Supply and Demand Indicator MT4

The Supply and Demand Indicator for MT4 doesn’t just draw one static line and call it support — it builds a full map of zones on your chart, grades each one by how well it’s held up, and updates that grading as price keeps testing it. It’s a free download, and installation takes about a minute (see below).

What Is the Supply and Demand Indicator?

Under the hood, this is a fractal-based support/resistance zone tool. It runs two separate fractal scans across your price history — a “fast” pass that catches minor swing points and a “slow” pass that only catches more significant ones — and builds a zone around each surviving swing high or low. Every zone then gets a strength rating based on what price has actually done since:

• Weak — a fresh zone from the fast (less significant) fractal pass, not yet tested
• Untested — a fresh zone from the slow (more significant) fractal pass, not yet tested
• Verified — price has returned to the zone and respected it at least once
• Proven — price has respected the zone three or more times
• Turncoat — a zone that flipped sides, meaning old support is now acting as resistance, or the reverse

Zones that overlap get merged into one, and zones that get decisively broken through are removed from the chart automatically, so you’re not left staring at dead levels.

Key Features

• Automatic zone detection — no manual drawing required
• Five-tier strength grading (Weak, Untested, Verified, Proven, Turncoat) so you can tell a fresh guess from a level price has genuinely respected
• Automatic zone merging when levels overlap
• On-chart labels showing each zone’s strength and how many times it’s been tested
• Optional popup and sound alerts when price enters a zone
• Fully configurable zone colors, line width, and label position

How to Use It

After installing (see the download section above), drag the indicator onto any chart. By default it scans back 1,000 bars and plots every surviving zone with a strength label. The two inputs that matter most when you’re getting started are fractal_fast_factor and fractal_slow_factor — raise them and the indicator will plot fewer, more significant zones; lower them and you’ll get more zones, including minor ones. If your chart feels cluttered, turn off zone_show_weak and zone_show_untested and you’ll only see zones that have already proven themselves against real price action.

For active monitoring, turn on zone_show_alerts — you’ll get a popup and/or sound the moment price trades into any zone, which is useful if you’re watching multiple pairs and don’t want to sit on one chart all session.

Best Use Cases

Because zone strength is graded rather than binary, this indicator works well as a filter rather than a standalone signal — treat a fresh “Weak” zone with more caution than a “Proven” one that’s already survived three tests. It’s built as a chart-window overlay, so it works across any timeframe from M15 up to daily charts; the higher the timeframe, the more significant (and slower-forming) the zones tend to be.

Final Thoughts

If you’ve ever manually drawn support and resistance lines and then had to guess how reliable each one actually is, this indicator automates exactly that judgment call — it tracks the test history for you and updates the grading as new price action comes in, instead of leaving you with static lines that never get reassessed.