Candles Volume HeatMap [BigBeluga]Candles Volume HeatMap
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.
Pointofcontrol
Price-Volume w Trendline - Strategy [presentTrading]█ Introduction and How it is Different
The Price-Volume with Trendline Strategy is an innovative strategy that combines volume profile analysis, price-based Z-scores, and dynamic trendline filtering to identify optimal entry and exit points in the market. What sets this strategy apart is the integration of volume concentration (Point of Control or PoC) with dynamic volatility thresholds. Additionally, this strategy introduces a multi-step take profit (TP) mechanism that adjusts based on predefined levels, allowing traders to exit trades progressively while capitalizing on market momentum.
BTCUSD 6hr LS Performance
█ Strategy, How it Works: Detailed Explanation
The combination of multiple indicators and methodologies serves to create a more robust and reliable trading system. Each element is carefully chosen for its complementary role in providing accurate signals while minimizing false entries and exits. Here’s why the different components were chosen and how they work together:
- PoC and Z-Scores: The volume profile identifies key price areas, while the Z-score measures deviations from the mean. Together, they highlight points where the market is likely to react. For example, when the Z-score indicates an oversold condition near a PoC support level, it increases the probability of a reversal, providing a clear entry signal.
- Trendlines and Z-Scores: Trendlines serve as a secondary filter to ensure that price deviations identified by Z-scores align with broader market trends. This ensures that trades are only entered when the price has both deviated from its average and broken through a significant trendline level, reducing the likelihood of false signals.
- Multi-Step TP and Risk Management: Finally, the multi-step take profit logic works in tandem with the entry signals generated by the PoC, Z-scores, and trendlines. As the price moves in favor of the trade, profits are gradually locked in, ensuring the trader captures gains while still leaving room for further upside.
🔶 Point of Control (PoC) and Volume Profile Analysis
The PoC identifies the price level with the highest volume concentration within a specified lookback period. This price level represents where the most trading activity has occurred, often acting as a strong support or resistance. By breaking down the range into several rows (bins), the strategy identifies how much volume was traded at each price level.
🔶 Z-Score Calculation
The Z-score is a statistical metric that measures how far the current price is from its mean, expressed in terms of standard deviations. This is calculated both for price deviation and PoC-based deviation.
🔶 Trendline Breakout Filtering
The trendline filtering is a crucial aspect that refines entry signals by confirming trend continuation or reversals. It calculates trendlines based on pivot highs and lows using the selected method (e.g., ATR or standard deviation).
🔶 Multi-Step Take Profit
The multi-step take profit mechanism allows the strategy to take partial profits at several predefined levels. For example, when the price reaches 3%, 8%, 14%, or 21% above (or below) the entry price, it exits portions of the position. This is a useful technique for locking in profits as the market moves favorably.
Local
█ Usage
The Price-Volume with Trendline Strategy can be applied to various asset classes, including stocks, cryptocurrencies, and commodities. It is particularly effective in volatile markets where price deviations and volume concentrations signal potential reversals or trend continuations. By adjusting the settings for volatility and the lookback period, this strategy can be tailored to both short-term intraday trades and longer-term swing trades.
█ Default Settings
The default settings in the strategy play a vital role in shaping its performance.
- POC_lookbackLength (144): This defines the number of bars used to calculate the PoC. A longer lookback captures more data, leading to a more stable PoC, but may result in delayed signals. A shorter lookback increases responsiveness but may introduce noise.
- priceDeviationLength (200): This determines the period for calculating the standard deviation of price. A higher length smooths out the volatility, reducing the likelihood of false signals. Shorter lengths make the strategy more sensitive to sudden price movements.
- TL_length (14): Controls the swing detection period for trendline calculation. A shorter length will generate more frequent trendline breakouts, while a longer length captures only significant moves.
- Stop Loss and Take Profit: The strategy offers both fixed and SuperTrend-based stop losses. SuperTrend is adaptive to volatility, while fixed stop losses provide simpler risk control. The multi-step take profit ensures that profits are secured progressively, which can improve performance in trending markets by reducing the risk of full reversals.
Each of these settings can significantly affect the strategy’s risk-reward balance. For instance, increasing the stop loss level or the take profit percentages allows the strategy to stay in trades longer, potentially increasing profit per trade but at the cost of larger drawdowns. Conversely, tighter stops and smaller profit targets result in more frequent trades with lower average profit per trade.
MM Day Trader LevelsAs an intraday trader, there are certain key levels that I care about for short-term price action on every single chart. When I first began day trading, each morning I would painstakingly mark those key levels off on the charts I planned to trade each day. Depending on the number of charts I was watching, this would take up quite a bit of my time that I felt would have been much better spent doing other things. It also meant that those levels would often be left behind, and on later days I might be trading a symbol and get confused when a line appeared and I'd be paying attention to it only to later discover that it wasn't from prior day, but from some other day in the past when I had marked it off.
I looked all over TradingView to find indicators that did this automatically for me, and I found a lot of them. One by one I tried them, and inevitably I would always find that something was wrong with them. Often they didn't have all of the levels I wanted (so I would have to combine multiple indicators), but more often I found that the levels would be incorrect, or they would be buggy and not appear consistently, or they would not appear at the right time, or they would not work on futures! The list of problems went on and on. And the biggest issue I found was that nobody knew how to get session volume profile in an indicator.
So, over the course of a few years I figured out how to solve all of those problems and now I'm thrilled to present this free indicator for everyone like me who trades intraday and wants a clean consistent way to see the prior day levels that they care about automatically on every single chart (even futures). The levels the indicator provides are:
Yesterday High & Low
Value Area High & Low & Point of Control
Today's Open
Yesterday's Close (aka "Settlement" on futures)
Premarket High & Low (non-futures only)
Overnight High & Low (futures only)
These levels are extremely important, and I expect price to be reactive to them, so each level has a shaded background behind it so that the levels stand out against other lines you may have on your chart. I try to keep configuration as simple as possible, but there are configuration options that allow you to:
Hide any of the levels
Change the color for the levels
Shade the value area (or not)
Change the label text, size, type (basic label or plain text) and location (how far to the right of last candle to place the label
Adjust session volume profile value area volume & number of rows
The biggest advantage to this indicator over others on TradingView is how it handles session volume profile. When it comes to futures, TradingView does differentiate between regular trading hours and "electronic" trading hours on the charts, but their timeframes for those sessions are unusual, and they do not provide any programmatic way to differentiate between them. So, I created a whole new library for dealing with futures sessions that is fully integrated into both my Session Volume Profile library and this indicator, allowing me to bring you the best and only custom indicator available on TradingView that provides you with true regular session volume profile information across every type of symbol, including futures.
I'm incredibly proud of everything I've been able to provide with this indicator, and even more thrilled to say that I'm proud of how the indicator has been implemented. Once again releasing this indicator and all associated code for free and open source. I encourage you to take a look at the source code to see how it all works, take advantage of the free underlying libraries I created to make all of this possible: Session Library and Session Volume Profile Library.
Volume Profile Heatmap [UAlgo]The "Volume Profile Heatmap " indicator is a tool designed to visualize the distribution of trading volume across different price levels over a specified period. This heatmap-style indicator helps traders identify significant price levels where a high volume of trading activity has occurred, which can be crucial for making informed trading decisions. The indicator divides the price range into multiple levels and calculates the volume of trades occurring at each level, presenting this data in a visually intuitive manner using a gradient of colors.
By analyzing the volume profile, traders can gain insights into areas of support and resistance, as well as the Point of Control (POC)—the price level with the highest traded volume. This information is valuable in assessing market sentiment, potential reversal points, and key areas of interest where price action might consolidate or react.
🔶 Key Features
Customizable Analysis Period: The indicator allows users to specify the analysis period, defining the historical range over which the volume profile is calculated.
Adjustable Number of Levels: Users can set the number of price levels to divide the price range, offering flexibility in the granularity of the volume analysis.
Color-Coded Heatmap: The indicator uses a gradient color scheme to visually represent volume intensity at each price level. Higher volume areas are shaded differently than lower volume areas, making it easy to spot significant price levels.
Opacity Control: Users can adjust the opacity of the volume boxes, enabling a clearer or more subtle visualization according to their preferences.
Point of Control (POC) Display: The indicator highlights the Point of Control, the price level with the highest traded volume, with a distinct line on the chart, allowing traders to easily identify this critical level.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Price-Volume Dynamic - Strategy [presentTrading]█ Introduction and How it is Different
The "Price-Volume Dynamic - Strategy" leverages a unique blend of price action, volume analysis, and statistical z-scores to establish trading positions. This approach differentiates itself by integrating the concept of the Point of Control (POC) from volume profile analysis with price-based z-score indicators to create a dynamic trading strategy. It tailors entry and exit thresholds based on current market volatility, providing a responsive and adaptive trading method. This strategy stands out by considering both historical volatility and price trends to adjust trading decisions in real-time, enhancing its effectiveness in various market conditions.
BTCUSD 4h LS Performance
█ Strategy: How It Works – Detailed Explanation
🔶 Calculating Point of Control (POC)
The Point of Control (POC) represents the price level with the highest traded volume over a specified lookback period. It's calculated by dividing the price range into a number of rows, each representing a price level. The volume at each price level is tallied and the level with the maximum volume is designated as the POC.
🔶 Dynamic Thresholds Adjustments
The entry and exit thresholds are dynamically adjusted based on normalized volatility, which is derived from the current, minimum, and maximum ATR over a specified period. This normalization ensures that the thresholds adapt to changes in market conditions, making the strategy sensitive to shifts in market volatility.
BTCUSD local performance
█ Trade Direction
The strategy can be configured to trade in three different directions: Long, Short, or Both. This flexibility allows traders to align their trading strategy with their market outlook or risk preferences. By adjusting the `POC_tradeDirection` input, traders can selectively participate in market movements that match their trading style and objectives.
█ Usage
To deploy this strategy, traders should apply it within a trading software that supports scripting and backtesting, such as TradingView's Pine Script environment. Users can input their parameters based on their analysis of the market conditions and their risk tolerance. It is essential for traders to backtest the strategy using historical data to evaluate its performance and make necessary adjustments before applying it in live trading scenarios.
█ Default Settings
- Lookback Length: Sets the period over which the highest and lowest prices, and the volume per price level, are calculated. A higher lookback length smoothens the volatility but may delay response to recent market movements.
- Number of Rows: Determines the granularity of price levels within the price range. More rows provide a more detailed volume profile but require more computational resources.
- Entry Z-Score Threshold Base: Influences the sensitivity of the strategy to enter trades. Higher values make the strategy more conservative, requiring stronger deviation from the mean to trigger a trade.
- Exit Z-Score Threshold Base: Sets the threshold for exiting trades, with lower values allowing trades to close on smaller price retractions, thereby potentially preserving profits or reducing losses.
- Trading Direction: Allows selection between Long, Short, or Both, enabling traders to tailor the strategy to their market view or risk preferences.
Rolling Point of Control (POC) [AlgoAlpha]Enhance your trading decisions with the Rolling Point of Control (POC) Indicator designed by AlgoAlpha! This powerful tool displays a dynamic Point of Control based on volume or price profiles directly on your chart, providing a vivid depiction of dominant price levels according to historical data. 🌟📈
🚀 Key Features:
Profile Type Selection: Choose between Volume Profile and Price Profile to best suit your analysis needs.
Adjustable Lookback Period: Modify the lookback period to consider more or less historical data for your profile.
Customizable Resolution and Scale: Tailor the resolution and horizontal scale of the profile for precision and clarity.
Trend Analysis Tools: Enable trend analysis with the option to display a weighted moving average of the POC.
Color-Coded Feedback: Utilize color gradients to quickly identify bullish and bearish conditions relative to the POC.
Interactive Visuals: Dynamic rendering of profiles and alerts for crossing events enhances visual feedback and responsiveness.
Multiple Customization Options: Smooth the POC line, toggle profile and fill visibility, and choose custom colors for various elements.
🖥️ How to Use:
🛠 Add the Indicator:
Add the indicator to favorites and customize settings like profile type, lookback period, and resolution to fit your trading style.
📊 Market Analysis:
Monitor the POC line for significant price levels. Use the histogram to understand price distributions and locate major market pivots.
🔔 Alerts Setup:
Enable alerts for price crossing over or under the POC, as well as for trend changes, to stay ahead of market movements without constant chart monitoring.
🛠️ How It Works:
The Rolling POC indicator dynamically calculates the Point of Control either based on volume or price within a user-defined lookback period. It plots a histogram (profile) that highlights the level at which the most trading activity has occurred, helping to identify key support and resistance levels.
Basic Logic Overview:
- Data Compilation: Gathers high, low, and volume (if volume profile selected) data within the lookback period.
- Histogram Calculation: Divides the price range into bins (as specified by resolution), counting hits in each bin to find the most frequented price level.
- POC Identification: The price level with the highest concentration of hits (or volume) is marked as the POC.
- Trend MA (Optional): If enabled, the indicator plots a moving average of the POC for trend analysis.
By integrating the Rolling Point of Control into your charting toolkit, you can significantly enhance your market analysis and potentially increase the accuracy of your trading decisions. Whether you're day trading or looking at longer time frames, this indicator offers a detailed, customizable perspective on market dynamics. 🌍💹
Moving point of controlLibrary "moving_poc"
method getMovingPoc(averagePriceByVolumeHistory, ltfVolumeSerie, ltfPriceSerie, nbBarsToLookback)
Volume point of control (PoC) extracted from lower time frame data and previous time period
Namespace types: array
Parameters:
averagePriceByVolumeHistory (array) : An array of float to record previous PoC average
ltfVolumeSerie (array) : Source of volume for the lower timeframe (ltf)
ltfPriceSerie (array) : Source of price for the lower timeframe
nbBarsToLookback (int) : A number of bars determining the lookback period of this PoC
Returns: Serie of PoC
Multi Session Volume Profile LevelsThis script allows a user to plot current and historical volume profile levels (POC, VAH, VAL) of RTH (NY trading hours), ETH (Globex and/or Equities ETH), and Weekly Profiles.
Each profile has multiple settings to tailor how the user desires. The list includes:
Plotting the current volume profile
Plotting historical session/week volume profile levels
Many configuration options for colors, line styles, and labels
One feature not mentioned above is the ability to plot any untested (i.e. naked) level that will disappear once it is traded through. The way this feature works is if a level is traded through during RTH (NY session), the level will stop plotting and/or disappear at the end of that trading session if it is a session VP level (ETH or RTH) or at the end of the trading week for the weekly profile levels.
Limitations
There are some minor limitations due to pine script that need to be mentioned. The volume profile calculations utilize the 1 minute timeframe to allow for more granular plotting of the volume profile. This allows the script to mimic the native volume profile script as closely as possible. The timeframe used for the calculation can be changed to use 1m, 2m, 3m, or 5m. Please be aware that using a higher timeframe allows for more historical levels to be plotted but results less resolution of the volume profile itself.
An attempt was made to get this as close to the native volume profile levels as possible. While most of the time the levels in this script are within a handful of ticks of the native levels, there are situations where they can be far off. Double distribution days are where this script can sometimes deviate significantly from the native volume profile or in instances where there are two high volume nodes that are very similar in volume. Pine script does not provide the same resolution to volume that is used in the native volume profile script which is why the values may be different when comparing them.
Another item that might be encountered is calculation timeouts. Due to the amount of calculations needing to be done to plot these levels you may encounter calculation timeouts when first applying them to the chart and periodically during the use of the indicator. If this is encountered, simply change one of the inputs in the inputs tab to force it to recalculate and it will eventually provide the levels on the chart. I am working on trying to optimize this to reduce these calculation timeouts but this is as good as I could get it for now.
Future updates will include higher timeframe volume profile values but will require a bit more work to get it implemented. As always I am open to suggestions on how to make this script better as it provides a more automated way to utilize these levels than what is currently provided.
Volume Profile PlusThis indicator provides a high-resolution and high-precision implementation of Volume Profile with flexible range settings. Its key features include:
1. Support for a high resolution of up to 2,500 rows.
2. Capability to examine lower timeframe bars (default 5,000 intra-bars) for enhanced precision.
3. Three range modes — "Visible Range", "Anchored Range", and "All Range".
4. Highlighting of Point of Control and Value Area.
5. Extensive customization options allowing users to configure dimensions, on-chart placements, and color schemes.
🔵 Settings
The settings screen, along with the explanations for each setting, is provided below:
🔵 High Resolution using Polyline
Inspired by @fikira, this indicator utilizes the newly introduced `polyline` type in PineScript to plot the volume profile. It employs a single polyline instance to represent the entire histogram. With each polyline instance supporting up to 10,000 points and each histogram row requiring 4 points, this indicator can accommodate 2500 rows, resulting in a significantly higher resolution compared to conventional volume profile indicators that use `line`s or `box`es to draw the histogram.
🔵 High Precision Data-binning using Lower Timeframe Data
Conventional volume profile indicators often face one or both of the following limitations:
1. They only consider volume within the chart's current timeframe.
2. They assign each bar's total volume to a single price bucket based on the bar's average price, rather than distributing volume across multiple price buckets.
As a result, when the number of bars in the chart is low, those indicators may provide imprecise results, making it difficult to accurately identify significant volume nodes and the point of control.
To address these limitations and enhance accuracy, this indicator examines data from lower timeframes and distributes the volume to fine-grained price buckets. It intelligently selects an appropriate lower timeframe to ensure precise output while complying with a maximum specified number of bars to maintain good performance.
🔵 Three Range Modes
This indicator offers users the flexibility to choose from three range modes:
1. Visible Range (Default Mode): In this mode, the volume profile calculation begins at the time of the left-most bar displayed in the current viewport. As the user scrolls through the viewport, the volume profile updates automatically.
2. Anchored Range: This mode allows the user to set the start time either by using the datetime input boxes or by dragging the anchor line on the chart.
3. All Range: In this mode, the volume profile calculation is based on all the historical bars available in the chart.
Volume Profile with Delta [TradeMaster Lite]The indicator estimates and displays the total traded volume and it's delta** at each price level during the user-defined period. It can be used to identify key support and resistance levels, determine logical take profit and stop loss levels, identify balanced and unbalanced markets and determine trend strength. The indicator offers different approaches to visualize the volume profile and can be chosen based on your preferred trading strategy and analysis method. The position and size of the Volume Profile is fully customizable, it can even be flipped if needed!
Three different display types (cosmetic effect only):
Classic
Compact
Modern
The Lite version offers three different range types:
Visible Range: displays the volume profile for the visible range of bars or candles on the chart. It adjusts dynamically as you change the chart view making it ideal for the modern trader who values both precision and simplicity.
Open End: displays the volume profile from a specific start date without a defined end, including real delta data. It provides an overview of the volume activity across all price levels of the examined period.
Fixed End: lets you define a specific start and end point for the volume profile. It can be useful if you want to analyze the volume activity within a specific time period or price range.
👉 Usage
The Volume Profile is a histogram that shows the estimated trading volume at certain price levels, how much was sold and how much was bought of the asset. The longer the histogram, the greater the trading volume at that price level. The Delta estimates which side was dominant at that price level and by how much.
To make the most out of the indicator, you can look for
pullbacks to high volume nodes or value areas,
initial equilibrium pullbacks,
buy or sell opportunities for price reversals,
institutional order flow.
The largest histogram node is called the Point of Control (POC). It is the estimated real market price of a coin. There's a common belief that when the price is above this point, the market sentiment is bullish, and when it's below, the sentiment turns bearish. It can act as a strong support if the price is above it and as strong resistance if the price is below it.
Price action usually finds the most support and resistance and the edge of the high volume areas. The indicator can mark these as VAH and VAL (Value Area High and Low).
In addition to the indication of support and resistance zones, the volume profile can also be used to infer the speed of price movements. At levels where there is little trading volume, faster and more volatile price movements are expected. In such scenarios the price may fall or rise faster to the next high volume zone.
👉 General advice
Confirming Signals with other indicators:
As with all technical indicators, it is important to confirm potential signals with other analytical tools, such as support and resistance levels, as well as indicators like RSI, MACD, and volume. This helps increase the probability of a successful trade.
Use proper risk management:
When using this or any other indicator, it is crucial to have proper risk management in place. Consider implementing stop-loss levels and thoughtful position sizing.
Combining with other technical indicators:
The indicator can be effectively used alongside other technical indicators to create a comprehensive trading strategy and provide additional confirmation.
Keep in Mind:
Thorough research and backtesting are essential before making any trading decisions. Furthermore, it's crucial to have a solid understanding of the indicator and its behavior. Additionally, incorporating fundamental analysis and considering market sentiment can be vital factors to take into account in your trading approach.
Limitations:
The Lite version shows simple delta with current timeframe volume data.
The indicators within the TradeMaster Lite package aim for simplicity and efficiency, while retaining their original purpose and value. Some settings, functions or visuals may be simpler than expected.
**The Delta estimates which side was dominant at that price level and by how much. It is the difference between bull and bear volume of the candle.
⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. Our aim is to offer useful features that meet the needs of the 21st century and that we actually use.
🛑 Risk Notice:
Everything provided by trademasterindicator – from scripts, tools, and articles to educational materials – is intended solely for educational and informational purposes. Past performance does not assure future returns.
Price & Volume Profile (Expo)█ Overview
The Price & Volume Profile provides a holistic perspective on market dynamics by simultaneously tracking price action and trading volume across a range of price levels. So it is not only a volume-based indicator but also a price-based one. In addition to illustrating volume distribution, it quantifies how frequently the price has fallen within a particular range, thus offering a holistic perspective on market dynamics.
This unique and comprehensive approach to market analysis by considering both price action and trading volume, two crucial dimensions of market activity. Its distinctive methodology offers several advantages:
Holistic Market View: By simultaneously tracking the frequency of specific price ranges (Price Profile) and the volume traded at those ranges (Volume Profile), this indicator provides a more complete picture of market behavior. It shows not only where the market is trading but also how much it's trading, reflecting both price acceptance levels and market participation intensity.
Point of Control (POC): The POC, as highlighted by this indicator, serves as a significant reference point for traders. It identifies the price level with the highest trading activity, thus indicating a strong consensus among market participants about the asset's fair value. Observing how price interacts with the POC can offer valuable insights into market sentiment and potential trend reversals.
Support and Resistance Levels: Price levels with high trading activity often act as support or resistance in future price movements. The indicator visually represents these levels, enabling traders to anticipate potential price reactions.
Price Profile
Price and Volume Profile
█ Calculations
The algorithm analyzes both trade frequency and volume across different price levels. It identifies these levels within the visible chart range, then examines each bar to determine if the selected price falls within these levels. If so, it increases a counter and adds the trading volume. This process repeats across the visible range and is visualized as a horizontal histogram, each bar representing a price level and the bar length reflecting trade frequency and volume. Additionally, it calculates the Point of Control (POC), signifying the price level with the highest activity.
In summary: The histogram presents a dual perspective - not only the traded volume at each price level but also the frequency of the price hitting each range. The longer the bar, the more times the price has frequented that specific range, revealing key insights into price behavior and acceptance levels. These frequently visited areas often emerge as strong support or resistance zones, helping traders navigate market movements.
Please note that the indicator adjusts to the visible price range, making it adaptable to changing market conditions. This dynamic analysis can provide more relevant and timely information than static indicators.
█ How to use
This indicator is beneficial for traders as it offers insights into the distribution of trading activity across different price levels. It helps identify key areas of support and resistance and gives a visual representation of market sentiment and liquidity.
The point of control (POC) , which is the price level with the highest traded volume or frequency count, becomes even more crucial in this context. It marks the price at which the most trading activity occurred, signaling a strong consensus among market participants about the asset's fair value. If the market price deviates significantly from the POC, it could suggest an overbought or oversold condition, potentially leading to a price reversion.
Fair Price Areas/gaps are specific price levels or zones where an asset has spent limited time in the past. These areas are considered interesting or significant because they may have an impact on future price action.
Similar to the concept of fair value gaps, which refers to discrepancies between an asset's market price and its estimated intrinsic value, Fair Price Areas/gaps focus on price levels that have been relatively underutilized in terms of trading activity. When an asset's price reaches a Fair Price Area/gap, traders and investors pay attention because they expect the price to react in some way. The rationale behind this concept is that price tends to gravitate towards areas where it has spent less time in the past, as the market perceives them as significant levels.
█ Settings
The indicator is customizable, allowing users to define the number of price levels (rows), the offset, the data source, and whether to display volume or frequency count. It also adjusts dynamically to the visible price range on the chart, ensuring that the analysis remains relevant and timely with changing market conditions.
Source: The price to use for the calculation. Typically, this is the closing price. By considering the user-selected Source (typically the closing price), the indicator determines the frequency with which the price lands within each designated price level (row) over the selected period. In essence, the indicator provides a count of bars where the Source price falls within each range, essentially creating a "Price Profile."
Row Size: The number of price levels (rows) to divide the visible price range into.
Display: Choose whether to display the number of bars ("Counter") or the total volume ("Volume") for each price level.
Offset: The distance of the histogram from the price chart.
Point of Control (POC): If enabled, the indicator will highlight the price level with the most activity.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Linear Regression Volume ProfileLinear Regression Volume Profile plots the volume profile fixated on the linear regression of the lookback period rather than statically across y = 0. This helps identify potential support and resistance inside of the price channel.
Settings
Linear Regression
Linear Regression Source: the price source in which to sample when calculating the linear regression
Length: the number of bars to sample when calculating the linear regression
Deviation: the number of standard deviations away from the linear regression line to draw the upper and lower bounds
Linear Regression
Rows: the number of rows to divide the linear regression channel into when calculating the volume profile
Show Point of Control: toggle whether or not to plot the level with highest amount of volume
Usage
Similar to the traditional Linear Regression and Volume Profile this indicator is mainly to determine levels of support and resistance. One may interpret a level with high volume (i.e. point of control) to be a potential reversal point.
Details
This indicator first calculates the linear regression of the specified lookback period and, subsequently, the upper and lower bound of the linear regression channel. It then divides this channel by the specified number of rows and sums the volume that occurs in each row. The volume profile is scaled to the min and max volume.
Volume and vPOC InsightsThe vPOC or volume point of control shows where most of the volume was traded. This is important because this is where the institutions and market makers have opened their positions, and these are the ones that move the markets!
This indicator is designed to cut through the volume noise, and enable the hiding of lower volume data.
The main setting allows you to define a lookback, and obscure the candles whose volume is less than x % of the highest volume in this lookback.
Of the remaining candles, their vPOC will be displayed. There are extra settings to extend naked vPOCs, as well as the highs and lows of these high volume candles, plus an EMA based on the vPOC price levels.
I must credit quantifytools @quantifytools who allowed me to utilize his code, for finding vPOCs using lower timeframe candles - there are comments in the code also. It works perfectly so why reinvent the wheel?
[Pt] Daily Market Profile / TPOA great mentor of mine once told me, trading is like driving. When you are driving, there are directions and road signs to follow. The key areas and levels from TPO market profile are the road signs in trading, you shouldn't trade without them much like you shouldn't drive without road signs, as you will get lost.
From Wikipedia: "A Market Profile is an intra-day charting technique (price vertical, time/activity horizontal) devised by J. Peter Steidlmayer, a trader at the Chicago Board of Trade (CBOT), ca 1959-1985. Steidlmayer was seeking a way to determine and to evaluate market value as it developed in the day time frame. The concept was to display price on a vertical axis against time on the horizontal, and the ensuing graphic generally is a bell shape--fatter at the middle prices, with activity trailing off and volume diminished at the extreme higher and lower prices." If you are unfamiliar with the concept, search for Market Auction Theory, Market Profile, and TPO on the web.
What's cool about this script?
As a professional trading, you should be drafting a trading plan and drawing all your key areas and levels before entering a trade. If you are trading with market profile, with this script, you no longer have to spend the time it takes to manually draw those key areas and levels. All are automatically generated with this script to give you the visual cues in your trades~!!
**IMPORTANT** Please note that due to the limitation on TradingView, there can only be limited number of boxes and lines that can be generated per indicator. Hence, this script only aims to provide you with as many key areas and levels as possible. This may be mitigated by having multiple instances of this indicator. Please use at your risk and discretion.
This script provides a comprehensive set of indicators / elements of daily TPO market profile, which includes the following:
- Market Profile based on TPO
- Point of Control (POC)
- Value Area (VA)
- Single Prints (SP)
- Excess (EX)
- Naked vs Visited (Touched) POC and VA
This script also includes the following key features that hopes to provide value in your trading:
- Automatically generated key areas and levels, including all the elements above
- Those key areas and levels will fade away as they become less significant, based on number of crosses and touches
- Customizable display settings
- Customizable session for generating the MP
- Two positions for MP placement
Setting descriptions:
Time & volume point of control / quantifytoolsWhat are TPOC & VPOC?
TPOC (time point of control) and VPOC (volume point of control) are points in price where highest amount of time/volume was traded. This is considered key information in a market profile, as it shows where market participant interest was highest. Unlike full fledged market profile that shows total time/volume distribution, this script shows the points of control for each candle, plotted with a line (time) and a dot (volume). The script hides your candles/bars by default and forms a line in the middle representing candle range. In case of candles, borders will still be visible. This feature can be turned off in the settings.
Volume and time data are fetched from a lower timeframe that is automatically adjusted to fit the timeframe you're using. By default, the following settings are applied:
Charts <= 30 min: 1 minute timeframe
Charts > 30 min & <= 3 hours : 5 minute timeframe
Charts > 3 hours & <= 8 hours : 15 minute timeframe
Charts > 8 hours & <= 1D: 1 hour timeframe
Charts > 1D & <= 3D : 2 hour timeframe
Charts > 3D: 4 hour timeframe
Timeframe settings can be changed via input menu. The lower the timeframe, the more precision you get but with the cost of less historical data and slower loading time. Users can also choose which source to use for determining price for points of control, e.g. using close as source, the point of control is set to match the value of lower timeframe candle close. This could be replaced with OHLC4 for example, resulting in a point of control based on OHLC average.
To identify more profound points of market participant interest, TPOC & VPOC as percentage of total time/volume thresholds can be set via input menu. When a point of control is equal to or greater than the set percentage threshold, visual elements will be highlighted in a different color, e.g. 50% VPOC threshold will activate a highlight whenever volume traded at VPOC is equal to or greater than 50% of total volume. All colors are customizable.
VPOC is defined by fetching lower timeframe candle with the most amount of volume traded and using its close (by default) as a mark for point of control. For TPOC, each candle is divided into 10 lots which are used for calculating amount of closes taking place within the bracket values. The lot with highest amount of closes will be considered a point of control. This mark is displayed in the middle point of a lot:
How to utilize TPOC & VPOC
Example #1: Trapped market participants
One or both points of control at one end of candle range (wick tail) and candle close at the other end serves as an indication of market participants trapped in an awkward position. When price runs away further from these trapped participants, they are eventually forced to cover and drive price even further to the opposite direction:
Example #2: Trend initiation
A large move that leaves TPOC behind while VPOC is supportive serves as an indication of a trend initiation. Essentially, this is one way to identify an event where price traded sideways most of the time and suddenly moved away with volume:
Example #3: POC supported trend
A trend is healthy when it's supported by a point of control. Ideally you want to see either time or volume supporting a trend:
TAS Float PCL + TAS Static PCL [TASMarketProfile]TAS PRICE COMPRESSION LEVELS (PCLs) includes 2 distinct indicators that use volume at price analysis, volume aggregation and multi-timeframe confluence to calculate and display significant levels of commercial interest above and below the market. These levels reveal reliable trading levels which can be leveraged for enhanced trade entries, trailing stops and targets.
THERE ARE TWO TYPES OF TAS PCLs:
TAS Float PCLs - These levels take into account new data flow throughout the trading session and expands or contracts the levels dynamically in accordance with changing market conditions. These are often referred to by traders as “Floaters” or “Dynamic PCLs.”
TAS Static PCLs - These levels are set upon the start of the trading session and remain intact throughout the duration of the session. Many traders These are often referred to by traders as “Statics.”
Both TAS Floaters and TAS Statics have up to 10 horizontal lines available to display. The four center lines are referred to as Points of Control (POC). Three of these lines are colored cyan and one is yellow. The yellow line is more prominent and referred to as the Master Point of Control (MPOC) of the Price Compression Levels on display. The first area of commercial suppor t and resistance are plotted with red lines on both sides of the POC lines and commonly referred to as S1 and R1 levels. The next level of support and resistance areas are designated by blue lines (S2 and R2 levels) and then lastly the farthest from the POC lines are the green lines (S3 and R3 levels). By default, typically the green lines are not displayed but can be activated on an “as needed” basis within the indicator Style settings.
EXAMPLE OF TAS FLOAT PCLs:
ABOUT TAS FLOAT PCLs:
The TAS Dynamic PCLs (Floaters) reveal the price areas that attract commercial interest based on the current market conditions.
How the PCLs are plotted can be adjusted with two inputs controlled by the user.
----------1) MinSignal_123: This setting controls the sensitivity of the calculations. The default is set to 1 and this represents the most sensitive input that makes it easiest for market conditions to trigger new PCL levels. A setting of 2 is considered “medium” sensitivity and lastly a setting of 3 would require the most substantial change in conditions to trigger an adjustment of PCLs on the chart.
----------2) Length: This input setting determines the number of bars of data included in the calculation for new TAS Float PCLs to be adjusted on the chart. The default is set to 8.
MORE ON INPUT SETTINGS:
Using higher values in both inputs will display more significant areas of commercial interest for higher probability support and resistance levels around PCLs. These are referred to as “slow” Floaters.
Using lower value inputs will create Floaters that are more responsive to market conditions. These are referred to as “fast” Floaters.
When fast Floaters are contracted (cover a narrow range of prices) the market is tightly balanced and can easily enter into breakout conditions, if price closes outside of the TAS Float PCLs.
Expanded Floaters that are wider apart provide for greater rotational range trading conditions.
BELOW ARE THE RECOMMENDED INPUT SETTINGS COMBINATIONS THAT WILL DICTATE HOW RESPONSIVE THE PCLs WILL REACT TO CONDITIONS:
FAST (default): 1 - 8
MEDIUM: 2 - 14
SLOW: 3 - 34
The user will typically choose to have either Statics or Float PCLs active on the chart at a time, but not both as you'll have up to 20 levels on your chart (too many). You can, however, put them on different panes. Visit the INPUT settings of the indicator to select which one you want active.
The user can change the coloring, line type and thickness in the STYLE settings.
ABOUT TAS STATIC PCLs:
Many traders opt for TAS Static PCLs because they prefer to know the significant commercial interest price areas before they trade.
Unlike Floaters, TAS Static levels will not change throughout the trading session and are only affected if the user changes the opening and closing time parameters for the trading session displayed. By default, Static levels will recalculate and display new levels upon the reopen of the next session.
Tightly compacted POC lines designate an area of particularly strong commercial interest that provides higher probability, lower risk entries for extended directional moves. These areas are often referred to as “walls.”
If the POC lines are spread out over a wider range, a trader should be on the lookout for a more rotational trading session.
Periodically, one of the POC lines may be plotted outside of a red line (S1 or R1). In this case, the market may be biased in the same direction that the POC line is in relation to the red line.
TAS PRICE COMPRESSION LEVELS can be used as a stand-alone trading guidance system or in conjunction with other popular TASMarketProfile indicators.
Trade Well My Friends!
Point of Control V2 The genesis of this project was to create a POC library that would be available to deliver volume profile information via pine to other scripts of indicators and strategies.
This is a republish of an invite only script to open access
This is the indicator version of the library function.
A few points of significance:
- Allows the choice of reset of the study period, day/week or bars. This is simple enough to expand to other conditions
- Bar count resets starting from the beginning of the data set (bar index =0) vs bars back from the end of the data set
- A 'period' in this context is the time between resets - the start of the POC (eg. start of Day or Week) until it resets (for example at the beginning of a next day or week)
- Automates the determination of the increment level rather than the user specifying ticks or price brackets
- Does not allow for setting the # of rows and then calculating the implied price increment levels
- When a period is complete it is often useful to look back at the POCs of historical periods, or extend them forward.
- This script will find the historical POCs around the current price and display them rather than extend all the historical POC lines to the right
- This script also looks across all the period POCs and identifies the master POC or what I call the Grand POC, and also the next 3 runner up POCs
This indicator is also available as a library.
BINANCE:BTCUSDT NSE:NIFTY OANDA:XAUUSD NASDAQ:AAPL TVC:USOIL
Naked Intrabar POCThis indicator with an unfortunate and very non PC sounding name approximates (!) the intrabar point of control (POC) either from time or volume at price.
Due to pine limitations, bin size and the sample lower time frame selection will have at least some effect on the accuracy of the approximation. The trade off is between accuracy and historical availability, however bar replay can be used to view prior historical states beyond what is visible from the current real time bar.
In order for all intrabar POC circles to be visible, you will need to manually set the visual order of the indicator by bringing it to the front.
Since the POC represents a price point around which the highest market participation occurred, the exposed global variable intrabar_poc may (or may not) be interesting as an alternative to ohlc based source input.
Volume Profile, Pivot Anchored by DGTVolume Profile (also known as Price by Volume ) is an charting study that displays trading activity over a specified time period at specific price levels. It is plotted as a horizontal histogram on the finacial isntrumnet's chart that highlights the trader's interest at specific price levels. Specified time period with Pivots Anchored Volume Profile is determined by the Pivot Levels, where the Pivot Points High Low indicator is used and presented with this Custom indicator
Finally, Volume Weighted Colored Bars indicator is presneted with the study
Different perspective of Volume Profile applications;
Anchored to Session, Week, Month etc : Anchored-Volume-Profile
Custom Range, Interactive : Volume-Profile-Custom-Range
Fixed Range with Volume Indicator : Volume-Profile-Fixed-Range
Combined with Support and Resistance Indicator : Price-Action-Support-Resistance and Volume-Profile
Combined with Supply and Demand Zones, Interactive : Supply-Demand-and-Equilibrium-Zones
Disclaimer : Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Anchored Volume Profile by DGTAnchored Volume Profile aims to display trading activity at specific price levels over specified anchored periods of trading, where anchor period can be set to auto or users can specify anchor periods of their interest (Day (Session), Week, Quarter or Year)
Anchored Volume Profile is plotted as two horizontal histograms on the finacial isntrumnet's chart that highlights the trader's common interest at specific price levels as well as aims to reveal dominant party, bulls or bears
You are invited to glance at Vol Profile and Price Action-Support-Resistance studies
Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Low Timeframe POCI have recently made a High Timeframe POC script (HFT POC) which is pretty popular. Thanks for this!
There are many requests to include lower timeframes in this script, that is why I created this script. I could have incorporated all the timeframe POC's into one indicator but I went this route to keep things more organized between all the different timeframes.
Currently included: Daily, 6H, 3H and 1H
/* DEFINITION */
Point Of Control (= POC) is a price level at which the heaviest volumes were traded.
/* HOW TO TRADE WITH THIS INDICATOR */
The basis for POC is determining bias on whichever timeframe you choose.
1. Identify a POC on the timeframe of your choosing.
/* If you choose the lowest timeframe (1H here) then always make sure to look at the higher timeframes to see how it is trading against a HTF POC.
2. When the price is moving away from the POC (either to the upside or downside) this can confirm or invalidate a trade.
3. You can now enter the trade on bias or wait for a retest of the same POC.
/* EXAMPLE TRADES /*
Here is a screenshot of some of the trades that are possible using these Low Timeframe POC's and some common sense.
s3.tradingview.com
High Timeframe POCBecause the big Bitcoin crash I have been looking a lot at high timeframe metrics. I never spent much time learning POC so I decided to create a little script for determining these on higher timeframes.
Currently included: Monthly, 3 months and 6 months.
/* DEFINITION */
Point Of Control (= POC) is a price level at which the heaviest volumes were traded.
Value Area High/Low (=VAH/VAL) is a range of prices where the majority of trading volume took place. Naturally, Value Area High being the top price level and Value Area Low being the lowest. POC always is between the two.
/* HOW TO TRADE WITH THIS INDICATOR */
The basis for POC is determining bias on whichever timeframe you choose.
1. Identify a POC on the timeframe of your choosing.
/* If you choose a "low" timeframe (monthly here) then make sure to look at the higher timeframes to see how it is playing against a higher timeframe POC.
2. When the price is moving away from the POC (either to the upside or downside) this will confirm or invalidate the trade.
3. You can now enter the trade on bias or wait for a retest of the same POC.
/* EXAMPLE TRADES /*
Here is a screenshot of some of the trades that are possible solely using the POC and some common sense.
s3.tradingview.com
Volume Profile [LuxAlgo]Displays the estimate of a volume profile, with the option to show a rolling POC (point of control). Users can change the lookback, row size, and various visual aspects of the volume profile.
Settings
Basic:
Lookback: Number of most recent bars to use for the calculation of the volume profile
Row Size: Determines the number of rows used for the calculation of the volume profile
Show Rolling POC: Determines whether to display the rolling POC of the volume profile
Style:
Width (% of the box): Determines the length of the bars relative to the Lookback value
Bar Width: Width of each bar
Flip Histogram: Flips the histogram, when enabled, the histogram base will be located at the most recent candle
Gradient: Allows to color the volume profile bars with a gradient, with a color intensity determined by the length of each bar
Rows Solid Color: Color of each bar when 'Gradient' is disabled
POC Solid Color: Color of the POC when 'Gradient' is disabled
Usage
It is very common to display volume over time in order to visualize the trading activity made over a specific candle, however this is not the only way to display volume and it can be interesting to put it in relation with the price, which is what volume profiles do.
Volume profiles are displayed as price relative histograms showing the accumulated volume within certain price areas, the number of areas are determined by the row size of the volume profile. Knowing which price's area accumulated the most volume allow highlighting areas of interest to market participants.
Most accumulated volume will be encountered in zones of equilibrium between buyers and sellers; that is zones of local price stationarity. These zones are highlighted by high volume nodes in the volume profile. Imbalance between buyers and sellers are highlighted by thinner zones of the volume profile.
The price level with the most accumulated volume is highlighted by the "point of control" (POC), displayed by the dotted line in the indicator.
The POC is often considered an important level, commonly used as support/resistance by traders. One can verify the accuracy of this use case by using the rolling POC (assuming one would use the POC over time as SR).
Indicator Limitations
Volume profiles are calculated using tick data, which is not the case of this estimate, as such you won't have an accurate representation of an actual volume profile.
The rolling POC can introduce time outs in the script computation, use lower lookback and row size value to display it.
