Volume VA with POC Based Percent Deviations

This is a slightly different take on my previous version that plotted fibonacci retracement levels based on the POC to value area high/low.

This indicator is also based on the volume value area that plots developing POC, VAH, and VAL as well as historical levels. However, instead of plotting fib levels, this script automatically projects percentage deviation levels from the current POC. This can help identify potential overextensions, target areas, or mean-reversion setups.

Knowing where price is and the change in price relative to areas of interest can help identify true value and market imbalances. Hence the name VALUE AREA :)

The percent deviation levels are dynamically plotted in relation to the developing POC. As POC shifts so do the % levels.

Gradient Value Area Fill: Instead of a static color, the Value Area is filled with a dynamic gradient. The adjustable color and transparency shift is based on the current price's distance from the POC, giving you an intuitive feel for where price is relative to the POC.

Enjoy!

"May the fourth leaf bring you extra luck!" 🍀