OPEN-SOURCE SCRIPT
Uniform Volume Profile
Updated
Uniform Volume Profile
The volume of a single candlestick is uniformly distributed by its range (high - low) along all the colliding volume profile bars.
For example, if a 10% of a candlestick intersects some volume bar (horizontal line) only the 10% of that candlestick volume will contribute to that profile.
The volume of a single candlestick is uniformly distributed by its range (high - low) along all the colliding volume profile bars.
For example, if a 10% of a candlestick intersects some volume bar (horizontal line) only the 10% of that candlestick volume will contribute to that profile.
Release Notes
V2. The lookback line is updated at every new candlestick. Updated Tags.Release Notes
V3.Requested by: ko_dori
Added input: color picker. Choose the color the volume bar.
Added input: max transparency. If higher value -> less important bars are more transparent.
Release Notes
V4.Requested by @TraderX_Unkown
- Added Input: Low color . Pick the color profile of the tightest profiles.
- Remove Input: Max transparency. Obsolete by the previous input. You are free to select the transparency of the Lower profile.
- Added Input: Gradient change. With this you can select different algorithms to control the gradient change between High-Low volume colors. Can be used to highlight the wider profiles.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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