Indicator Purpose Volume Profile Analysis: 1.High Traded Nodes: Displays high trading volume at specific price levels, typically representing the market's consolidation zones or value areas. These areas may be key points where the price tends to linger or reverse. 2.Average Traded Nodes: Shows average levels of trading volume, helping to identify regular trading activities within this price range. 3.Low Traded Nodes: Indicates low trading volume at specific price levels, usually corresponding to supply and demand zones or liquidity areas. These areas may become important points for future price breakouts or retracements.
Sentiment Profile Analysis: 1.Bullish Nodes: Displays price levels with stronger buying activity or money flow, indicating that buyer strength is higher at these levels, which may drive prices upward. 2.Bearish Nodes: Displays price levels with stronger selling activity or money flow, indicating that seller strength is higher at these levels, which may lead to price declines.
Heatmap Display: 1.Heatmap Generated from Volume or Sentiment Data: Helps quickly identify the market's activity level and sentiment inclination at different price levels.
Additional Features: 1.Consolidation Zones: Identifies and displays areas where prices are consolidating, helping to determine whether the market is in a ranging phase. 2.Profile Price Levels: Marks price levels with the highest trading volume or significant changes in sentiment, aiding in decision-making.
Meaning of Different Colors Volume Distribution Section: 1.High Traded Nodes: Default Color: Yellow (#ffeb3b) Meaning: Indicates very high trading volume at these price levels, typically areas of market focus.
2.Average Traded Nodes: Default Color: Blue (#2962ff) Meaning: Indicates that trading volume at these price levels is at an average level, representing regular trading activity zones.
3.Low Traded Nodes: Default Color: Red (#f23645) Meaning: Indicates lower trading volume at these price levels, potentially representing supply and demand or liquidity zones.
Sentiment Analysis Section: 1.Bullish Nodes: Default Color: Teal (#26a69a) Meaning: Indicates stronger buyer strength at these price levels, reflecting a bullish market sentiment.
2.Bearish Nodes: Default Color: Red (#ef5350) Meaning: Indicates stronger seller strength at these price levels, reflecting a bearish market sentiment.
Other Colors: 1.Consolidation Zones: Default Color: Semi-transparent Blue (#2962ff, 73% opacity) Meaning: Marks areas where prices are consolidating, helping to identify if the market is in a ranging state.
2.Heatmap Colors: Based on Volume or Sentiment Data: The depth and hue of the colors vary according to the set transparency and options, typically used to emphasize the level of activity and sentiment inclination at different price levels.
Usage Scenarios 1.Identifying Key Price Levels: By using high traded nodes and sentiment nodes, traders can identify potential support and resistance levels. 2.Assessing Market Sentiment: Bullish and bearish sentiment nodes help traders understand the dominant market sentiment, assisting in making buy or sell decisions. 3.Monitoring Consolidation Zones: Identifying consolidation zones can help traders determine whether the market is waiting for a breakout and the potential direction of that breakout. 4.Optimizing Entry and Exit Points: Combining volume distribution and sentiment analysis allows traders to more accurately select optimal times for entering and exiting trades.