines colors. It will not interfere with the automatic zones drawn by the Insanity Industries SD indicator, it will not expand the rectangles created by it, so both your manual rectangles and the automatic ones can coexist.
This is accomplished with the ExcluseName1 variable 7. You will be able to choose how many zones above and below current price will have trendlines painted, you do want to have your charts as clean as possible and not crowded with lines all over the place preventing you from seeing the price action 8. It will allow you to change the color and style of each trendline for each of the timeframes, so you'll know how close you are to D1 and WK by the trendline's color. Let me explain what each variable does.
It will not interfere with the automatic zones by not expand the rectangles created by it, so both your manual rectangles and the automatic ones can coexist. These 2 settings is the color of the labels, high and low High. It's the order you see in the line style window in Metatrader 4 The settings below are like the H4 explained above, but duplicated for both D1 and WK charts. Very important to know how close to the D1 and WK supply and demand curve you are.
If markets are close the rectangle indicator will not work properly, it needs price ticks to update them. A trick is to open the indicators windows and close it, then it will update all indicators as well as the rectangle reader. Try it. We want clean charts, so the more automatic trendlines we use the more crowed and unreadable charts will be.
Decide what timeframe is your curve and then change the settings accordingly.
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NOTE: I will not be adding M30, H1 or M15 trendline zones, because I am not doing that kind of trading, sorry How will your charts look like when you add this indicator? Take a look at the first post in this thread and you will see it. Watch a 1 hour video I created explaining how to use the indicator and how to make a topdown analysis with supply and demand methodology using it and no indicators.
This will be the basic template I will be using for my posts here. I'd like that if you post any charts, which I hope you will be doing, you post them based on this template and indicators I've attached, by using the simple methodology I've started to explain on my thread. If we all do it the same way, then we all can help each other, because we'll be basing our decisions on the same methodology and supply and demand price action areas.
Having different charts with different colors and indicators, dozens of lines painted all over the charts making it crowded will not allow all of us to see price action as explained in the thread. The indicators that I use have been added to the initial post, they are these: 1. It will show a big price level at the bottom right of your chart. Metatrader does not show big price labels, it's quite useful 2. Fractals Bill Williams. This indicator will draw a small dot on the swing highs and lows by taking into account 2 lower highs and 2 higher lows for a swing high and the opposite for the swing longs.
Rectangle reader. This is explained in another thread, it will expand the rectangles that you draw as well as calculating pips width, a a long etcetera. More information in this same thread, 2 post above. A quick snapshot of what all timeframes are doing.
I will explain how I use it. I don't use it for taking decisions, but as a secondary tool to assess the trend. I don't use CCI, but I had it build like that some months ago 5. This is the Average Daily Range. It will show you how many pips the currency pair has moved today, in the last day, 5, 10 and 20 days in average. Very important for confluences with SD levels you have drawn on your charts.
They are widely use by traders and institutions and they are good to be used when it confluences with a nice SD level, I don't use it for entries, only to support a good level 8. Pip Value and Pip Spread.
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You will see that information by default on the template always That's all that I use. Feel free to download the indicators and basic template that I'm using. Remember, if you do post your charts and analysis, do it with this template so that we're all in the same page. Quoting panoramia I've created an indicator which will help all those supply and demand trader out there trading with the Metatrader 4 platform.
I will create a video where I will show in full detail how this indicator can help you on this trading, once you see Hi Panoramia, Thank you for this thread. I opened a pepperstone Demo account. I applied your default indicators and template to it but i can't see the chart as yours. How i can upload a chart? Hello there Mosah, Markets are closed, the rectangle indicator needs price ticks to update the rectangles. I've just created a video that I will be uploading soon so that you all know how to use it and how to trade the SD curve on the higher timeframes.
The template is already attached in the first post at the top. The indicators will work with any broker. Try it like that for now, it should work. I opened a Pepperstone demo account. I applied the "Rectanglereader" to it but it dosen't work. Could you post a template please? Quoting panoramia Hello there Mosah, Markets are closed, the rectangle indicator needs price ticks to update the rectangles. The indicators will work with any broker Thank you again. Thanks for sharing panoramia! My english skills are limited but I will try to be one of your disciples. I've created a 1 hour video that explains in more detail quite a few things.
I have improvised a bit, nothing was planned. I hope that you like the way I've done the topdown analysis. The video can be seen here: Inserted Video. I start from the Monthly chart down to the 4H and H1 chart 2. I draw all major supply and demand levels on all those timeframes 3. I explain how to use the WK and D1 supply and demand curve 4. I explain in detail how to use the Rectangle Reader Extender indicator, necessary to work the way I do. I am sure you will like the way this indicator I created will help you improve on your supply and demand trading. Watch it and give me your feedback.
I will do it soon. Not posting too much but TraderinSD gave me a link to your thread and there's so detailed description in the cap of it It will make sense even for those, who're also familiar with SD trading strategy.
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