hello. I am looking for the EA that displays supply and demand on the mt4 please help
I am no good fan of EA as they usually doubles the trouble in the middle of trading and being coded to follow technical analysis they requires monitoring during the news release period.
Hi Kioko - welcome to the forum.
Strictly speaking, “supply and demand” don’t apply to spot forex.
(Some) people [I]do[/I] widely use those terms in this context, but they haven’t quite thought it through and are using the wrong terminology. They should refer instead to “buying pressure and selling pressure”.
Anyway, whether you refer to it as “supply and demand” or as “buying and selling pressure”, it’s a function of the depth of the market (the money/orders waiting to buy/sell the currency pair at specified prices).
This information is available (in the form of “DOM charts”) for futures and for some other financial products, but [U]not[/U] for spot forex, because there’s no centralised exchange for spot forex, so there would be no way of monitoring or recording it. It’s one of those “terribly obvious, by definition, once you actually think of it” things.
Any broker purporting to offer “information” about this would be doing so only on the basis of [I]their own[/I] customers’ orders and/or those of [I]their own[/I] liquidity providers - it wouldn’t really be “spot forex market supply and demand” at all.