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. It can also be used as regular volume indicator but with exceptional future of WEIGHTED VOLUME.

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;
• Engulfing Filter: if true signals will be generate when engulfing candle pattern occurs
• 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

Weight Volume Parameters - Weight Volume According to Sessions London-US-Asia. Should be used only in Forex or any other Instrument that when EU+US sessions operating together has the Highest Volumes. (it operates  on 1Hr charts or less)

• Weighted Volume: true/false - Weights volume of  different sessions taking into consideration that when London and US are operating at same time the highest volume of all sessions occurs and adjusts the rest of the sessions. With this parameter it very easy visualize which volumes are significant even on Asian hours or non-significant on London-US hrs.  
• Weight_All_Bars: true/false - If set to true the algorithm will weighted volume considering all bars on chart, if set to false only the numbers of bars specified on "Weight_Specific_Bars" parameters will be considered.
• Weight_Specific Bars: the number of bars that will be considered for the weighted volume calculation.   

alert Parameters

• EnableNativealerts: Popup window
• EnableSoundalerts: Sound alert
• EnableEmailalerts: Sends email
• EnablePushalerts: Push Notification
• SoundFileName: The sound file for sound alert "alert.wav"

Current candle must close in order to provide the alert