Supply and Demand Dashboard Pro is a trading tool that helps traders identify key areas of supply and demand in the market. It uses advanced algorithms and data analysis to provide real-time information on market trends, allowing traders to make more informed trading decisions. In this article, we will explore the features of Supply and Demand Dashboard Pro and how it may be used in your trading strategies.
What is the Supply And Demand Dashboard Pro?
The Supply and Demand Dashboard Pro is a trading tool that provides traders with a comprehensive view of potential supply and demand zones in the forex market. This indicator was specifically designed for use with the MetaTrader 4 platform and can be used on multiple symbols and timeframes. The dashboard is equipped with advanced features that include filtered supply and demand values, pip distances to and within zones, and zone strength rating. One of the key features of the dashboard is its ability to display blue and red arrows to indicate strong buying and selling zones based on supply and demand principles. The dashboard is also highly configurable to meet the individual needs of traders. In addition, the dashboard offers various types of alerts, which include when a new zone appears, when the asset price enters or leaves a zone, and when a zone is broken. Overall, the Supply and Demand Dashboard Pro is a reliable and valuable tool for traders who are looking to make informed trading decisions based on supply and demand principles.
Supply And Demand Dashboard Pro Strategy
To use this tool , the first step is to scan the dashboard for currency pairs that are showing strong supply and demand levels. These levels are indicated by value and red arrows on the dashboard, and they represent key areas where the market is likely to reverse or continue its trend. Once you have identified these levels, you should look for price action at these levels, such as a reversal candlestick pattern or a breakout from the level. If the demand or supply zone is a strong one, you can enter a trade based on the appearance of the arrows and the opacity of the color of the zone.
One of the most important features of the Supply And Demand Dashboard Pro is that it also shows you the best place to place your stop loss and take profit. This means that you can manage your trades more effectively and reduce your risk. It is important to note that while the dashboard can provide valuable insights into potential trading opportunities, it should be used in conjunction with other technical and fundamental analysis tools to make informed trading decisions.
Buy Signal
- Look for a currency pair that has a strong demand zone with a blue upward arrow on the chart.
- Wait for price action at the demand zone, such as a bullish candlestick pattern or a breakout.
- Enter a long position once the above conditions are met.
- Set a stop loss a few pips below the demand zone or according to your money management strategy.
- Take profit at the next supply zone or at a predetermined target.
Sell Signal
- Look for a currency pair that has a strong supply zone with a red downward arrow on the chart.
- Wait for price action at the supply zone, such as a bearish candlestick pattern or a breakout.
- Enter a short position once the above conditions are met.
- Set a stop loss a few pips above the supply zone or according to your money management strategy.
- Take profit at the next demand zone or at a predetermined target.
Supply And Demand Dashboard Pro Pros & Cons
Pros
- The dashboard has multiple alert options, including alerts for new zones appearing, asset price entering or leaving a zone, and when a zone is broken.
- Once a supply-demand forms, Supply Demand Dashboard will also show the best place to place stop loss and take profit.
- The dashboard shows filtered supply and demand values, including zone strength rating, pips distances to/and within zones, and highlights nested zones.
Cons
- The Supply And Demand Dashboard Pro may require some time and effort to learn and understand its features and functions.
- The system may not be suitable for beginner traders who may find the interface overwhelming.
- The system may provide false signals at times, especially during periods of low liquidity or volatility.
Conclusion
In conclusion, the Supply and Demand Dashboard Pro is a powerful and versatile trading tool that provides traders with a comprehensive view of the market. It is equipped with advanced features that make it easier to identify potential supply and demand zones, helping traders make informed trading decisions. The system is highly configurable, allowing traders to customize it to their personal needs. However, like any trading tool, it has its pros and cons. It is important for traders to understand these before deciding whether to use them in their trading strategy.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
