The HTF Candle Volume Thermometer is a powerful volume heatmap tool that visualizes higher timeframe candle volume distributions directly on the chart. It helps traders identify key price levels where liquidity is concentrated, allowing for more informed trading decisions.
⯁ KEY FEATURES
Higher Timeframe Volume Mapping Uses higher timeframe (HTF) candles to create a heatmap of volume distribution within each candle.
Dynamic Volume Heatmap Colors each HTF candle background green for bullish and red for bearish, with a gradient heat overlay highlighting volume concentration.
Max Volume Point Identification Marks the level within each HTF candle where the highest volume was recorded, using red for the most significant volume area.
Fully Customizable Display Users can adjust the HTF timeframe, color settings, and resolution to tailor the indicator to their trading preferences.
Segmented Volume Distribution Each HTF candle is divided into smaller levels, allowing traders to see volume changes within the range of each candle.
Key Level Detection Max volume points often act as key support and resistance levels where price is likely to react, helping traders refine their strategies.
⯁ HOW TO USE
Identify Liquidity Zones Use the max volume levels to determine areas where price is likely to find support or resistance.
Assess Trend Strength Compare volume distribution between bullish and bearish HTF candles to gauge market momentum.
Optimize Trade Entries & Exits Look for price reactions at high-volume areas to refine stop-loss and take-profit levels.
Adjust Heatmap Resolution Customize the resolution setting to get a more detailed or broader view of volume segmentation within HTF candles.
⯁ CONCLUSION The HTF Candle Volume Thermometer is a must-have tool for traders who want to integrate volume analysis with higher timeframe structures. By visualizing volume heatmaps within each HTF candle, this indicator helps traders pinpoint critical liquidity zones and key price levels.