Volume at Price
Volume at Price indicator gives an approximation of volume at each price level. Volume is vital when determining which price level is strong and which is not.
With this indicator which estimates the volume at each price level by using some sort of statistical techniques along with Tick Volume, you will be able to detect the areas of high volume and the areas of low volume or even volume divergence and gaps in volume.
Interpretation of the volume chart is estimated by the user: some traders will use high volume areas as strong support or resistant levels, whereas others will use areas with low volume as the strong level of support or resistant levels. It can't be used as stand alone indicator, use it as decision support tool that confirms trading decisions of your own strategy.
- Creates Volume profile for Visible bars range on the chart.
- Creates Volume Profile for the entire History of a time frame
- Creates Volume Profile for multiple periods on the same charts (Days,weeks,Months) with given Fixed Interval
- Creates Volume Profile for Custom Period by Using Cycle line Tool
- Creates Volume Profile for dated period given Starting Date and Time and Ending Date and Time
- Creates Volume Profile for predefined bars count
- Creates volume profile for combined number of periods(Days,Weeks,Months0
- works with CFDs such as metals, stocks by enabling CFDs mode.
- Customized Tick value.
1- Magic Number: Indicator's Magic Number
2-8:Select Default Sub Time Frame for each main time frame from which the indicator will calculate its value * Sub Time Frame Must always be lower than higher or the main time frame. for example you can't select a week as a default sub time frame for a daily time frame . if you do so the indicator will do nothing
9-Solid Histogram Bar: if true bars will be shaded, if false bars will be hollow
10-Highlight High Or low Volume Zone: if true indicator will highlight high or low volume zones on the profile
11-Highlight Zone with: Drop down list to select the area of High, Low, Both High and Low areas to highlight
12-High Volume Threshold: the Percentage of high volume above average
13-Low Volume Threshold: the Percentage of low volume below average
14-Use PreSet Color Scheme: Select true if you want to select from premade color scheme
15-color Scheme: RedBlue, BlackWhite, BlackGreen
16-21 Indicator's Bars Colors
- New Feature that allows the user to save his favorite settings for each time frame . for example you can select to show visible bars range profile on 15 M time Frame and select to see profile for 20 days on 1H chart and another settings on different Time Frames .
- Fixed minor Glitch
- New Feature to Show Buy/Sell Percent at every price level represented as graph.
- Modified Properties Window: removed most of properties leaving only some minor properties that are related to indicator appearance and colors.
1. Interval: this property allows you to create multiple periods Profiles with a fixed interval for example you may create 3 Days profile interval for 20 periods this will show 20 profiles on the chart with each one represent 3 days or what ever Timeframe you select (Month, Week, day) in other word showing 60 days profile divided into 3 days for each profile : to enable it select from Profile creation method : Multiple period profile, then from the main time frame select the desired profile period, then select the Periods count you want then on the interval property select 2 or 3 or whatever interval you want.
2. Color Scheme: you can select preset color scheme for the chart from 3 color (Green & Black, Blue Red, White Black)
Some amendments were made to the indicator to enhance the accuracy with regard to volume calculation.
- New parameters list with more functions and more organized properties list
- New profile creation methods were added:
- All Time Frame History Profile: Show the volume profile for the entire history of an instrument.
- Multi Period Profile: Show the volume profile for selected number of periods (Days, Weeks, Months) separately all on the same chart.
- Start date and Ending date Profile: Show the volume profile from Starting date to Ending date determined.
- Start Date till now profile: Show the volume profile from Starting date until the current time.
- Modified custom period creation method using Cycle Line tool, so that now you can create as much profiles as you want using the cycle line tool without deleting the previous profile created.
- Added Hide button: show or hide profile from the chart if needed.
- Added Clear button: delete profiles created by Cycle Line tool specially or clear any profiles on the chart also. Be careful when using it.
- To find out more about how to use the indicator, please check the Comments tab of the product page.
2. Added the two new profile creation methods (by date and by bars count) in addition to methods from the previous version. All methods can be found on the drop-down list in the parameters window.
3. New option to show profile from right to left or from left to right.
4. Added the "Scale" button to the upper right corner of the chart. This make you able to move the chart up or down to show parts of the profile which are not visible on the chart.
5. Fixed a minor glitch.
- Ability to add up to 3 VAP indicators to the same chat at the same time using different setting for each this would make the trader more informative about the levels he would like to trade
Please note : to add different VAP indicator change the Magic Number for each Indicator you place on the chart Magic number must be unique
New Feature to select different default sub time frame for each major time frame
- Ability to highlight high or low volume area with different color.