RS: Market ProfileA Market Profile (time price opportunity) implementation with an option to mark a point of control (POC) based on volume.
Config: Hide default candles. Select a session time using exchange timezone. Experiment with tick multiplier value to achieve desired level of detail. Choose the symbols of your choice, e.g. squares or A-Z chars. For multiple sessions you will have to add additional instances of this script with a different time configuration.
Limitations: TradingView has a hard limit for the number of characters (500), if it's reached, label rendering stops. Try increasing tick multiplier value to reduce the number of labels rendered or reduce the window size.
Features:
Use symbols or A-Z chars for TPOs
Mark POC
Calculate Value Area (volume or time based)
Highlight single prints (SP)
Highlight VWAP
Show daily bar
Highlight Open and Close
Highlight current price row (during live market)
Highlight initial balance (IB)
Hacim Profili
[potatoshop] Volume Profile lower timeframeThis script is a volume profile that displays the volume of transactions in price blocks over a recent period of time.
For a more detailed representation, OHCLV values on the time frame lower than the time zone on the chart were called and expressed.
Low time frames are adjustable.
You can adjust the number of blocks and the most recent time period that you want to view.
Although it cannot be compared to the volume indicators provided for paid users of Trading-View, it has functioned by displaying transactions that are difficult to find on open source.
Displays the amount traded in each block and the percentage of the total over a given period.
POC represents the middle value of the block with the highest transaction volume as a line.
TPOC represents the block that stayed the longest regardless of the volume of transaction.
The reversal line appears when you determine the trading advantage of the rising and falling closing on a block basis and then have a different value from the neighboring blocks.
(I didn't mean it much, but I just put it in for fun.)
It represents the total volume of transactions traded in each block, and there are also check boxes in the settings window that represent the volume of transactions that closed higher and closed lower.
You can specify the color of each block.
The highest and lowest values for the set period and the total sum of each block are displayed at the bottom of the box.
Because it was made using a lot of arrays, the total transaction volume was marked separately to check the value.
When expressing the price block according to the trading volume percentage, it was a pity that the minimum pixel was 1 bar, so it could not be expressed delicately.
Although set to bar_time in Box properties xloc, 1 bar was actually the minimum unit of the X-axis value.
The logic used to place the transaction volume for each block is as follows.
1. Divide the difference between the high and low values of 1 LTF bar by the transaction volume .
2. Find the percentage of this LTF bar within each block.
3. Multiply the ratio by the transaction volume again.
4. Store the value in each block cell.
Below are the codes of the people I referred to this time.
1. ‘Time & volume point of control (TPOC & VPOC)’ by quantifytools
2. ‘Volume Profile ’ by LuxAlgo
3. ‘Volume Profile and Volume Indicator by DGT’ by dgtrd
The script is for informational and educational purposes only.
이 스크립트는 최근 일정 기간동안의 거래량을 가격 블록단위로 표시해 주는 볼륨 프로화일입니다.
좀 더 자세한 표현을 위해 차트상의 시간대보다 낮은 시간 프레임상의 OHCLV 값들을 호출하여 표현하였습니다.
낮은 시간 프레임은 조절 가능합니다..
보고 싶은 최근 일정 기간과 블럭 갯수를 조절할 수 있습니다.
트뷰 유료 사용자들을 위해 제공하는 지표와는 비교할 수는 없지만, 오픈 소스상에서는 찾기 힘든 거래량을 표시해 기능을 넣었습니다.
각 블럭에서 거래되었던 양 과 주어진 기간 동안의 총량 대비 퍼센트를 표시해 줍니다.
POC는 거래량이 가장 많았던 블럭의 중간값을 라인으로 표현해 줍니다.
TPOC는 거래량에 상관없이 가장 오랜 시간 머물렸던 블럭을 표현해 줍니다.
반전선은 블럭 단위로 상승 마감과 하락 마감의 거래량 우세를 결정한 뒤, 이웃 블럭들하고 다른 값을 가질 때 나타납니다.
(어떤 뜻을 갖고 만든 건 아니고 그냥 재미로 넣어 보았습니다.)
각 블럭에서 거래되었던 총거래량을 표현해 주며, 또한 설정창에서 상승 마감한 거래량과 하락 마감한 거래량을 표현하는 체크 박스가 있습니다.
각 블럭의 색깔을 지정하실 수 있습니다.
설정된 기간 동안의 최고값과 최저값, 각 블럭을 합친 총량을 박스 하단에 표시해 두었습니다.
어레이를 많이 사용하여 만들었기 때문에 값의 확인을 위해 전체 거래량을 따로 표시하였습니다.
가격 블럭을 거래량 퍼센트에 따라 표현할 때, 최소 픽셀이 1bar 이어서 섬세하게 표현 할 수 없어 안타까웠습니다.
박스 속성을 xloc.bar_time 로 설정하였지만 실제로는 1 bar가 X축 값의 최소 단위였습니다.
각 블록 별로 거래량을 배치 할 때 쓰인 로직은 다음과 같습니다.
1. 1 LTF bar의 하이 와 로우 값의 차이를 거래량으로 나누어 줍니다.
2. 각 블록 안에서 이 LTF bar가 차지 하는 비율을 구합니다.
3. 그 비율에 다시 거래량을 곱해 줍니다.
4. 그 값을 각 블록 셀에 저장해 줍니다.
밑에 제가 이번에 참고한 분들의 코드들입니다.
1. ‘Time & volume point of control (TPOC & VPOC)’ by quantifytools
2. ‘Volume Profile ’ by LuxAlgo
3. ‘Volume Profile and Volume Indicator by DGT’ by dgtrd
Aggregated Volume Profile Spot & Futures ⚉ ＯＶＥＲＶＩＥＷ ⚉
Aggregate Volume Profile - Shows the Volume Profile from 9 exchanges. Works on almost all CRYPTO Tickers!
You can enter your own desired exchanges, on/off any others, as well as select the sources of SPOT, FUTURES and others.
The script also includes several input parameters that allow the user to control which exchanges and currencies are included in the aggregated data.
The user can also choose how volume is displayed (in assets, U.S. dollars or euros) and how it is calculated (sum, average, median, or dispersion).
WARNING Indicator is for CRYPTO ONLY.
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Data Type — Choose Single or Aggregated data.
• Single — Show only current Volume.
• Aggregated — Show Aggregated Volume.
Volume By — You can also select how the volume is displayed.
• COIN — Volume in Actives.
• USD — Volume in United Stated Dollar.
• EUR — Volume in European Union.
• RUB — Volume in Russian Ruble.
Calculate By — Choose how Aggregated Volume it is calculated.
• SUM — This displays the total volume from all sources.
• AVG — This displays the average price of the volume from all sources.
• MEDIAN — This displays the median volume from all sources.
• VARIANCE — This displays the variance of the volume from all sources.
• Delta Type — Select the Volume Profile type.
• Bullish — Shows the volume of buyers.
• Bearish — Shows the volume of sellers.
• Both — Shows the total volume of buyers and sellers.
Additional features
The remaining functions are responsible for the visual part of the Volume Profile and are intuitive and I recommend that you familiarize yourself with them simply by using them.
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If you have any ideas what to add to my work to add more sources or make calculations cooler, suggest in DM .
Also I recommend exploring and trying out my similar work.
Volume-Weighted Price Levels (VWPL)Introduction:
In this script, we will be creating an indicator that plots horizontal lines on the chart for each unique price in a given range, and colors them based on the volume of that price.
Explanation:
First, we define the input "Length" as an integer. This will determine the number of bars back from the current bar to include in the range.
We then create two arrays: "price" and "vol." The "price" array will store all the unique prices in the given range, and the "vol" array will store the corresponding volumes for those prices.
Using a for loop, we iterate through the range of bars and check if the current close price is already included in the "price" array. If it is not, we add it to the array and also add the corresponding volume to the "vol" array. If it is already included, we find the index of that price in the "price" array and add the current volume to the volume stored at that index in the "vol" array.
After the for loop, we find the maximum volume in the "vol" array and use that to find the corresponding price in the "price" array. This will be the price at which we draw the horizontal line.
We then create an array of lines called "lines" and, using another for loop, we iterate through the "price" array and add a line to the "lines" array for each price. The color of each line is determined by the volume of that price, using a color gradient from blue (lowest volume) to red (highest volume).
Finally, we use an if statement to check if the current bar is the last bar in the chart, and if it is, we use another for loop to iterate through the "lines" array and delete all the lines. This is to prevent the lines from being carried over to the next bar and potentially being plotted multiple times.
Conclusion:
This script can be useful for visualizing the price levels with the highest volume in a given range, as well as seeing how volume is distributed among different price levels. It can be helpful for identifying areas of significant buying or selling pressure.
Volume profile zonesHi all!
This script calculates and shows the volume profile for the range of a higher timeframe candle. It then shows support or resistance (/supply or demand) zones based on the volume profiles with the most volume. The defaults are just my preferred settings so feel free to play with them! Also feel free to let me know about bugs and features. I already have a list of features to make, e.g.:
base on pivots
more info zone calculations, e.g. breaks and retests, virgin point of control etc.
add alerts
get rid of getPriceLevels()
get rid of _barVolumeProfile prefix
handle realtime
...
Best of trading luck!
[Pt] Periodic Volume ProfileThis script is an attempt to recreate the Periodic Volume Profile that is built-in by TradingView, with slightly different features. Related blog: www.tradingview.com
This script is based on another script "Volume Profile, Pivot Anchored" by @dgtrd
*Note that only limited number Volume Profile can be displayed on the chart due to limitations on displaying boxes and lines.
Description
This Periodic Volume Profile (PVP) indicator allows trades to view volume profiles for periods longer than the current timeframe. The indicator builds one general volume profile for each new period, set by the user through the “Periodic Timeframe” input parameter.
This script also has the option to extend Point of Control (POC) lines with optional end conditions: Until Bar Touch, Until Last Bar, Until Bar Cross, or None, which extends to the right.
Signals are generated for Naked POC touches and crosses by a triangle symbol and a cross symbol, by default.
Alerts are available for POC touches and crosses.
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.
Volume profile can be used to identify key levels of support and resistance, as well as to assess the overall supply and demand for a security. For example, if there is a high volume of trades at a particular price level, this may indicate that there is a significant level of support or resistance at that price. On the other hand, if there is relatively low volume at a particular price, this may indicate that there is not much interest in trading at that level.
Traders can use volume profile to identify trends, make trading decisions, and set stop-loss and take-profit orders. It can also be useful for identifying patterns such as "pockets of liquidity," which are areas where there is a high volume of trades but relatively little price movement.
It is important to note that volume profile should be used in conjunction with other technical analysis tools and should not be relied upon in isolation. It is also important to consider the overall context and market conditions when interpreting volume profile data.
Key Difference with TradingView's PVP indicator - TradingView's PVP intraday period does not align with standard intraday timeframes as it is determined by # of bars. This script provides volume profiles that aligns with higher timeframe periods.
Enjoy~!
Open Interest Profile (OI)- By LeviathanThis script implements the concept of Open Interest Profile, which can help you analyze the activity of traders and identify the price levels where they are opening/closing their positions. This data can serve as a confluence for finding the areas of support and resistance , targets and placing stop losses. OI profiles can be viewed in the ranges of days, weeks, months, Tokyo sessions, London sessions and New York sessions.
A short introduction to Open Interest
Open Interest is a metric that measures the total amount of open derivatives contracts in a specific market at a given time. A valid contract is formed by both a buyer who opens a long position and a seller who opens a short position. This means that OI represents the total value of all open longs and all open shorts, divided by two. For example, if Open Interest is showing a value of $1B, it means that there is $1B worth of long and $1B worth of short contracts currently open/unsettled in a given market.
OI increasing = new long and short contracts are entering the market
OI decreasing = long and short contracts are exiting the market
OI unchanged = the net amount of positions remains the same (no new entries/exits or just a transfer of contracts occurring)
About this indicator
*This script is basically a modified version of my previous "Market Sessions and Volume Profile by @LeviathanCapital" indicator but this time, profiles are generated from Tradingview Open Interest data instead of volume (+ some other changes).
The usual representation of OI shows Open Interest value and its change based on time (for a particular day, time frame or each given candle). This indicator takes the data and plots it in a way where you can see the OI activity (change in OI) based on price levels. To put it simply, instead of observing WHEN (time) positions are entering/exiting the market, you can now see WHERE (price) positions are entering/exiting the market. This is the same concept as when it comes to Volume and Volume profile and therefore, similar strategies and ways of understanding the given data can be applied here. You can even combine the two to gain an edge (eg. high OI increase + Volume Profile showing dominant market selling = possible aggressive shorts taking place)
Green nodes = OI increase
Red nodes = OI decrease
A cluster of large green nodes can be used for support and resistance levels (*trapped traders theory) or targets (lots of liquidations and stop losses above/below), OI Profile gaps can present an objective for the price to fill them (liquidity gaps, imbalances, inefficiencies, etc), and more.
Indicator settings
1. Session/Lookback - Choose the range from where the OI Profile will be generated
2. OI Profile Mode - Mode 1 (shows only OI increase), Mode 2 (shows both OI increase and decrease), Mode 3 (shows OI decrease on left side and OI increase on the right side).
3. Show OI Value Area - Shows the area where most OI activity took place (useful as a range or S/R level )
4. Show Session Box - Shows the box around chosen sessions/lookback
5. Show Profile - Show/hide OI Profile
6. Show Current Session - Show/hide the ongoing session
7. Show Session Labels - Show/hide the text labels for each session
8. Resolution - The higher the value, the more refined a profile is, but fewer profiles are shown on the chart
9. OI Value Area % - Choose the percentage of VA (same as in Volume Profile's VA)
10. Smooth OI Data - Useful for assets that have very large spikes in OI over large bars, helps create better profiles
11. OI Increase - Pick the color of OI increase nodes in the profile
12. OI Decrease - Pick the color of OI decrease nodes in the profile
13. Value Area Box - Pick the color of the Value Area Box
14. Session Box Thickness - Pick the thickness of the lines surrounding the chosen sessions
Advice
The indicator calculates the profile based on candles - the more candles you can show, the better profile will be formed. This means that it's best to view most sessions on timeframes like 15min or lower. The only exception is the Monthly profile, where timeframes above 15min should be used. Just take a few minutes and switch between timeframes and sessions and you will figure out the optimal settings.
This is the first version of Open Interest Profile script so please understand that it will be improved in future updates.
Thank you for your support.
** Some profile generation elements are inspired by @LonesomeTheBlue's volume profile script
Volume Profile Visible Range For All AccountsVolume Profile Visible Range For All Accounts is displaying volume from price perspective. It’s done by summing volume by the “estimated” transaction price. This version is estimating it based on public volume data so it can be used with any account.
Volume Profile is a powerful tool commonly used by PRO users, to disseminate its use also by users who operate on basic volume data, we have prepared a set of scripts:
Volume Profile For All Accounts – Analyze last 50-20000 bars.
Volume Profile From Date For All Accounts – Analyze all bars since start date.
Volume Profile Range For All Accounts – Analyze bars in a range between start and end date.
Volume Profile Visible Range For All Accounts – Analyze bars in the range visible on the screen.
If after reading script description something is not clear, do not hesitate to ask. We are helping all users.
Script Settings:
| SCANNER VISUALIZATION |
Rows – Number of rows
Width – Width of the visualization.
Position – Position of the visualization:
S_DU – At START of the area (left edge of the screen), DOWN first
S_UD – At START of the area (left edge of the screen), UP first
BE_DU – At BEFORE END of the area, DOWN first
BE_UD – At BEFORE END of the area, UP first
E_DU – At END of the area, DOWN first
E_UD – At END of the area, UP first
Color Up – Color of volume classified as move Up, or Both if separation is off.
Color Down - Color of volume classified as move Down
Color Border – Border color.
Up/Down separate – Draw separate volume classified as Up and Down
Show values – Showing volume values of the bars.
Troubleshooting:
In case of any problems, send error details to the author of the script.
TwV Multi-timeframe Dynamic VRVPMulti-timeframe Dynamic Visible Range Volume Profile
The volume profile is an indicator that displays trading activity over a specified period and plots a histogram on the chart which reveals dominant and significant price levels based on volume and in essence gives a clear indication of Supply or demand at a certain price rather than volume in a certain period.
What makes this VRVP indicator different from other is that it is multi-timeframe and dynamic, meaning that it has the ability to show the POC for a higher timeframe and that it also recalculates the main POC every single time traders adjust the chart.
Most VRVP need to be adjusted to a fixed position for the Main POC, I made an improvement by giving the indicator the ability to identify the bars that are being look at in the screen, this really gives traders the possibility and agility to identify potential support and resistance areas without the need to be changing any settings on the indicator.
Furthermore, giving the ability to the indicator to be multi-timeframe allows traders not only to work with a point of control in one timeframe, but also have a dashed line plotting the Point of Control of a HIGHER timeframe, which could potentially be a strongest support or resistance. The multi-timeframe point of control is fixed only.
This VRVP is completely similar to the official Trading View paid subscription one.
Fundamentals
Point of Control (POC): The price level for the time period with the highest traded volume. The POC is represented by an amber line within the indicator.
Profile High: The highest reached price level during the specified time period
Profile Low: The lowest reached price level during the specified time period.
Value Area (VA): The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
Value Area High (VAH): The highest price level within the value area.
Value Area Low (VAL): The lowest price level within the value area.
Usage
The Resistance and Support levels can be provided by the Volume profile using a reactive method so they constantly change with price action and give a clearer picture to predict future price movements. The Reactive method relies on past price movements at certain price levels and applies a more significant understanding of price reaction at certain meaningful levels
Support levels will be areas where price will be supported on the way down.
Resistance levels will be areas that resist price on the way up.
A basic understanding of this is that Buyers will enter the market at the bottom of a profile and sellers will enter the market at the top of the profile.
Configuration
By the default the indicator has enabled plotting the charts timeframe Volume Profile.
Multi-timeframe option needs to be enabled and desired timeframe chosen from selector menu.
Bars back value for fixed calculation of the multi-timeframe point of control.
Traders can adjust default settings as follows:
Charts timeframe VRVP
Main POC color – Yellow
Positive Volume – Green
Negative Volume – Red
VRVP Width – 100 (Refers to the plotting width for better suiting on small screens)
Multi timeframe VRVP
Enable or disable calculations
Bars back - Fixed numbers of bars for calculation (Consider that max bars back limit is 5000, but it considers 5000 bars on the current charts timeframe, therefore traders need to take into consideration converting number of bars in higher timeframe to charts timeframe)
e.g.
Charts timeframe 15m – MTF desired 1H
1H = 60 min 15m = 15 min – 100 bars back equivalent to (60 min * 100) / 15 = 400
Lower than 5000 then calculations takes place, otherwise calculations will be disabled.
Multi-timeframe POC color = Light blue DASHED
Timeframe desired – 1H by default
Summary box
Enable or disable box
Box shows information regarding the exact price where Main POC and MTF POC reside
Table Size for better fitting on mobile devices
able Position for adjusting to each trader’s preference or use in combination with other indicators
Volume Profile Volume Delta OI Delta [Kioseff Trading]Hello!
This script serves to distinguish volume delta for any asset and open interest delta for Binance perpetual futures.
The image above provides further explanation of functionality and color correspondence.
The image above shows the indicator calculating volume at each tick level and displaying the metric.
The label color outline (neon effect) is configurable; the image above is absent the feature.
The image above shows Open Interest (OI) Delta calculated - similar to how the script calculates volume delta - for a Binance Perpetual Future pair.
This feature only works for Binance Futures pairs; the script will not load when trying to calculate OI Delta on other assets.
Additionally, a heatmap is displayable should you configure the indicator to calculate it.
The image above shows a heatmap using volume delta calculations.
The image above shows a heatmap using OI delta calculations.
Of course, these calculations - when absent requisite data - require some assumptions to better replicate calculations with access to requisite data.
The indicator assumes a 60/40 split when a tick level is traded at and only one metric - "buy volume" or "sell volume" is recorded. This means there shouldn't be any levels recorded where "buy volume" is greater than 0 and "sell volume" equals 0 and vice versa. While this assumption was performed arbitrarily, it may help better replicate volume delta and OI delta calculations seen on other charting platforms.
This option is configurable; you can select to have the script not assume a 60/40 split and instead record volume "as is" at the corresponding tick level.
The script also divides volume and open interest if a one-minute bar violates multiple tick levels. The volume or open interest generated on the one-minute bar will be divided by the number of tick levels it exceeds. The results are, subsequently, appended to the violated tick levels.
Further, the script can be set to recalculate after a user-defined time threshold is exceeded. You can also define the percentage or tick distance between levels.
Also, it'd be great if this indicator can nicely replicate volume delta indicators on other charting platforms. If you've any ideas on how price action can be used to better assume volume at the corresponding price area please let me know!
Thank you (:
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:
Market sessions and Volume profile - By LeviathanThis script allows you to keep track of Forex market sessions (Tokyo, London and New York), as well as Daily, Weekly and Monthly sessions. All of them are accompanied by Volume Profile options where you can view VP Histogram, Point of Control, Value Area High and Value Area Low.
Colors, lines and other design preferences are fully customizable.
* Volume Profile of shorter sessions (eg. Tokyo, London, New York) works better when using lower timeframes such as 15min, 5min, etc.
** Use timeframe higher than 15min when viewing Monthly sessions
Indicator settings overview:
SESSION TYPE
- Tokyo session (1:00 - 9:00 UTC/ GMT )
- London session (7:00 - 16:00 UTC/ GMT )
- New York session (13:00 - 22:00 UTC/ GMT )
- Daily session
- Weekly session
- Monthly session
DISPLAY
- Show Volume Profile (Show or hide Volume Profile histogram)
- Show POC (Show or hide Point Of Control line)
- Show VAL (Show or hide Value Area Low line)
- Show VAH (Show or hide Value Area High line)
- Show Live Zone (Show or hide the ongoing session)
VOLUME PROFILE SETTINGS
- Resolution (The higher the value, the more refined of a profile, but less profiles are shown on the chart)
- Smooth Volume Data (Useful for assets that have very large spikes in volume over large bars, helps create better profiles)
APPEARANCE
- Up Volume color (Pick a custom color for up/ bullish volume profile nodes)
- Down Volume color (Pick a custom color for down/ bearish volume profile nodes)
- POC color and thickness (Pick a custom color and thickness for Point Of Control line)
- VAH color and thickness (Pick a custom color and thickness for Value Area High line)
- VAL color and thickness (Pick a custom color and thickness for Value Area Low line)
- Session box thickness (Pick a custom thickness for the session box. Color is provided automatically with optimal contrast)
** Some VP elements are inspired by @LonesomeTheBlue's volume profile script
Average Volume ProfileAverage Volume Profile is an abstract based on a user suggestion.
The information displayed could be summed up as a volume profile divided by a market profile.
This indicator is a profile which displays the average volume of an area (of price).
It also calculates and displays the highest average volume point (HAV) and the relating value zones (calculated in the similar fashion to a volume profile).
Most of the code is directly from my "Volume/Market Profile" Indicator
I am not entirely sure of how to make use of the information displayed in this indicator or how useful it is.
However, I have added some things I figured would be useful to comprehend this information, such as:
- Read-out for highest average volume
- Read-out for current price average volume
- Read-out for current candle distributed volume (labeled as: "Vol")
- Floating line to visualize the current distributed volume in relation to the rest of the profile.
- Color changing labels for when the current distributed volume is higher than the current price avg volume.
Enjoy!
Market ProfileThis indicator is meant to be used on CME Group futures products.
This indicator is the market profile firstly developed by J. Peter Steidlmayer, and also described in J. Dalton's book Mind Over Markets.
Each period is indicated by a color in the profile and overlayed on price by means of the bars of the same color, and the letter on top of it.
In addition to that, the rotation factor (see Mind over markets book) is indicated inside the 30min bar, under the letter.
It is possible to choose the session between different options. Each option changes the open and the close of the regular trading hours session.
It is possible to see the profile shifted on the left of the session open, or overlayed to the session.
The following plots are visible intraday:
Previous day's settlement price (white circles)
Previous day's Value high (red continuous)
Previous day's Point of control (orange continuous)
Previous day's Value low (green continuous)
Current day's Value high (red dashed)
Current day's Point of control (orange dashed)
Current day's Value low (green dashed)
Current day's value area is also highlighted by the light blue background.
If you would like to have your own custom version of this script, you can contact me privately.
Feel free to show your appreciation by donating:
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Multiple Popular Prices (x16)Up to 16 popular prices in 16 periods.
Lookback Period: Up to 5,000.
Support 01 volume profile (histogram) on price axis for the last period with up to 100 price ranges.
Histogram of 3 colors (up/down/sideways).
Markets: All.
Timeframes: All from 10s.
Usage: Price moves slowly in the popular price area (PPA) and moves fastly in the unpopular price area (UPA). When price breakouts a PPA, it could be forming an entry to a new PPA or an existing PPA. PPA of a period will move up if price continuously increases or is in an uptrend, and vice versa. It means that this indicator is led by price. Note that, when short-term PPA is higher/lower than long-term PPA, price did move and it is not a buy/sell entry.
Note: If calculation is timeout (“Loop takes too long to execute (> 500 ms)”), try to remove the indicator and reapply it, or try to increase the timeframe, or try to reduce the number of periods used to calculate popular prices.
PWV - Price Weighted VolumeThis indicator charts
PWV = volume * close
in order to better visualize exchange volume.
TAS Market Profile Map [TASMarketProfile]TAS Market Profile Map (aka “ TAS Market Map ”) displays volume accumulation at price using our attractive color-coded sideways histogram overlaid onto the price data pane. Hunt for high reward-to-risk opportunities with our favorite “Alligator Jaws” chart pattern setup that reveals significant volume gaps and actionable signals. TAS Market Map can paint up to 5 Maps simultaneously across time windows customized by the user.
TAS Market Map has 4 distinct colored lines:
RED ZONE – Designates an area where there are many market participants willing to transact. This zone of red lines grouped together is known as the “value area” and contains approximately 70% of the volume transacted in that particular section of the price map within the overall Market Map.
YELLOW LINE – Each TAS Market Map will contain at least one yellow horizontal line. This line is called the “Point of Control” (POC) and it represents the price where the most executions have occurred. In the case of multiple yellow POC lines, the one that extends closest to the price axis is considered the “Master Point of Control.”
PURPLE ZONE – Represents an area where there are less people willing to transact and is referred to as being “outside of value.”
BLUE ZONE – Designates areas where there is little interest on the part of commercial or institutional professionals to transact. When these areas occur on the perimeters of the TAS Market Map, they are referred to as “runaway gaps” or “rejection tails.”
∟ THE ALLIGATOR JAWS CHART PATTERN:
A popular chart pattern utilizing TAS Market Map is called the “Alligator Jaws” setup. Due to its unmistakable appearance similar to the side profile of an alligator with its mouth open, this chart pattern seeks to exploit when there are two significant Points of Control (yellow lines) with a large volume gap in between. Enter the trade as the market breaks outside of the value area (red zone) in the direction of the volume gap (inside the open jaws), place a stop loss on the other side of the Point of Control and preferably also across the value area (red zone). Seek to take profits at either 50% of the way through the volume gap or a more optimistic target just ahead of entering the opposing jawline (red zone value area). This trading technique can be applied to both long and short side entries.
Below you will find a couple examples of this chart pattern.
∟ INPUT SETTINGS:
By default, three TAS Market Maps will appear. You can activate the 4th and 5th Market Maps easily by checking the boxes in the Input settings. TAS Market Map updates automatically at the close of each bar after it has calculated all of the volume from the closed bar in addition to the completed OHLC data (Open, High, Low, Close). This happens in a matter of seconds at each bar close. The analysis is not static, but rather a rolling period of analysis at each bar close.
THERE ARE 3 SETTINGS FOR EACH MARKET MAP :
>>> # of Lines – This represents how many horizontal lines you want to comprise the Market Map so it generates a transparency customization. The default is 50 lines. If you increase the number to, for example 100, then the Market Map will appear more prominent and less transparent on the chart. Similarly, a lower input setting would remove lines and make it more transparent.
>>> BarStart – This setting dictates the starting point for that particular Market Map analysis based on the number of bars from the current bar. The default is 50 bars so this means the start of the 1st Market Map begins 50 bars from the present. At the close of each new bar, the analysis rolls to the most recent 50 bars automatically. Therefore a setting of 100 would start the analysis based on the most recent rolling 100 most recent bars.
>>> BarStop – This setting dictates the end point for the analysis of that particular Market Map. By default, the 1st Market Map will have a 0 which means it runs analysis through to the most recent bar.
OTHER NOTES ABOUT SETTINGS:
You’ll notice that by default the input settings for BarStart and BarStop for all 5 of the Market Maps are set to 50 bar increments and don’t overlap. For example the StopBar of Market Map #2 is 51, whereas the StartBar for Market Map #1 begins at 50. It is best practice to have consistency regarding the number of bars from the start and stop of the analysis.
Although not as popular, if you want to flip the orientation of the Market Map to paint from right to left instead of the default left to right, simply change the StartBar to 0 and StopBar to 50 and you’ll achieve this preference.
∟ INTERPRETATION AND RULES:
When the market is inside the red zone “value area” of the Market Map, it tends to move sideways within the range of the zone. Therefore you can look to enter trades near the top and bottom of the red zones with potential exits near the POC (yellow line) or opposing side of the red zone value area.
When price does break and close outside the value area zone, then the value area zone becomes new support or resistance and this can be leveraged for trailing stops. The most aggressive trailing stop would be after the market has penetrated into open space away from the value area, moving the stop to just back inside the value area. This would significantly reduce the trade risk.
The use of multiple Market Maps allows the trader to anticipate upcoming areas of support and resistance when the market moves beyond the scope of the current 1st Market Map. Historical Market Maps provide valuable information regarding where commercial interest existed in the past and likely to revisit in the future.
When multiple Market Maps form and the value areas align or overlap across their respective different time windows, these tend to be significant attraction zones for the market and a trader can expect sideway trading within the red value areas zones. Prudent trading is to observe the market conditions present and you the trader must adapt your trading mode to match, or not trade at all. In other words, you must trade the range during times when the market is in the value area zones and trade breakout when confirmed moves occur outside the value area zones.
In the case of a Market Map that develops “multiple distribution” areas (i.e. multiple developed value areas within Market Map), we anticipate a trending move
with price continuing in the direction the value areas are forming in relation to one another and in relation to the direction multiple Market Maps are forming.
Example of multiple Market Maps forming lower and revealing the bearish market trend:
Trade Well My Friends,
TAS Navigator + TAS Ratio + TAS Yield Zones [TASMarketProfile]This bundle of 3 TAS Market Profile indicators reveal when markets are gaining momentum, exhausted and reaching critical overbought/oversold conditions. The indicators display on a space-saving bottom pane and provide multi-perspective analysis that yield confidence in what direction to trade and when. The TAS Navigator, TAS Ratio, and TAS Yield Zones can be applied to any financial market such as stocks, ETFs, futures, Forex and digital currencies.
∟ ABOUT TAS NAVIGATOR:
TAS Navigator is a versatile indicator that combines several signals to help you manage your trades and avoid unfavorable situations. At a glance, the Navigator can provide the trader with useful information about underlying trading conditions for any time frame chart. The Navigator is comprised of three primary components – the histogram, the moving average and the zero line.
The histogram consists of the vertical bars plotted above and below the horizontal “zero line.” The bars are color-coded to provide the following information:
NEON GREEN / RED – The directional move continues to gain momentum.
DARK GREEN / RED – The buying or selling momentum is falling off.
MAGENTA – Exhaustion warning and the move has reached “peaking” conditions that may be difficult to maintain. Markets are likely to run sideways for a period of time or a direction change may be near.
The moving average (MA) is the blue line that travels horizontally across the Navigator and provides a relative measure of the overall levels of buying or selling. You will notice that the dots capping the histogram bars change from green to red as they move above or below the MA. The color of these dots tells us the following:
GREEN DOTS – The buyers are currently in control.
RED DOTS – The sellers are currently in control.
The zero line is the horizontal line around which the histogram plots. It provides a reference point for the larger momentum shifts. It is color-coded in the following manner:
CYAN – The current market phase is trending / unbalanced.
YELLOW – The current market phase is sideways / balanced.
INTERPRETATION AND RULES:
The TAS Navigator’s inherent ability to visualize the overall pulse of the market can inform your trading decisions in several ways:
>>> If the histogram is neon green or red, the trader should look for trading opportunities in the appropriate direction (green = long; red = short) and hold for increased profits as long as the bars remain neon green or red.
>>> If magenta bars appear, the trader knows to tighten stops and look for profit-taking opportunities because the trend has reached peaking conditions.
>>> When the histogram switches to dark green or red – indicating momentum is slowing – the trader can look to tighten stops and consider technical areas for reentry.
>>> Once the histogram crosses the MA and the capping dot changes to the opposite color of the histogram bar, a trader knows that they can begin looking for countertrend trade opportunities.
>>> Most importantly, until that dot changes color, the trader knows that the odds do not favor looking for trading opportunities against the current trend.
>>> The relative peaks of the histogram bars can also provide valuable information. As consecutive histogram peaks move further away from the zero line, price should extend the trending move. When consecutive histogram peaks become closer to the zero line, the price should create a lower high or higher low soon.
>>> A trend line connecting histogram peaks can be used to identify trading levels based upon momentum reaching the necessary level to touch the projected trend line.
>>> Trading opportunities can also be found when divergence occurs between the histogram and price. For example, consecutive histogram peaks move further away from zero line, but price cannot extend the trend.
∟ ABOUT TAS RATIO:
TAS Ratio is a leading indicator which helps forecast short-term price movements. It is best used for gauging targeted areas for entry and exit points. It was designed to identify when price movement is confirmed by volume and volatility as well as when market moves lack momentum, conviction and follow through. TAS Ratio levels are determined by a defined time within a 24-hour period and applicable for intraday charts only. The analysis can be applied to any liquid financial instrument and provides target trading zones in either direction.
INPUT SETTINGS FOR TAS RATIO:
There are 3 inputs for TAS Ratio and below you’ll find the default settings:
Ratio RangeBars: 10
Ratio AverageBars: 3
Ratio MABars: 3
>>> Ratio RangeBars – Sets the desired lookback period. Default = 10.
>>> Ratio AverageBars – Sets the smoothing factor and should be the same as MABars setting. Default = 3.
>>> Ratio MABars – Sets the smoothing factor and should be the same as AverageBars setting. Default = 3.
CONFIGURATION NOTES:
As a rule, the RangeBars period should be twice (or more) than the AverageBars and MABars setting. Remember that the AverageBars and MABars settings should be equal. For example, 6/3/3 or 8/4/4 would be minimum separation.
Faster time charts may prefer slower indicator settings for smoother readings. For example, on 30-minute charts or lower the settings for RangeBars period and AverageBars and MABars could be 10/5/5 or even 16/8/8 respectively.
TAS RATIO DISPLAY:
TAS Ratio – Displays more volatile orange-colored line
Moving Average – Displays smoothed moving average purple-colored line
Note that the default colors can be adjusted in the Style settings.
INTERPRETATION AND RULES:
TAS Ratio is displayed on the same pane and scale as TAS Navigator in which readings of +40 is considered overbought and -40 is oversold.
TAS Ratio is especially effective when traders are aiming to time entry points into emerging intraday trends which can be observed when the price is making new “higher lows” or alternatively when price is making new “lower highs.”
TAS Ratio is a sensitive indicator by nature and should be viewed as a tool for fine-tuning a more granular entry or exit within the scope of other TAS Indicators.
TAS Ratio is useful in confirming when price may be at an area of divergence to locate and target higher probability entries and exits.
In general, price should move freely in the same direction of the indicator and in a proportionate range of movement.
When price fails to move proportionately, as much as TAS Ratio moves or stalls, this divergence alerts you to focus on immediate areas of support and resistance.
When price stalls and TAS Ratio does not stall, this is an indication to seek confirmation for a valid counter-trend trading opportunity.
Pay attention to TAS Ratio (orange line) crossovers above and below the Moving Average line (purple line), but also observe the trajectory and whether the Ratio line is pulling away and creating greater distance from the Moving Average line. Increasing distance is a sign of strength of move in that direction.
∟ ABOUT TAS YIELD ZONES:
TAS Yield Zones provides a valuable visual warning via a yellow background color when TAS Navigator and/or TAS Ratio indicators are exceeding specific overbought or oversold threshold lines dictated by the user. The indicator is visible in the same bottom pane as these two indicators. The user controls how extreme of the overbought or oversold condition they mandate in order to trigger the “Yield Zone” warning for each indicator based on the inputs for the TAS Yield Zones threshold lines.
INPUT SETTINGS FOR TAS YIELD ZONES:
Within the Input settings, you can activate or deactivate the visibility of TAS Yield Zones for TAS Navigator or TAS Ratio. By default, both will be visible. There are 4 inputs for TAS Yield Zones and below you’ll find the default settings:
Yield Zones Nav Overbought Line: 40 (red line by default)
Yield Zones Nav Oversold Line: -40 (green line by default)
Yield Zones Ratio Overbought Line: 40 (gray line by default)
Yield Zones Ratio Oversold Line: -40 (gray line by default)
The farther away the Inputs are from the 0 line, the stronger the move must be bullish or bearish in order to get to the threshold lines. For instance, Inputs of 50/-50 would require a more substantial move than 30/-30 settings. Additionally, the user can adjust the coloring of the TAS Yield Zones inside the Style settings.
TAS Yield Zones are best used in conjunction with TAS Navigator and TAS Ratio so the user can visually see when the threshold lines are near being approached and exceeded. When all three indicators are visible on the pane, you can see when there is a confluence of overbought or oversold conditions simultaneously on both TAS Navigator and TAS Ratio indicators and when exhaustion warning conditions are present. When these three conditions occur, there is a likelihood that a move in the opposite direction (or at a minimum a sideways condition) may be near.
Trade Well My Friends,
TAS Boxes + TAS Vega + TAS Compass [TASMarketProfile]This bundle of 3 TAS Market Profile indicators provides a shaded background that reveals directional bias, colored price bars show clearly when breakout conditions are bullish (green) or bearish (red) as well as 3 real-time dotted lines that show developing commercial balance areas known as “value areas.” These TAS Boxes 3 lines are calculated in real-time and leveraged to identify trade entry zones, trailing stops and targets. The 3 indicators can be activated and applied to a chart simultaneously (as shown) or individually in the Inputs settings tab. This description contains descriptions for all 3 indicators in the order of TAS Boxes, TAS Vega and TAS Compass so you’ll need to scroll below to get to the one you want insight.
∟ ABOUT TAS BOXES:
TAS Boxes (also known as TAS Dynamic Profile) offers a dynamic representation of developing commercial balance areas known as “value areas” and are depicted with 3 colored horizontal dotted lines. Note that the thickness of the dotted lines may be adjusted in the Style settings.
Red Line- Supply / High Value Area (HVA) / Resistance
Cyan Line- Point of Control (POC)
Green Line- Demand / Low Value Area (LVA) / Support
The TAS Boxes calculate and display in real-time intrabar and are finalized at the close of the bar. The levels may dynamically update intrabar and move and this is viewed as foreshadowing of where new value areas may be attempting to appear next. When the market is between the top and bottom lines, the market is considered “in value” or “in balance.” When the market closes outside the top or bottom lines, the market is considered out of value/unbalanced and in breakout mode in that direction.
INPUT SETTINGS FOR TAS BOXES:
There are 3 inputs for TAS Boxes and below you’ll find the default settings:
MinSignal_123: 2 (only options are 1, 2, or 3)
Length: 7
MapLength: 7
MinSignal_123 -- Measures how established the commercial interest creating the balance area must be to create a new TAS Box. In other words, this input is a measure of the strength of the box.
Length –- Takes into consideration the relative “momentum” behind the move and how extended the move must be before the formation of new TAS Box levels.
MapLength –- Specifies the number of bars of data used to create the parameters of the TAS Box.
In summary, the first two inputs determine how often a new TAS Box will appear. The higher the input numbers the less often and harder it is to establish a new TAS Box, and vice versa. The last input simply determines how much data is included in the calculation of the new TAS Box.
While we recommend the default 2-7-7 as standard inputs for most traders as they work well with any tradable instrument with sufficient liquidity, other input combinations can be explored per the user’s preferences for varying sensitivity to market conditions and how recent of market conditions. Other settings to consider are 2-14-7 or 3-4-50. We invite the user to explore the cause and effect of changing the settings but doing so only after they have mastered an understanding of the strategy deployment with the defaults. The vast majority of users do not change the default settings.
WHAT MARKETS AND TIMEFRAMES CAN BE TRADED?
TAS Boxes can be displayed on Stocks, ETFs, futures, Forex and digital currencies. TAS Boxes can be applied to a chart of any time frame (e.g. 1-minute, 5-minute, 20-minute, daily, weekly, etc.) and will also function with many other style charts such as Range and Renko. Boxes displayed on longer time frames designate more significant balance areas and can be used to locate higher probability entries. Boxes on shorter time frames can be used to identify if the tradable instrument is currently in balance or breaking out, and pinpoint entries accordingly.
INTERPRETATION AND BASIC RULES:
HEIGHT OF BOXES: The height of the TAS Boxes from top line to bottom line is a measure of volatility. When taller Boxes are present and subsequent Boxes expand, this means the volatility of the market has increased. When the height of the Boxes is smaller or contracting, then we are experiencing a market in decreasing volatility or consolidating.
WIDTH OF BOXES: The width of the TAS Boxes are a measure of significance. The longer TAS Boxes have remained at the same levels, the higher the impact they will generally have as support or resistance levels, and in the instances they are breached the market may experience fast and vertical movement.
The TAS Boxes are used to identify high-probability zones for trading both inside the range of the Boxes and also when in breakout mode outside the Boxes:
>>> When price is trading within the boundaries of a normal to wide range commercial
balance area, we can consider trades within the range of the Boxes and should look for entries around the support (green line) or resistance (red line) areas with profit targets around the POC (cyan line) or opposite boundary.
>>> When taking trades near both the upper and lower boundaries, we like to see the POC
near the middle of the box’s range. This is known as a “symmetrical box” as pictured below.
>>> If the POC is plotted tightly close to or at the same price level as the green or red line, we refer to this as forming a “wall” or "plywood" and anticipate stronger commercial interest providing support or resistance in those areas.
>>> When trading above or below the current box, price is said to be in breakout/breakdown mode. During these modes, one should be getting out of any opposing positions that are not in the direction of the breakout. Not all breakout/breakdowns are created equal. Moves outside of TAS Boxes when the vertical distance from Top to Bottom is minimal will tend to have more powerful moves, especially in instances when there are recent long-range bars in the direction of the break.
>>> When markets are breaking out or down outside of Boxes, if there is sizeable space before you encounter recent historal TAS Boxes levels that is favorable for good follow through of the move. Prior TAS Boxes levels do serve as as areas the market may encounter friction and go sideways for a period of time.
MANAGING RISK WITH STOP LOSSES:
We highly recommend the use of stop losses when trading. You can place stop losses outside of the 3 lines of TAS Boxes and trail them behind the market as new Boxes appear in the direction of the trade. You may also move trailing stops among the 3 levels to suit your risk tolerance (e.g. when market is in breakout mode, trailing it from out the Boxes to outside the POC level or opposing level). You can start your initial stop outside the opposite of all 3 lines or on the other side of the POC for lower risk.
∟ ABOUT TAS VEGA:
TAS Vega changes the coloring of the price bars to provide a more meaningful interpretation of when markets are in balance (based on TAS Boxes) or in bullish/bearish breakout mode. There are four colors generated for TAS Vega:
GREEN – Bullish breakout / Don’t be short
RED – Bearish breakdown / Don’t be long
ORANGE – 1st bar back inside TAS Boxes after prior move outside.
GRAY – Balanced, each subsequent bar after the 1st bar closes inside Boxes.
INTERPRETATION AND BASIC RULES:
WHEN VEGA IS GREEN:
Don’t be short.
Consider longs only or retain existing long positions.
Entering on the bar close above the Boxes is higher probability than intrabar entry.
Many consecutive bar closes above Boxes increases probability of eventual move higher.
WHEN VEGA IS RED:
Don’t be long.
Consider shorts only or retain existing short positions.
Entering on the bar close below the Boxes is higher probability than intrabar entry.
Many consecutive bar closes below Boxes increases probability of eventual move lower.
WHEN VEGA IS ORANGE:
If orange due to closing back inside Boxes of your initial entry Box, hold.
If orange due to closing inside a new Box appearing in the direction of your trade (higher Boxes for longs, lower Boxes for short) consider this a potential 1st tier profit-taking opportunity for multi-lot/shares positions. If single units, exit is at the trader's discretion contingent on the extent of the move.
It is prudent risk management to also use the appearance of orange closed bars as a reminder to trail your stop loss behind the new TAS Boxes levels.
Many times you may see many orange bars over a series of bars (not consecutive, however) and this means the market continues to explore both sides of TAS Boxes and is indecisive about intentions. Be cautious at these times.
WHEN VEGA IS GRAY:
Gray bars simply means the bar has closed in balance within the value area of TAS Boxes.
Gray bars are not a cue to exit a position necessarily. It is just a visual that the bar has closed in the value area. Often a trending move will have many periods that the market closes back inside new Boxes that are appearing in the direction of the trend and your largest trades will require that you simply adjust your trailing stop rather than exit with gray bars.
It is prudent risk management to also use the appearance of orange closed bars as a reminder to trail your stop loss behind the new TAS Boxes levels.
Many times you may see many orange bars over a series of bars (not consecutive, however) and this means the market continues to explore both sides of TAS Boxes and is indecisive about intentions. Be cautious at these times.
The user can adjust the coloring of the TAS Vega bars in Style settings.
∟ ABOUT TAS COMPASS:
TAS Compass changes the background color of the chart to reveal the directional bias of the market. It may be applied to charts in any timeframe for stocks, ETFs, futures, Forex and digital currencies.
There are two colors generated for TAS Compass:
GREEN – Bullish directional bias
RED – Bearish directional bias
INTERPRETATION AND BASIC RULES:
The directional bias is established (or changes) when a bar closes outside of TAS Boxes levels. When a market closes above the TAS Boxes, it will establish a bullish bias (green background) and this will remain intact until there is a close below the TAS Boxes. At the time there is a bar close below the TAS Boxes, then the TAS Compass bias changes to bearish bias (red background). This sequence continues back and forth indefinitely. When using TAS Compass, one should still follow the prudent rules and best practices of TAS Boxes as there may be opportunities to exit a losing position sooner by doing so even in the instance a TAS Compass directional bias has not changed.
TAS Compass can be used as a stand-alone visual cue on a chart, but will have accentuated value when used in conjunction with TAS Boxes and TAS Vega indicators included within this bundle.
Below is an example showing TAS Compass with TAS Boxes in order to show how the closes outside of TAS Boxes is the trigger to the background color change logic.
Trade Well My Friends,
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!
Volume with forceThis indicator shows the classic stock volume chart with a plottable 20 periods SMA line. Along with this, it shows to the top right of the pane a percent, showing the current "volume force".
This force is calculated as the SMA of the last 3 volume candles excluded the current candle (only counts finished candles) and then compare it with the standard 20 periods volume SMA.
Some examples for a better understanding:
A value of 200% means that the SMA of last 3 candles is equals to 2 times of the 20 periods volume SMA
A value of 100% means that the SMA of last 3 candles is equals to the 20 periods volume SMA
A value of 50% means that the SMA of last 3 candles is equals to 1/2 of the 20 periods volume SMA
A value of 25% means that the SMA of last 3 candles is equals to 1/4 of the 20 periods volume SMA
If the value is above 100%, the background will be green, red otherwise. A green value means that the symbol is having a nice volume income.
Customizable settings
Timeframe: the main TF to plot volume and calculate force
MA Length: the length of the standard volume SMA to plot (and to compare for the force calculation)
Diff force length: the length of the last candles (excluded the current candle) to compare with the standard volume SMA
Show moving average: if checked, plots the standard SMA
Show volume force: if checked, shows to the top right the volume force
Sonarlab - Volume ProfileThis Volume Profile is a charting tool that traders use to show the traded volume amount over a given time period. The reason we build this volume profile indicator is to confirm S&D zones and show where the most volume is resting in a specific given time.
Settings
- Auto Placement: Option to have the Volume Profile automatically placed
- Manual Placement: Able to place and move the Volume Profile anywhere of your choosing
- Bull vs. Bear Candle Style
- Up/Down Candle Style
- Highlight Point of Control (PoC)
Usage:
Focused on combining with SMC:
When trading SMC, normal volume profiles can be confusing and hard to trade - since it will catch the volume on the overall chart you're on. When trading SMC, we are interested in catching specific parts in a range which defines supply or demand.
What makes this volume profile different?
The Sonarlab Volume Profile is focused on combining with SMC, integrated with Smart Money Concepts (SMC) levels, such as the Swing High and Low levels. The Indicator will automatically find the most applicable position using our custom Swing Levels to provide users with maximum utility with zero effort. Where other volume profiles are more focused on overall volume, this volume profile is focused on volume in a specific range on automation using swing points in the market.
As in this example, the high volume areas are matching with traditional supply and demand zones. The price level with the most volume is highlighted by the "point of control" (POC), displayed by the yellow line. We can consider price will react from those "high volume" areas and trade more easily through "low volume" areas.
