Volume Heatmap 2024 | NXT2017 Christmas Edition

Hi big players around the world,

I wish you a merry christmas time.

Today I have a nice present for you: a new volume heatmap indicator for free using!


HISTORY

My first volume heatmap project got a lot of feedback and a big demand. You can find it here:

In this time pinescript version 4 was the newest one and I worked the first time with arrays.

Today we have pinescript version 5 and some new features. This is why I tried again with matrix function and the results are better than I expected.


HOW IT WORKS

The indicator calculates similar like the volume profile. It looks back and every volume where the close price is on the same row area, the volume will cumulated. How much rows the new chart view is showing, you can choose manually.

The mind behind this is to find high volume levels, where high volume catch the price in a range or get function as support/resistance line.

PICTURES

I hope it helps for your trading. You are welcome to give some comments.

Merry christmas and best regards

NXT2017

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updated some translation