NSND MT4 Indicator

The NSND (No Demand No Supply) indicator is a volume spread indicator (VSA) that measures the lack of demand or lack of supply in the market, indicating an imminent reversal or change in trend. It is very similar to the leledc exhaustion bar, except that the NSND indicator incorporates volume into its analysis too.

How does it work?

The indicator predicts reversals based on volume spread analysis (VSA).

A Red arrow indicates price is moving higher, or there is a pause in the down trend.

A Yellow arrow indicates price is moving lower, or there is a pause in the uptrend.

**Note the indicator only prints once price has closed above/below the bar showing a lack of supply or demand based on volume. 

I have also included an NSND alert indicator that will alert you when there is a potential weakness in supply or demand based on volume, followed by a confirmed no supply or no demand scenario when price has closed above the high/low of the bar that showed a lack of supply/demand

I usually combine the NSND indicator with a moving average and trade signals only with the trend.

Here’s a screenshot of it in action:

NSND indicator

Download it: NSND Indicator

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40 thoughts on “NSND MT4 Indicator

  1. John

    It seems like this NSDN doesn’t paint until 3 to 5 bars have passed. What is a good strategy for this indicator and on what time frame. I don’t think I am getting it. Thanks,

  2. Team ATG Post author

    Hey John,

    NSND only paints when price has closed above/below the high/low of the bar that triggered it. So in your case, NSND did not paint until 3 to 5 bars later because price closed above or below the ‘volume trigger’ bar only 3 to 5 bars later.

    I would use it together with price action and support and resistance strategies.

    Best regards,
    Team ATG

    1. Steve Tang

      Hi Team ATG,

      I would also like to know what’s strategy you are using with this NSND indicator because NSND only paints until 3 to 5 bars later. It seems that the signal delay, How to use it properly? Thanks


      1. Team ATG Post author

        Hi Steve,

        No worries. Actually I would prefer to use the NSND Volume bars indicator instead of the arrows, because the coloured volume bars appear early. They give me a early ‘warning’ if the momentum is slowing.
        I use it in combination with intraday support and resistance (for eg. high of the day, high of yesterday, or high of the week)

        If price is moving towards the high of the day/yesterday/week, and red volume bars start showing, it would give me more confidence that the trend is slowing, and it could be advantageous to short, rather than shorting blindly at resistance, without any slowing down of momentum/volume.

        1. Mathan

          Hi Team ATG,

          Could you share NSND volume bars indicator that you mentioned in this comment?

  3. Andrew

    Hi Team ATG,

    Thanks for the indicator, it’s quite handy. I’ve studied VSA for quite a while and it’s good to have something (as an indicator) to reinforce the thoughts. There’s a few other more detailed VSA type MT4 indicators but I’ve found they clog up the charts too much.

    Have you found the VSA/indicator to be more accurate for a particular pair and timeframe?

    What’s the difference between a light and ‘normal’ colour arrow?



  4. Team ATG Post author

    Hey Andrew,

    Thanks for dropping by!

    The Red arrows have an added ‘bearish’ condition.

    This is the logic and code –> if volume conditions are met, etc, AND if(High[i]-Close[i]>Open[i]-Low[i]) –> draw red arrow. Else draw pink arrow.

    Basically this line of code if(High[i]-Close[i]>Open[i]-Low[i]) looks for bearish candles such as a inverted hammer. *try to imagine how the code would look like in a candle format*

    Likewise, the Green candles have an added ‘bullish candle’ condition as compared to the light green candles.

    Once again this is the logic and code for the green arrows: if volume conditions are met, etc, AND if(High[i]-Open[i] draw Green arrow. Else draw light green arrow.

    In summary, the Green arrows and the Red arrows are supposed to give ‘stronger’ signals as compared to the light green and pink arrows.

    Personally I like to use them on 1 hour time frames, as there is less noise and the signals are more reliable. However, I do use other strategies as well such as fibonacci retracements and expansions and I use VSA as a confirmation.

  5. MadaForex

    Just want to thank you for this.

    Ps : I want to change “V” shape arrow to “normal” arrow. How can i do this in the code please.


  6. Peter

    A “no demand” bar should have a close away from the top and vice versa for a “no supply” bar. This is not always the case when using the indicator…


    .i am ajithkumar from india.Please send me the arrow version instead of v symbol

  8. James Phuc

    Hi Team ATG,

    This indicator is great. Could you please kindly send the arrow version to my email address: [email protected] ?

    Also, there is no ex4 file in this zip file. Will mql4 work normally with the latest build of MT4 platform? Please kindly send me the ex4 file as well.

    + By the way, do you trade with any ea currently? Please advise any reliable ea that you know. Thanks.

    Thanks a lot, and have a nice weekend !


  9. Roy Adams

    Wonderful indicator, great work done. Thanks for your hard work. Could I get the indicator with the arrow version.

    I am truly grateful for this

  10. Sheldon

    Hello Team ATG..

    This is a great indy…Have you ever looked at Vol spike on low spread candles? Is this something you could add to this awesome indy along with arrows and color options.


  11. Pingback: New Favicon and indicator added! | Abundance Trading Group

  12. janfx

    Great Indicator .works great with S?R levels . What I can suggest to improve the indicator is use the arrow for confirmations and a circled dot sign to show the potentials movement . the reason is the trade can make a track of potential movements for the very next opening candle . i.e

    1hr TF-
    3am candle gives a circled dot in the chart (a Potential be ready for a tradee )
    4am candle gives a arrow mark saying the potential is confirmed .

    summary is that we can make ourself prepared at 3am to do the analysis on other time frames to target the exit points .

    it would be great if the mention feature is added to the indicator.

  13. Rob Taylor

    Hi Team ATG. I think it would be better if the indicator highlighted the NS ND candles as soon as they close.

    Only painting them after a close above or below is too late imo.

    I know a lot of traders like to wait for a close above or below for confirmation, but if you know what you are looking for you don’t need to wait to confirmation.

    If you can edit the code to reflect this it would be more beneficial to me and my guys for sure.

    Regards. 🙂

  14. Michael

    Hello everyone,
    could you tell me how to rearrange the code to Rob Taylor’s suggestion concerning signal just ND NS after candle close ?

    Would be a problem to prepere MultiTimeFrame version of that indicator. I thought it could help to search better entrance after pull back on lower time frames 🙂


  15. Vincent

    I tried to put the indicator on a renko chart (Offline chart M2 using an EA on M1) put i do not see any arrow.. is there a way to modify the indi to use it on renko chart ?

  16. peter

    Hi Team ATG

    Thanks for the great indie. Is it possible to get it to send the alerts out as emails (my MT4 email setting work for test) or does the code need modifying to do this. If it is then where do I set it?


  17. mike

    Hi Team ATG, awesome indicators!
    Could you add an alert function to this please. thanks!

  18. Bernardito Deogaygay

    Hi Team ATG,
    Thanks for this wonderful indicator. I just would like to know what is the
    NSNDcount variable for. Whenever I change the value, the arrows change.
    I can not follow the logic that involves this variable.
    Thanks a heap

  19. Muhammad Aurang Zaib Chaudhry

    Hi ,,, Did not find the download link ,,So please send me Arrow version of NSND indicator to me Or send me advise .

    Thanks in Advance .


  20. Andrew

    Did anybody manage to alter the code so it paints right after candle close?
    Again I am also looking for this in certain areas and don’t need to wait for confirmation.

    Many Thanks

  21. james kimwolo

    “e-books that teaches price action trading in its entirety” Hi Team ATG! as you mentioned about price action e-book, it downed on my mind that i need these books to literally understand the idear behind price action. Please, as a matter of concern, guide me on these best e-books about price action discourse. I will appreciate your help. thanks, reguards james

    1. Team ATG Post author

      Hi hema,

      Please see downloads section at the bottom of this article. I have made the arrow version available for download too

      Kind regards,
      Team ATG

  22. Stephen

    Hi, Team ATG. I would like to have the arrow version of NSND indicator, please. Thank you!

    1. Team ATG Post author

      Hi Stephen,

      Please see downloads section at the bottom of this article. I have made the arrow version available for download too

      Kind regards,
      Team ATG

  23. Azhar


    I need an arrow painting immediate after closing of the candle , can you please code it?
    I will be very thankful to you 🙂


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