Historic Volume/Market ProfilesHistoric Volume/Market Profile is a Periodic Volume Profile with all of the improvements known in the original Volume/Market Profile.
VMP is a 2 in 1 Volume and Market Profile Indicator.
HVMP uses the base of VMP to offer a quick and simple view at multiple historic profiles at the same time.
This includes:
Cluster Identification for High Volume and Low Volume Areas.
Maximizing granularity by utilizing boxes and lines to get up to 1000 rows.
New Inclusions in HVMP vs VMP:
HVMP granularity is determined by the # of profiles on display. By doing this, each profile will get an even amount of allocated rows to use and granularity is scaled per-profile, to fit within the row allowance.
For Example: 1000/(# of profiles) = Maximum # of rows per profile.
HVMP introduces the "Auto-Scale" Option (on by Default), this automatically fits each profile within the defined timeframe period to provide a consistent display when switching timeframes.
Even with "Auto-Scale" enabled, "Display Size" dictates which direction the profile is displayed.
Below is a Negative Display Size (Displays from right to left, starting at the end of the period)
Below is a Positive Display Size (Displays from left to right, starting at the beginning of the period)
HVMP is only for historical data, you can get a live profile with the same Node Identification using VMP (Volume Market/Profile). The indicator that this one is based on.
Find it Here: Volume/Market Profile
Enjoy!
PVP
Periodic Volume Profile+ [Pt]This is a + version of my original Periodic Volume Profile indicator
This script includes the following extra unique features.
Show last X number of POC levels
- automatically draws these POC lines
- labels are shown as
- Naked POCs are labelled as NPOC
- label position and text size can be adjusted
Profile Range and Value Area background colors
- Option to color background based on periodic open/close price
Option to show Value Area High (VAH) and Value Area Low (VAL) Prices
What is Volume Profile?
Volume profile is a technical analysis tool that shows the volume of trades at different prices for a given security or market over a specific period of time.
How to effectively use it?
Identify key levels of support and resistance: The Periodic Volume Profile indicator can be used to identify key levels of support and resistance based on the volume of trades at different price levels. High volume areas can indicate strong support or resistance levels, while low volume areas can indicate areas of weakness or potential breakouts.
Assess overall supply and demand: The Periodic Volume Profile indicator can help traders assess overall supply and demand for a security. If there is high volume at a particular price level, this can indicate a high level of demand, while low volume can indicate low demand.
Use it in conjunction with other indicators: The Periodic Volume Profile indicator is best used in conjunction with other technical analysis tools. For example, you can use it with moving averages, trend lines, or other indicators to confirm signals or identify potential entry and exit points.
Consider the overall market context: It's important to consider the overall market context when interpreting volume profile data. For example, a high volume area may not necessarily indicate a strong level of support or resistance if the overall market is in a downtrend.
Monitor changes over time: Keep an eye on how the volume profile changes over time. If there are significant changes in the volume of trades at certain price levels, this could indicate a shift in market sentiment or a change in the underlying fundamentals of the security.
