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No Demand No Supply

This indicator identifies No Demand –No Supply candles to your chart and plots volume bars colored according to the signal. It can be applied to all timeframes or to a specific one only.

Furthermore is has an alert notification, sound and email when a signals occurs.

The VSA (Volume Spread Analysis) definition for No Demand and No supply is as follows:

No Demand (no buyers-potential short position):

The Volume within the candle formation again has to be lower than the volume of the previous 2 candles.

The candle has to close bullish (green body).

There has to be some sort of rejection (pin or wick) at the high of the candle.

If the candle closed at the top it would not be a no supply candle.

No Supply (no sellers-potential long position):

The Volume within the candle formation has to be lower than the volume of the previous 2 candles.

The candle has to close bearish (red body).

There has to be some sort of rejection (pin or wick) at the low of the candle.

If the candle closed at the bottom it would not be a no supply candle.


Parameters

Format Labels

  • TimeFrame: Specify a specific timeframe in minutes (5,15,60, etc.) or 0 to be applied to all timeframes
  • ShowLabels: Show NS and ND labels, true or false;
  • LabelShift: Label shift above and below bars in points
  • FontSize: Font size of labels
  • FontColorNS: Color of No Supply label
  • FontColorND: Color of No Demand label

Alert Parameters

  • EnableNativeAlerts: Popup window
  • EnableSoundAlerts: Sound alert
  • EnableEmailAlerts: Sends email
  • SoundFileName: The sound file for sound alert "alert.wav"

Current candle must close in order to provide the alert

Aravind
3012
Aravind 2018.10.22 22:59 
 

Good. Better to use on higher timeframe.

Version 1.1 2018.08.27
Fixed a bug on the alert functions that was missing some signals.