Smart Scanners › 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.
Where the definitions disagree
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.
| Timeframe | Bars of history it reads | Settings | Events, last 30 days |
|---|---|---|---|
| M15 | 120 | — | 181 |
| M30 | 120 | — | 115 |
| H1 | 120 | — | 40 |
| H4 | 120 | — | 10 |
| D1 | 120 | — | 0 |