Volume Profile Segment Difference «NoaTrader»

The Volume Profile Segment Difference «NoaTrader» indicator visualizes the volume distribution of a specific user-defined time segment relative to the total volume profile of the entire chart. This tool allows traders to isolate and compare localized volume concentrations against the broader market activity to identify key areas of interest.

Usage

The Usage section describes how the script can be used to analyze market structure through volume distribution. Upon adding the indicator to a chart, the user is prompted to select two points in time (Start and End) to define the segment for analysis.

The indicator then renders two distinct components:

1. Global Volume Profile: A profile of the total volume for all bars visible on the chart, displayed with a color gradient reflecting volume intensity.
2. Segmented Volume Profile: The volume specifically attributed to the chosen time window is overlaid on the global profile using a distinct color (defaulting to red).

This visualization helps in identifying whether the volume at a specific price level was generated during the selected period or during the rest of the chart's history. For example, if a high-volume node in the global profile is mostly filled by the segment color, it indicates that the specific time window was the primary driver of liquidity at that price.

Details

The script utilizes a mapping system to categorize volume into discrete price bins based on the "Each Volume Profile's Range" setting. It iterates through the historical data to populate two separate maps: one for the total volume and one for the volume within the defined start and end timestamps.

The calculation uses the specified price source (defaulting to hlcc4) to determine which price "key" the volume of a specific bar belongs to. A selection box is drawn on the chart to visually confirm the selected segment's time and price range. The final rendering occurs on the last bar, where lines are drawn at an offset from the current price to prevent overlapping with price action.

Settings

Calculation

• Each Volume Profile's Range: Defines the height of each price bin. For example, a setting of 1000 on BTCUSD groups volume into $1000 increments.
• Candle's calculation source: The price point (Close, HL2, etc.) used to assign volume to a specific price bin.
• Start of the segment: The beginning timestamp for the specific volume analysis.
• End of the segment: The ending timestamp for the specific volume analysis.

Display

• Width: The maximum length of the volume bars on the chart.
• Offset: The horizontal distance between the last candle and the volume profile.
• Each Volume Profile line's Width: The thickness of the individual horizontal lines representing volume.
• Minimum volume's color: The color used for the low-intensity end of the global volume gradient.
• Maximum volume's color: The color used for the high-intensity end of the global volume gradient.
• Selected segment's color: The color used to highlight the volume from the chosen time segment.
• Selected segment transparency: The opacity of the selection box drawn over the chart candles.

FAQ

How do I adjust the indicator for different assets? You must adjust the "Each Volume Profile's Range" setting to match the volatility and price scale of the asset. A range that is too small may hit the script's line limit, while a range that is too large will lack detail.

Why is the volume profile not appearing? Ensure that the "Start" and "End" times are correctly set within the historical data available on your chart. You can re-select these points by clicking the "Confirm" icons in the settings menu.

How can I access the Volume Profile Segment Difference «NoaTrader»? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.