Candles Volume HeatMap [BigBeluga]

16 saat önce

Candles Volume HeatMap [BigBeluga]

The Candle Volume HeatMap indicator is a unique and advanced tool that visualizes lower timeframe volume activity within higher timeframe candles, offering traders a granular perspective on volume distribution.

⚠️Important note: before using the indicator, it is necessary to apply it to the candles


🔵Key Features:

• Volume HeatMap Visualization: The indicator breaks down each higher timeframe candle into 10 equal vertical segments (boxes) based on its high-to-low range. Each box represents a lower timeframe candle's volume activity, with more intense colors indicating stronger volume levels.
  
• Lower Timeframe Integration: Automatically uses a timeframe 10x lower than the current chart. For example, on a 10-hour chart, it uses 1-hour candles to extract volume data.
  
• POC (Point of Control): The highest volume box within each candle is marked with the volume value. The indicator also plots a horizontal POC line at the level of this box, highlighting significant areas of price interest. The POC line is removed once the price crosses it, ensuring the chart stays clean.
  
• Delta Display (Optional): Traders can enable the Delta feature to analyze buyer vs. seller activity within each higher timeframe candle.
  Delta is calculated by summing 10 lower timeframe candles: a bullish candle adds to buyers, while a bearish candle adds to sellers. Displays the net Delta percentage: positive values (white) indicate buyer dominance, while negative values (red) indicate seller dominance.
• Dynamic Volume Scaling: The highest volume value in each candle is displayed inside its respective box, providing quick insights into critical price-volume levels.
  

🔵How It Works:

• For each higher timeframe candle, the indicator analyzes 10 lower timeframe candles and maps their volume into 10 segments (boxes) between the high and low of the current candle.
  
• The intensity of each box's color corresponds to the relative volume of the lower timeframe candle it represents.
  
• The POC highlights the price level with the highest concentration of volume, aiding in identifying potential support/resistance zones.
  
• Delta analysis offers additional insights into market sentiment by breaking down buyer and seller activity in each candle.
  

🔵Use Cases:

• Spotting key volume areas within higher timeframe candles to identify support and resistance levels.
  
• Analyzing volume concentration for potential breakout or reversal zones.
  
• Leveraging Delta analysis to gauge market sentiment and confirm volume-based trends.
  

This indicator is ideal for traders seeking to combine volume analysis with price action, offering precise insights into volume distribution and market dynamics.