Volume Profile Free MAX SLI (50 Levels Value Area VWAP) by RRB

The Volume Profile Free MAX SLI indicator calculates the Volume Profile for a specified range and displays it as a high-resolution histogram with up to 50 levels, including Point of Control (POC) and Value Area calculations. This tool is designed to provide advanced volume analysis features—such as Developing POC and VWAP standard deviation bands—for users on all account types, including those without access to built-in TradingView Volume Profiles.

Usage

The Usage section describes how the script can be used to identify key support and resistance levels based on historical volume distribution.

• Setup: Users must define the Max Price Level, Min Price Level, and Vertical Spacing to establish the calculation grid.
• Range Selection: Define the profile boundaries using VP Range Start Bar and VP Range Length. Use the Highlight Range Bars setting to visually confirm the data source.
• Volume Modes: Toggle between Buy, Sell, or Total volume modes. Total volume provides a standard profile, while Buy/Sell modes provide insights into aggressive market participants at specific price levels.
• Dynamic Levels: Enable Value Area or VWAP modes to display evolving support/resistance. Historical POC levels from previous sessions are frequently used as targets or entry points for the current session.
• SLI Modes: For users requiring extreme resolution, the "Shared Line Interface" (SLI) allows multiple indicator instances to work together.
  • Horizontal SLI: Use two instances to display Buy and Sell profiles simultaneously side-by-side.
  • Vertical SLI: Split the vertical price range across multiple instances to achieve up to 150 levels of resolution.

Details

The script utilizes an optimized calculation method that increases volume sums bar-by-bar rather than recalculating the entire range on every update. This makes it significantly faster than traditional volume profile scripts, especially on lower timeframes with extensive history.

• Value Area (VA): Represents the price range where a specified percentage (default 70%) of the total volume occurred.
• Point of Control (POC): The price level with the highest traded volume within the selected range.
• VWAP Integration: The indicator can overlay Volume Weighted Average Price and its standard deviation bands, which serve as dynamic value zones.
• Buy/Sell Assumption: In this implementation, volume from bullish candles is categorized as "Buy Volume," while volume from bearish candles is categorized as "Sell Volume."

Settings

General Settings

• Show Levels: Toggles the visibility of the volume histogram.
• Num Levels: Sets the number of horizontal bars in the profile (up to 50).
• Value Area %: Defines the percentage of volume used to calculate the Value Area.
• Volume Type: Switches the calculation between Buy, Sell, or Total volume.

Range & Grid

• Max/Min Price Level: Sets the upper and lower bounds for the volume calculation grid.
• Vertical Spacing: Adjusts the height of each volume level based on the symbol's tick size.
• VP Range Start Bar/Length: Controls which historical bars are included in the profile.

SLI (Shared Line Interface)

• Horizontal Buy/Sell Mode: Splits the level count to accommodate side-by-side volume comparison.
• Vertical Max Volume SLI: Allows a "Master" instance to share its maximum volume value with "Slave" instances to maintain a consistent scale across 150 levels.

Visualization

• Dim Non Value Area Zones: Reduces the transparency of levels outside the Value Area for better focus.
• Flip Levels Horizontally: Moves the histogram from the right side of the range to the left.
• Level Stats: Displays numerical data (price and volume) next to the histogram bars.

FAQ

How do I adjust the profile if it looks too small or squashed? Ensure your Max Price Level and Min Price Level settings encompass the current price action and that the Level 100% Base Length is set to a visible width (e.g., 100).

Why does the profile disappear when I change timeframes? If the profile disappears, check the Vertical Spacing setting. Different symbols and timeframes may require finer spacing (e.g., 0.0001 for Forex vs. 1.0 for Stocks) to render the 50 levels correctly.

How do I access Volume Profile Free MAX SLI? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.