CustomRange VolumeProfile
- Indicateurs
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Sompop Jittrakul
Trader since 2007 and owner of www.ThailandTraderClub.com - www.ThailandTradingSchool.com - www.TradingStat.me - Version: 1.0
CustomRange Volume Profile
This indicator builds a Volume Profile for any time range you choose on the chart. Instead of resetting per day, it lets you pick the exact start and end of the range with two vertical lines, and draws the horizontal volume histogram together with the three key levels: the Point of Control (POC), the Value Area High (VAH) and the Value Area Low (VAL).
Key Features
- Small control box on the chart with a single ON / OFF button.
- When ON, two vertical lines appear - drag them to set the start and end of the range.
- The volume profile is calculated only between the two lines and updates as you move them.
- When OFF, the two lines and their profile are hidden.
- The control box can be dragged to any position on the chart.
- POC, VAH and VAL plotted and labelled for the selected range.
- Adjustable Value Area percentage, resolution, profile width and full colour control.
- Choose the timeframe used to build the volume, independent of your chart timeframe.
- Works on any symbol and any timeframe.
How It Works
Set the two vertical lines around the area you want to study. The indicator reads price and volume from the calculation timeframe you select, distributes each bar's volume across the price range it covered, and stacks the result into horizontal bins between the two lines. The bin with the highest volume becomes the POC. Bins are then added around the POC until the chosen Value Area percentage of total volume is reached, defining the VAH and VAL boundaries.
Input Parameters
- rows (resolution) - number of price bins; higher = finer detail.
- Value Area (%) - share of total volume included in the Value Area.
- TF used to compute volume - timeframe used to build the profile.
- profile width (% of range) - horizontal length of the histogram relative to the distance between the two lines.
- profile bar color - colour of bars outside the Value Area.
- Value Area bar color - colour of bars inside the Value Area.
- POC line color - colour of the Point of Control line.
- VAH / VAL line color - colour of the Value Area boundary lines.
- range (vertical) line color - colour of the two range lines.
- show POC / VAH / VAL labels - show or hide the level labels.
Notes
This is a visual analysis tool. It does not send trading signals or open orders. It is provided free of charge.
