The histogram is used by traders to predict areas of support and resistance. Price levels where the traded volume is high could be assumed as support and resistance levels.
Price may experience difficulty moving above or below areas with large bars. Usually there is a great deal of activity on both the buy and sell side and the market stays at that price level for a great deal of time
It is advised to use volume profile in conjunction with other forms of technical analysis to maximize the odds of success
Light version of Volume Profile is added to Price Action - Support & Resistance by DGT
added volume indicator on top of the chart
* volume represents all the recorded trades for a security that occurs in a given time interval. It is a measurement of the participation, enthusiasm, and interest in a given security.
added price labels for point of control, lowest/highest price of the range
thanks @TMK2 for your valuable suggestion
green rows indicates higher bull trading activities and conversly red rows indicate higher bear trading activities.
row widths emphasis the strength, the wider the stronger. narrow rows can be interpreted as equilibrium between bull and bear trading activity
similar consept application can be found in Elder-Ray Bear and Bull Power )
special thanks to @DeeJayNast for his valuable suggestion
Instead of specifying lookback length value from input widgets, you can now select locations of your interest by clicking on the chart. Just as with the drawing tool simply drag the line, that apears on the chart when clicked on the indicator plotting area, to whereever you need to position the starting point of calculations
please note, while switch between timeframes you may need to adjust the location in case the plotting is damaged
* alert added when Price touches/crosses Point Of Control Line, note that this may result with many alerts triggered when price hovers around the PoC Line
* vertical offset is added for volume histogrm
Please check Anchored-Volume-Profile for different perspective of Volume Profile
Different perspective of Volume Profile applications;
Custom Range, Interactive : Volume-Profile-Custom-Range
Anchored to Session, Week, Month etc : Anchored-Volume-Profile
Combined with Support and Resistance Indictor : Price-Action-Support-Resistance
Combined with Supply and Demand Zones, Interactive : : Supply-Demand-and-Equilibrium-Zones
thanks to everyone who presented their valuable suggestions
When visibale range is selected, then as the user zooms on their chart – causing the range of visible bars on the chart to change – the script will automatically re-calculate and visuals can adapt to the new context
🔹 core functionality enhancements
- usage of lower timeframe data: added the ability to benefit from lower timeframe data, hence allowing to increase the accuracy of the created profiles
- introduced new pine features: to increase the efficiency of the scripts, such as replacing lines with polylines to overcome pine line drawing limits, replacing individual components with types to group related components within the same type
🔹 new features of the indicator
- supply and demand zones
- developing point of control
- new polarity method: buying/selling pressure
and some other enchantments requested/reported by the users. thanks to all for sharing their valuable comments to make this script even better
volume profile is a charting tool that truly does have a wide array of uses. the data that is provided by the volume profile is indisputable, leaving it to the trader to find new and creative ways to use it.
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.
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.