Volume Indicator No Supply No Demand needed

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Frag8383
79
Frag8383  
Hi everyone, 

The indicator that I need may be of help to others that use volume for trading. 

The concept is very simple and typical of VSA traders, is to look for a No Supply or no demand bar to enter a trade. 

That is why I need a indicator that does the following:

No Supply: Down candle and volume below the previous 2 bars- A line will be drawn at the high of the candle
No Demand: Up Candle and volume below the previous 2 bars - A line will be drawn at the low of the candle

If possible it will draw only the last No Supply and No Demand: for example you get a No Supply candle and a line is drawn on the high of the bar and then on the following bar another No Supply candle so the previous candle line will disappear and you will get the line on this candle.
So basically you will have only lines on the last No Supply and No Demand bars.

This is so the chart is clean- if is not possible and the line has to be displayed on all no demand and no supply candles is fine but not as good since the chart will not be as clean.

The line is used because when a bar closes below or above the line of a NS or ND bar is when I enter a trade.
Please let me know if you need further explanations

Thanks
Kind Regards
William Roeder
19631
William Roeder  
Frag8383: look for a No Supply or no demand bar

Until you can state those in concreate terms, it can not be coded.

Hendrikus Vedder
191
Hendrikus Vedder  
Frag8383:
Hi everyone, 

The indicator that I need may be of help to others that use volume for trading. 

The concept is very simple and typical of VSA traders, is to look for a No Supply or no demand bar to enter a trade. 

That is why I need a indicator that does the following:

No Supply: Down candle and volume below the previous 2 bars- A line will be drawn at the high of the candle
No Demand: Up Candle and volume below the previous 2 bars - A line will be drawn at the low of the candle

If possible it will draw only the last No Supply and No Demand: for example you get a No Supply candle and a line is drawn on the high of the bar and then on the following bar another No Supply candle so the previous candle line will disappear and you will get the line on this candle.
So basically you will have only lines on the last No Supply and No Demand bars.

This is so the chart is clean- if is not possible and the line has to be displayed on all no demand and no supply candles is fine but not as good since the chart will not be as clean.

The line is used because when a bar closes below or above the line of a NS or ND bar is when I enter a trade.
Please let me know if you need further explanations

Thanks
Kind Regards

Hello Frag, 

This is an interesting system, do you have web resources where I can see it visually explained?

Greetings,

Henk

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