Angled Volume Profile [Trendoscope]

Volume profile is useful tool to understand the demand and supply zones on horizontal level. But, what if you want to measure the volume levels over trend line? In trending markets, the feature to measure volume over angled levels can be very useful for traders who use these measures. Here is an attempt to provide such tool.

🎲 How to use

🎯 Interactive input for selecting starting point and angle.
Upon loading the script, you will be prompted to select
  • Start time and price - this is a point which you can select by moving the maroon highlighted label.
  • End price - though this is shown as maroon bullet, this is price only input. Hence, when you click on the bullet, a horizontal line will appear. Users can move the line to use different End price.

Start and End price are used for identifying the angle at which volume profile need to be calculated. Whereas start time is used as starting time of the volume profile. Last bar of the chart is considered as ending bar.

🎯 Other settings.

From settings, users can select the colour of volume profile and style. Step multiplier defines the distance at which the profile lines needs to be drawn. Higher multiplier leads to less dense profile lines whereas lower multiplier leads to higher density of profile lines.

🎲 Limitations

🎯 Max 500 lines
Pinescript only allows max 500 lines on an indicator. Due to this, if we set very low multiplier - this can lead to more than 500 profile lines. Due to this some lines can get removed.

On the contrary, if multiplier is too high, then you will see very few lines which may not be meaningful.
Hence, it is important to select optimal multiplier based on your timeframe

🎯 No updates on new bar
Since the profile can spawn many bars, it is not possible to recalculate the whole volume profile when price creates new bars. Hence, there will not be visual update when new bars are created. But, to update the chart, users only need to make another movement of Start or ending point on interactive input.

Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?