OPEN-SOURCE SCRIPT
No Supply (Low-Volume Down Bars) — Ido
This indicator flags classic Wyckoff/VSA “No Supply (NS)” events—down bars that print on unusually low volume, suggesting a lack of sellers rather than strong selling pressure. NS often appears near support, LPS, or within re-accumulation ranges as a test before continuation higher.
Signal definition (configurable):
Down bar: choose Close < PrevClose or Close < Open.
Low volume: Volume < SMA(Volume, len) × threshold (e.g., 0.7).
Optional volume lower than the prior two bars (reduces noise).
Optional narrow spread: range (H–L) below its average.
Optional close position: close in the upper half of the bar.
Optional trend filter: only mark NS above or below an EMA (or any).
Optional wide-bar exclusion: skip unusually wide bars.
Visuals & outputs
Blue dot below each NS bar (optional bar tint).
Separate pane showing Relative Volume (vol / volSMA) to gauge effort.
Built-in alertcondition to trigger notifications when NS prints.
Inputs (high level)
lenVol: Volume SMA length.
ratioVol: Volume threshold vs. average (e.g., 0.7 = 70%).
usePrev2: Require volume below each of the prior two bars.
useNarrow + lenRange + ratioRange: Narrow-bar filter.
useClosePos + minClosePos: Close in upper portion of the bar.
downBarMode: Define “down bar” logic.
trendFiltOn, trendLen, trendSide: EMA trend filter.
useWideFilter, lenRangeWide, wideThreshold: Skip wide bars.
How to use (Wyckoff/VSA context)
Treat NS as a test of supply: price dips, but volume is light and close holds up.
Stronger when it prints near support/LPS within a re-accumulation structure.
Confirmation (recommended): within 1–3 bars, see demand—e.g., break above the NS high with expanding volume (above average or above the prior two bars). Many traders place a buy-stop just above the NS high; common stops are below the NS low or the most recent swing low.
Scanning tip
TradingView’s stock screener can’t consume Pine directly.
Use a Watchlist Custom Column that reports “bars since NS” to sort symbols (0 = NS on the latest bar). A companion column script is provided separately.
Notes & limitations
Works on any timeframe (intraday/daily/weekly), but context matters.
Expect false positives around news, gaps, or illiquid symbols—combine with structure (trend, S/R, phases) and risk management.
© moshel — Educational use only; not financial advice.
Signal definition (configurable):
Down bar: choose Close < PrevClose or Close < Open.
Low volume: Volume < SMA(Volume, len) × threshold (e.g., 0.7).
Optional volume lower than the prior two bars (reduces noise).
Optional narrow spread: range (H–L) below its average.
Optional close position: close in the upper half of the bar.
Optional trend filter: only mark NS above or below an EMA (or any).
Optional wide-bar exclusion: skip unusually wide bars.
Visuals & outputs
Blue dot below each NS bar (optional bar tint).
Separate pane showing Relative Volume (vol / volSMA) to gauge effort.
Built-in alertcondition to trigger notifications when NS prints.
Inputs (high level)
lenVol: Volume SMA length.
ratioVol: Volume threshold vs. average (e.g., 0.7 = 70%).
usePrev2: Require volume below each of the prior two bars.
useNarrow + lenRange + ratioRange: Narrow-bar filter.
useClosePos + minClosePos: Close in upper portion of the bar.
downBarMode: Define “down bar” logic.
trendFiltOn, trendLen, trendSide: EMA trend filter.
useWideFilter, lenRangeWide, wideThreshold: Skip wide bars.
How to use (Wyckoff/VSA context)
Treat NS as a test of supply: price dips, but volume is light and close holds up.
Stronger when it prints near support/LPS within a re-accumulation structure.
Confirmation (recommended): within 1–3 bars, see demand—e.g., break above the NS high with expanding volume (above average or above the prior two bars). Many traders place a buy-stop just above the NS high; common stops are below the NS low or the most recent swing low.
Scanning tip
TradingView’s stock screener can’t consume Pine directly.
Use a Watchlist Custom Column that reports “bars since NS” to sort symbols (0 = NS on the latest bar). A companion column script is provided separately.
Notes & limitations
Works on any timeframe (intraday/daily/weekly), but context matters.
Expect false positives around news, gaps, or illiquid symbols—combine with structure (trend, S/R, phases) and risk management.
© moshel — Educational use only; not financial advice.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.