This code is a sample implementation of a demand and supply diagram for MetaTrader 5 (MT5). It analyzes the price and volume data to generate trading signals and identify market conditions such as excess demand, excess supply, no demand, and no supply. The code also includes functions for monitoring the sequence of signals, calculating the elasticity of demand/supply to the price, and displaying confirmation messages for buy and sell points.
period(default: 14): The period for price/volume analysis.
The GenerateSignals function is responsible for generating trading signals based on the price and volume values. You can implement your own logic in this function. It should return true if a signal is generated and false otherwise.
The IsExcessDemand and IsExcessSupply functions detect excess demand and excess supply based on the price and volume values. You can implement your own logic in these functions. They should return true if there is excess demand/supply and false otherwise.
The IsNoDemand and IsNoSupply functions identify no demand and no supply based on the price and volume values. You can implement your own logic in these functions. They should return true if there is no demand/supply and false otherwise.
The DisplaySellArea and DisplayBuyArea functions are responsible for displaying warning messages for the 'Sell area' and 'Buy area' respectively. You can implement your own logic in these functions.
The IsSignalSequenceValid function checks the sequence of signals and determines if it is valid. You can implement your own logic in this function. It should return true if the sequence is valid and false otherwise.
The CalculateElasticity function calculates the elasticity of demand/supply to the price. You can implement your own logic in this function. It should return the calculated elasticity value.
The DisplayConfirmationMessage function displays a confirmation message for buy and sell points. If the isBuyPoint parameter is true, it will display 'Buy point', otherwise it will display 'Sell point'. You can implement your own logic in this function.
The CustomizeInputs function is responsible for customizing the input variables. You can implement your own logic in this function.
The expert functions OnInit, OnDeinit, and OnTick are the entry points for the expert advisor. The OnInit function is called during initialization and can be used for customization. The OnDeinit function is called during deinitialization and can be used for cleanup tasks. The OnTick function is called on each tick and is where the main trading logic is implemented.
This code serves as a sample implementation of a demand and supply diagram for MetaTrader 5 (MT5). It analyzes price and volume data to generate trading signals and identify market conditions such as excess demand, excess supply, no demand, and no supply.
By using this code, traders can enhance their forex trading success by utilizing the principles of supply and demand analysis. The code provides customizable input variables and allows traders to implement their own logic for generating signals, detecting market conditions, monitoring signal sequences, calculating elasticity, and displaying confirmation messages.
Please note that ForexRobotEasy is not the official developer of this product. We only provide a sample code that can work as described in this product. For detailed reviews and trading results of this product, please visit the official developer's website at https://forexroboteasy.com/forex-robot-review/demand-and-supply-diagram-mt5-review-enhance-forex-trading-success/. To find the official developer of this product, please refer to MQL5.