Historic Volume/Market Profiles

The Historic Volume/Market Profiles indicator provides a comprehensive view of multiple historical volume and market profiles simultaneously, enabling traders to identify high and low volume clusters across specific timeframes. This tool maximizes granularity by utilizing up to 1000 rows to visualize supply and demand zones with precision.

Usage

The Usage section describes how the script can be used to analyze market structure across historical periods. Traders can use this tool to identify "Value Areas," where the majority of trading activity occurred, and "Nodes" that signify potential support or resistance.

• Cluster Identification: The script highlights High Volume Nodes (HVN) and Low Volume Nodes (LVN). HVNs represent price levels where heavy trading occurred, often acting as magnets for price, while LVNs represent areas where price moved quickly, often acting as rejection zones.
• Granularity Scaling: Unlike standard profiles, this tool automatically scales its row count based on the number of profiles displayed. For instance, if 5 profiles are selected, the script allocates approximately 200 rows per profile to ensure the 1000-row limit is used efficiently.
• Directional Display: By adjusting the Display Size, users can change the orientation of the profile. A positive value displays the profile from the start of the period (left to right), while a negative value displays it from the end of the period (right to left).

Details

The script functions by aggregating volume or price action (TPO) data within a user-defined period. It utilizes a base calculation that determines the highest and lowest price points of the period and divides that range into "ticks" or rows.

• Auto-Scale: This feature automatically fits each profile within the defined timeframe period. This ensures that when switching between different chart timeframes (e.g., from 15m to 1h), the profiles maintain a consistent visual scale relative to the price action.
• Market vs. Volume Profile: The indicator offers a "2-in-1" functionality. When "Calculate As Market Profile" is enabled, the script treats every price level touched by a candle as a single unit (1), focusing on time spent at price. When disabled, it uses actual volume data to weigh the profile rows.
• Optimization: The tool is designed specifically for historical analysis. To manage platform resources, it clears older lines, boxes, and labels as price progresses, maintaining performance while providing deep historical context.

Settings

Profile Settings

• Timeframe: Sets the period for each individual profile (e.g., Daily, Weekly).
• Value Area %: Determines the percentage of total volume to be highlighted as the Value Area (default is 70%).
• # of Profiles: Controls how many historical profiles are rendered on the chart (Max: 20).
• Calculate As Market Profile: When checked, calculates based on price distribution (TPO); when unchecked, calculates based on volume.

Display Settings

• Display Size: Determines the horizontal width and direction of the profile bars. Positive values extend right; negative values extend left.
• Auto-Scale: Automatically adjusts the profile width to fit within the timeframe boundaries on the X-axis.

High/Low Volume Nodes

• [HVN] Analysis Width %: Adjusts the sensitivity for identifying High Volume Nodes.
• [LVN] Analysis Width %: Adjusts the sensitivity for identifying Low Volume Nodes.

Colors

• POC Color: Sets the color for the Point of Control (the row with the highest volume).
• Value Zone Color: Sets the color for the area within the Value Area percentage.
• Profile Color: Sets the color for volume outside the Value Area.
• Low/High Volume Color: Sets the specific highlight colors for identified HVNs and LVNs.

FAQ

How do I adjust the number of rows for better detail? The granularity is automatically calculated based on the "# of Profiles" setting. To increase the detail of each individual profile, reduce the total number of profiles displayed on the chart.

What is the difference between the Value Area and the POC? The Point of Control (POC) is the single price level with the highest volume, while the Value Area represents the range of prices where a specific percentage (usually 70%) of the total volume took place.

How can I access the Historic Volume/Market Profiles? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.