Dynamic Volume Profile
The result of standard volume profile is fix for a specified period of time. However, in this script the result is dynamic, because its calculated for every bar. In this script you can see the change of Point of Control, Value Area High and Value Area Low in real time.
Point of Control is the price level for the time period with the highest traded volume.
The area between value area low and value area high (green background) is the area where 70% of traded volume happen. You can customize this percentage value in input section.
Trader can customize input:
Reference:
https://www.tradingview.com/wiki/Volume_Profile
Point of Control is the price level for the time period with the highest traded volume.
The area between value area low and value area high (green background) is the area where 70% of traded volume happen. You can customize this percentage value in input section.
Trader can customize input:
- Period length
- Number of rows
- Percentage of value area
Reference:
https://www.tradingview.com/wiki/Volume_Profile
Notes de version:
Update:
- value area low and value area high calculation
- default input value. now is 30, 30, 70
Notes de version:
update some logic for better result