Demarker is an indicator that is very easy to use although it is not well known by many Forex traders.
The basic Demarker indicator also comes with the standard version of MetaTrader 4. The version of the Demarker that we will introduce in this article converts the original Demarker into a multiple timeframes Demarker (MTF).
With this indicator, you can easily perform MTF analysis at once just by taking one look at the chart.
This indicator is suitable for those who trade by looking at various time charts. Using the MTF Demarker eliminates the need to switch charts constantly.
Tips for using:
The most basic use of the Demarker is to place a buy order when the indicator’s value is 30 or less, and to place a sell order when the indicator value is 70 or more. The strategy is quite similar to using the RSI.
As you can see from the above image, the RSI itself is an indicator that is visually quite similar to the Demarker. For this reason, it is a good idea to draw a trend line on the Demarker as in the case of using the RSI. Of course, you can trade by combining the RSI and the Demarker. Demarker-like indicators are also suitable for capturing divergences between the price and the indicator.
The formula :
DeMarker = SMA (DeMarkerMax) [SMA (DeMarkerMax) + SMA (DeMarkerMin)]
• DeMarkerMax: The difference between the previous candlestick high and the current candlestick high
• DeMarkerMin: The difference between the previous candlestick low and the current candlestick low
Download “MTF_DeMarker” from the button below
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