Volume Profile [ZeroHeroTrading]
Volume Profile by ZeroHeroTrading provides Volume Profile information fully leveraging the high/low values associated with the volume.
You can change the indicator settings as you see fit to achieve the best results for your use case.
Algorithm Notes
The indicator retrieves high/low/volume data within the set look back period (number of bars back). It then sorts high/low boundaries and accumulates the volume within the boundaries. Finally, it draws the Volume Profile as a filled out polyline joining all the boundaries together with the relevant accumulated volume proportion, and the POC as a box between the boundaries with the highest accumulated volume starting from the look back.
Features
Settings
You can change the indicator settings as you see fit to achieve the best results for your use case.
Algorithm Notes
The indicator retrieves high/low/volume data within the set look back period (number of bars back). It then sorts high/low boundaries and accumulates the volume within the boundaries. Finally, it draws the Volume Profile as a filled out polyline joining all the boundaries together with the relevant accumulated volume proportion, and the POC as a box between the boundaries with the highest accumulated volume starting from the look back.
Features
- It draws the Volume Profile and POC on the chart.
- It allows for setting the number of bars to look back for retrieving the volume information.
- It allows for setting the length of the Volume Profile being displayed (as a number of bars).
- It allows for setting the offset from the last bar for the Volume Profile being displayed (as a number of bars).
- It allows for setting the orientation of the Volume Profile being displayed from right to left and vice versa.
- It allows for setting the colors for the Volume Profile and POC.
- It allows for turning the POC functionality on/off.
Settings
- Volume Lookback field: Sets number of bars to look back for retrieving the volume information. Default is 200. Minimum is 10 and maximum is 1000.
- Profile Bar Length field: Sets length of the Volume Profile being displayed as a number of bars. Default is 50. Minimum is 10 and maximum is 100.
- Profile Bar Offset field: Sets offset from the last bar for the Volume Profile being displayed as a number of bars. Default is 10. Minimum is 0 and maximum is 100.
- Profile Orientation dropdown: Selects Volume Profile orientation. Left is -right to left- and Right is -left to right-. Default is Left.
- Profile Color select: Selects Volume Profile color. Default is blue (100% opacity).
- Show POC checkbox: Turns on/off POC. Default is on.
- POC Color select: Selects POC color. Default is orange (80% opacity).