No Supply No Demand arrows
- Indicatori
- Versione: 1.0
- Attivazioni: 5
No Supply No Demand VSA Indicator - Description for MQL5 Market
Description
No Supply No Demand is a volume spread analysis indicator for MetaTrader 5 based on classic Wyckoff VSA concepts. It automatically scans price bars for two specific candle patterns that signal a possible pause or reversal in the current move, and marks them directly on the chart with simple arrow symbols.
A No Demand bar is a bullish candle that closes with low volume and a wick on both ends, appearing after the price has already tested lower without yet closing above the current bar. This suggests buyers are not stepping in with real strength. It is marked with a red v symbol above the bar.
A No Supply bar is a bearish candle that closes with low volume and a wick on both ends, appearing after the price has already tested higher without yet closing below the current bar. This suggests sellers are not stepping in with real strength. It is marked with a green up arrow symbol at the bar low.
Both patterns are confirmed using a configurable look back period, so a signal only appears once the pattern has been validated against recent closes, not just on shape alone.
Specifications
Detects No Demand bars, bullish, low volume, pin shaped, marked with a red v above the bar.
Detects No Supply bars, bearish, low volume, pin shaped, marked with a green up arrow at the bar low.
Look back period for confirming each pattern is adjustable through the NSNDcount input.
Number of historical bars scanned is adjustable through the barcount input.
Works on any symbol and any timeframe.
Automatically redraws when the chart is scrolled or the price scale changes, so labels always stay aligned to the correct bars.
Does not repaint confirmed signals, each label is tied to a specific bar and time.
Lightweight, uses simple chart text objects rather than a full indicator buffer, so it has minimal impact on performance.
Recommended use
This indicator is a visual aid for spotting weakness in buying or selling pressure using volume and price action. It does not generate trade signals or place orders on its own. It is intended to be used alongside a trader's own analysis, support and resistance levels, or other confirmation tools.
