The Best Supply And Demand Indicator For MT4

Supply and demand indicators are all the rage these days, but finding one that actually identifies and marks the right zones.

That’s easier said than done.

Or, at least, it was…

Enter: Sup Dem V2

Sup Dem V2 is a simple indicator that automatically finds and marks supply and demand zones.

So… just like like most other S & D indicators, then?

Well, yes, but the difference is Sup Dem is the ONLY supply and demand indicator that identifies the right zones and marks them correctly on the chart. It also packs a bucket load of cool, useful features, which most other S & D indicators lack.

Here’s a quick look…

  • Display zones on specific timeframes.
  • Change colours of supply and demand zones.
  • Switch zone colour upon being touched.
  • Play alerts when price reaches a zone.

… plus much, much more.

You can download Sup Dem V2 below.

Download the file onto your PC – ignore any virus warnings, they’re fake – and follow the instructions given later to install it on MT4.

Important: Sup Dem is currently only compatible with MT4. If you use MT5 or other charting platforms, you must find a different supply and demand indicator or learn how to find/draw the zones yourself.

Check my supply and demand guide for a full breakdown.

Sup Dem V2 Download (12337 downloads)

So, ready to learn how to install and use Sup Dem in your trading?

Let’s jump in…

Why Sup-Dem V2 Is The Best Supply And Demand Indicator

In my time trading, I’ve seen and used A LOT of supply and demand indicators… some good, some bad, some so terrible they’re not even worth mentioning

– I’m looking at you Shived_Supply And Demand.

But, of all the indicators I’ve used, Sup Dem V2 is easily the best.

Sup Dem V2 may not include all the advanced features some other supply and demand indicators do, but it gets one thing right that almost no other indicator does:

It finds and marks the zones correctly.

Sup Dem is the only S & D indicator I’ve come across that finds the right zones and marks them according to the correct rules of supply and demand.

See for yourself…

Notice how the indicator marks the zones using the same parameters we do?

  • From the swing low/high,
  • Up to the open/close of the candle,
  • Before price takes off and moves away.

Heck, looks like I marked the zones myself!

Naturally, there are some limitations – see zone 3?

Sup Dem doesn’t include the drop away from the zone, which means the supply isn’t marked correctly. In the future, this zone could cause us problems – price may reverse before touching the zone, so we’ll unforutnatly miss the trade.

But hey, it’s no big deal…

The other zones all check out, and 3 out of 4 ain’t bad – it is an indicator, after all.

Sup Dem also identifies many of the strongest zones… to a point.

There are some it misses, like zone 2, which is a decent zone.

But again, we can’t expect the indicator to be perfect.

Installing Sup-Dem VS Supply And Demand Indicator To MT4

Getting Sup Dem setup with MT4 is really simple, and only takes a minute.

If you’ve installed any other indicators before, the process is basically the same:

  1. Download the files,
  2. Open up the “Data” folder,
  3. And drop them inside.

… you know the score.

If you know what to do, skip ahead to learn how to use the cool features of Sup Dem supply and demand indicator.

For those who need help, here’s a quick guide on getting the indicator set up.

Step 1: Open Up The Data Folder

So, to install Sup Dem to MT4, you first need to open the “Data” folder.

The easiest way to do this is to open MT4, head to “File” in the top menu, then select “Data Folder” from the drop-down list.


The folder should open up in front of you.

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

With the folder open, click the “MQL4” folder within and navigate to the “Indicators” folder. Open it, and you’ll see all the indicator files.

Drop Sup Dem.ex4 in here and restart MT4.

Step 3: Check If The Indicator Works

Now, it’s time to check if Sup Dem is installed properly and actually works.

First, add Sup Dem to the chart.

Head over to the “Insert” tab and hover over “Indicators”.

Now scroll over “Custom”…

Sup Dem should be somewhere in the middle, roughly halfway down the list.

Click the indicator to add it to the chart, and…

A small pop-up box should appear.

From here, you can change the settings of Sup Dem, and enable the cool features it has – we’ll cover these in a minute, stick tight.

For now, click “Okay” to head back to the chart screen.

If the indicator is working correctly, a bunch of zones should appear on the chart.

And with that, Sup Dem is ready to go!

If you don’t see the zones, the indicator isn’t working properly. Something has gone wrong with the installation. It could be a problem with MT4 – which I can’t fix – but it’s probably because you’ve installed the file in the wrong place.

Remember: The Sup Dem.ex4 file MUST go in the “INDCIATORS” folder inside the data folder.

Put it in a different folder… the indicator won’t work properly; the zones won’t show.

So, double check if the file is in the right folder if you can’t see the zones.

How To Use The Sup-Dem Supply And Demand Indicator

Back when I used original Sup Dem many years ago, the only features it had were the option to change zone colours. However, with the V2 release, a TON of additional features have been added all designed to make your life easier trading the zones.

Here’s a small look at what you can do…

Key Point: To enable/disable different features of Sup Dem, you must open the settings menu.

Open the menu by clicking “Charts” at the top and selecting “Indicator List”. Inside the menu, hit the Sup Dem indicator, and select “Edit” from the menu.

The settings menu should open on the chart screen.

Setting Alerts

If you hate missing the entry into supply and demand trade, you’re going to LOVE this feature.

Sup Dem has a built-in zone alerts, which makes a sound whenever price touches a zone. This’ll give you a little wake-up call, so you know it’s time to watch for a trade entry.

To enable alerts, find the “AlertOn” setting in the menu.

Change this to “True” inside the box.

The option below “AlertPopup” is also worth turning on – a small popup box will show when price touches the zone alerting you price has reached the zone.

If you like, you can also change the alert sound using the “Alert Sound” setting.

Useful – No.

But cool… definitely.

Here’s what the pop up box looks like…

Time, pair, zone, and price all appear inside the box.

Click inside, and it’ll take you to the zone price has hit.

Pretty neat, right?

Important Note: See how it says “Fake Demand” or “Fake Supply” in the box?

Sup Dem designates some zones as fake, based on where they form.

However, these zones are NOT fake – Sup Dem gets it wrong!

If you see this message, just ignore it – it’s not correct.

The zone is still 100% valid for trading.

Change Touched/Untouched Zone Colour

Knowing whether price has touched a zone, especially if it formed in the past and isn’t visible on the current price action, is extremely annoying when trading supply and demand.

I’m you sure you guys would, agree?

With Sup Dem, however, it’s not a problem…

It changes touched zones to a different colour, making them easy to spot.

All you need to do change a couple of settings.

Here’s how…

First, make sure the following settings are enabled.

They should be by default, but double check to make sure.

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

Also… set “Recolour Weak Retouch” to false.

It changes the zone colour based on whether the touch was weak or strong – not useful!

Touches don’t come in “Weak” and “Strong” forms; either price touches the zone or it doesn’t!

So, keep this turned off… otherwise you’ll get confused with what zones have/haven’t been touched.

Now for the colours…

Solid Zones = True

Solid Retouch = True

Recolour Retouch = True.

Also… set “Recolour Weak Retouch” to false.

It causes the colour of the zone to change based on whether the touch was weak or strong – not something you want. Touches don’t come in “Weak” and “Strong” forms; either price touches the zone or it doesn’t!

So, keep this turned of… otherwise you’ll get confused with what zones have/haven’t been touched.

Now for the colours…

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

Change these to whatever you fancy; but remember:

KEEP: “Strong” and “Weak” options the SAME colour.

Sup Dem automatically determines what is/isn’t a strong or weak zone, which isn’t correct.

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

Be sure to change the “Retouch” options too…

That’ll ensure the zone changes colour once touched, making it easy to spot.

Only See Zones On Certain Timeframes

Another handy little feature, Sup Dem also allows you to select which timeframe zones display on. For example, if you want to see 1-hour zones on the 5 minute chart, this lets you do that.

Simply head to the bottom of the menu…

Then enable/disable whichever timeframes you want zones to appear on.


What About Tradingview Supply And Demand Indicators?

For those wondering whether Tradingview has any supply and demand indicators, I’m afraid the answer is a big fat…

NO – sorry, guys!

Supply and demand indicators are on the platform, but none of them mark zones anything close to like what we see with the MT4/5 indicators. Most don’t use zones at all! Instead, they use weird lines or letters, which rarerly, if ever, identify any correct zones.

Take the indicator below, for example…

Weird as heck, right?

I mean, it’s found some zones… a few at least. 

But look closer… most aren’t even proper supply and demand zones! And the others, the ones that are normal, aren’t high probability zones. Just check the zones marked SZ down the left-hand side.

I mean, what even are those?

On Tradingview, this is what to expect.

I’ve tested dozens of Tradingview S&D indicators, both free & premium.

Of those, ZERO could identify and mark supply and demand zones correctly. It’s super strange too. In its current format, I don’t think Tradingview can handle zone indicators because I couldn’t find a single one that marked the zones using zones.

So… be wary of Tradingview S&D indicators.

YES, they exist.

But NO, they don’t work.

Use them at your peril!

Your Questions Answered!

Before we end, here are some of the most common questions I get asked about Sup Dem supply and demand indicators, along with their answers.

Q: Does Sup Dem Work With MT5?

A: No, unfortunately.

As of right now, Sup Dem only works with MT4. That may change soon, but at the moment, it’s MT4 only. Some supply and demand indicators are available for MT5; however, none I’ve seen mark the zones the right way as Sup Dem does.

Q: Is Sup Dem The Most Accurate S&D Indicator

A: In my opinion, YES.

While it’s not 100% accurate by any means, Sup Dem identifies most of the same supply and demand zones I find using manual analysis. And it marks them correctly, which is not something most supply and demand indicators get right.

Q: Is Sup Dem Free To Download

A: Yes – the link is in the intro!

Sup Dem is free to download and use for however long you like. Updates sometimes come, which can be hard to find, but none cost money to install. I’ll update the link in the intro whenever a new version comes out.


You’ll never find a supply or demand indicator that substitutes for real skills – it doesn’t exist! Sup Dem V2, however, comes pretty darn close… the closest I’ve ever seen.

It’s not perfect, sure – it has its flaws, like every indicator.

But, it does a great job, and is a huge help if you’re a newbie.

Remember: Get in touch if you have any problems installing or using Sup Dem.

I didn’t create the indicator, so I can’t fix all problems, but I can help you out with the easy stuff – installing to MT4, setting up alerts, changing colours, etc.

Just shoot me an email, and I’ll get back to you ASAP.

13 thoughts on “The Best Supply And Demand Indicator For MT4”

    1. Not that I’m aware of, Lumz. I think there are S & D indicators for MT5, but I’m not sure if Sup-dem is one of them. I couldn’t find a MT5 version when I checked, so I assume not right now.

    1. Unfortunately not, Ron. I think there are S & D indicators for MT5, but none I’ve actually tested myself.

  1. Excellent stuff – really helping me to understand how these zones are formed. I’m working what I think they are manually, then checking with this – pleased to say I’m getting a lot better – thank you.

  2. Liam, I just downloaded the version of SupDem V2 and although this appears to be a good indicator it does not refresh with each tick/bar and I find that I have to reload this each time from my template. Is there a way to resolve this issue. I also do not have the source code so cannot make any possible changes to the code itself.

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