Level Scope › Volume and spread

No Demand

An up bar — closing higher than the bar behind it — on volume lower than each of the two previous bars. Tom Williams' Signs of Weakness, principle 5.

What it looks like on a chart

A mark under the bar itself. There is no level to draw: the event is the bar.

Settings, as they are actually applied on each timeframe. A dash means this scanner emits no settings string. Where a number differs by timeframe, that is a span of chart time resolved into bars.
Timeframe	Bars of history it reads	Settings	Events, last 30 days
M15	120	—	174
M30	120	—	112
H1	120	—	40
H4	120	—	10
D1	120	—	0

What we measured

Nothing of our own attached.

What it does not claim

Note what the canonical source does not require: a narrow spread. Every secondary source adds one, and adding it would make this a different and rarer object. Direction is close versus previous close, which is what the text says — not close versus open, which is what three of the coded versions use. And volume here is a count of quote updates, not traded size: spot FX has no exchange volume.

Where the definition comes from

TradeGuider SOW principle 5, with the background the same source requires

Show No Demand on a chart