Introduction
Ah, the Supply Demand Ranger—another Forex trading robot promising to make your trading life easier. Developed by Krzysztof Janusz Stankiewic, this indicator is designed to draw supply and demand zones on your charts. With a perfect rating of 5, it seems to have impressed quite a few traders. But does it live up to the hype? Let's dive in and find out.Installation and Setup
Installing the Supply Demand Ranger is straightforward. Follow these steps:- Download the indicator from here.
- Open MetaTrader 5 and go to File > Open Data Folder.
- Navigate to MQL5 > Indicators and paste the downloaded file.
- Restart MetaTrader 5.
- Attach the indicator to your chart by going to Insert > Indicators > Custom > Supply Demand Ranger.
Once installed, you can customize the settings:
- Zone Timeframe: Set the timeframe for the zones independently of the chart timeframe.
- Zone Strength: Adjust the importance of the zones.
User Experience
User reviews are generally positive. Karolina Merchel mentioned that the indicator initially didn't work as expected but improved significantly after adjustments. Another user, inkja, found it simple and effective. While these reviews are encouraging, it's essential to remember that no indicator is perfect. Always test it on a demo account before going live.Tips for Improvement
To get the most out of the Supply Demand Ranger, consider the following tips:- Combine with Other Indicators: Use it alongside moving averages or RSI for better signal confirmation.
- Adjust Zone Strength: Tweak the zone strength parameter to suit your trading style.
- Backtest: Always backtest the indicator on historical data to understand its performance.
Source Code of Supply Demand Ranger
We don't have access to the original source code of the Supply Demand Ranger sold on MQL5. However, we can create a similar code based on its description. If you have any questions about the code, feel free to ask. This example code is provided by easytradingforum.com and is based on the description of the Supply Demand Ranger.
Code:
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