Advanced Supply Demand works on all instruments and time frames. It has many inbuilt settings that can be customized according to the desire of the trader. The developer makes many promises on how the system can bring huge boosts to your trading. Our article will discuss whether traders should implement the indicator in their charts and cover all the basic features.
Advanced Supply Demand: characteristics
After purchasing the indicator from MQL 5 marketplace, traders have to log in to the community on their MetaTrader 4 platform. Head over to the market section and download the algorithm, after which it will appear on the indicators tab. Place it on the respective charts and enable the auto-trading button to begin trading.
Bernard Schweigert is the author of the product who has more than 5 years of experience according to the MQl 5 marketplace. He has a rating of 4.8 for a total of 2334 reviews. The developer has published 13 products on the website and states that his algorithms ensure quality trading. It is common among sellers to make big claims about their products, which are false in most cases. Bernard also follows the same approach in this case.
The indicator has the following features:
- It comes with built-in settings that can be customized to show more or fewer zones
- It works on every instrument and time frame. Traders can choose to stay on lower periods for scalping or day trading
- It automatically provides the possible points where the buyers and sellers are located
Currency pairs, strategy, and time frame
The indicator studies the chart for points where the market had reversed before. It then plots the zone based on the input settings, which determines the highlighted area’s strength and width. It can also plot nested zones that are similar reversal areas at different time frames, which combine to give a confluence.
Advanced Supply Demand trading performance
It is sad to note that the developers do not provide performance reports tracked via notable websites such as Myfxbook. It is possible to trade the algorithm manually and upload the statistics so that other traders can have an idea of the monthly gains and drawdown. Lack of records shows that the system may not have performed up to the required margin.
How much does it cost?
The indicator is available through multiple options. Traders can rent the system for three months at $65. A yearly license is present at a huge discount of 68%, giving the final price of $85. It is also possible to purchase the program for a lifetime at $148.
Reviews from customers
Customer reviews are available on the MQL5 marketplace only. Traders state that the product requires a solid knowledge of trading. They also state that the developer makes the indicator look easy; however, they face a hard time trading it in reality.
Should you use Advanced Supply Demand?
Advanced Supply Demand is not suitable for traders who are just starting their trading journey. Amateur and professional traders may get the product working, but it will take most of their time to learn about the settings and produce fruitful results.
- Available on the MQL 5 market place which is a reputable place
- There are no live copy trading results available
- Suitable only for traders with good trading experience
- No money back guarantee provided
Trading indicators such as Advanced Supply Demand should only be used to assist in price action trading. Traders can not implement only this algorithm to trade as the overall output can be poor. To increase the winning rate, it is important to use other indicators as well.