Volume Profile Plus

The Volume Profile Plus indicator provides a high-resolution and high-precision implementation of Volume Profile with flexible range settings and deep intra-bar analysis. It allows traders to visualize volume distribution across price levels using up to 2,500 rows for granular market structure identification.

Usage

The Usage section describes how the script can be used to identify key liquidity zones and value areas.

Range Selection

The tool offers three distinct modes to define the lookback period:

• Visible Range: Automatically updates the profile based on the bars currently visible in the chart viewport.
• Anchored Range: Allows the user to manually set a starting point using a datetime input or by dragging an anchor line.
• All Range: Calculates the profile using all available historical data on the chart.

Execution Modes

• Volume Profile: Uses actual volume data to construct the histogram, highlighting where the most trading activity occurred.
• Market Profile (TPO): Disregards volume and focuses on time spent at specific price levels. This is automatically activated if the ticker lacks volume data.

Value Area and POC

The script highlights the Point of Control (POC), representing the price level with the highest volume, and the Value Area (VAH/VAL), which typically contains 70% of the total volume. These levels act as dynamic support and resistance.

Details

The indicator utilizes the polyline type in Pine Script to achieve high resolution. By using a single polyline instance for the entire histogram, the script can accommodate up to 2,500 rows, far exceeding the limitations of traditional line or box-based profiles.

To ensure high precision, the script employs intra-bar data-binning. Rather than assigning a bar's total volume to a single price bucket based on its average, it examines lower timeframe data (up to 5,000 intra-bars) to distribute volume accurately across fine-grained price buckets. This reduces the "averaging" effect found in standard profiles, especially on higher timeframe charts.

Settings

Time Range

• Range Mode: Selection between Visible Range, Anchored Range, or All Range.
• Anchor Time: Sets the starting point for the calculation when "Anchored Range" is selected.

Granularity

• Number of Rows: Determines the vertical resolution of the histogram (up to 2,500).
• Max Lower Timeframe Bars: Sets the maximum depth for intra-bar analysis. Higher values increase precision but may impact performance.
• Use Second-Based Timeframes: Enables the use of 1s or 5s data for calculation (requires TradingView Premium).

Appearance & POC/VA

• Horizontal Offset: The distance between the chart's last bar and the profile histogram.
• Max Width: Sets the maximum horizontal extension of the histogram bars.
• Show Volume Delta: Toggles the display of net buy/sell volume within the profile.
• Value Area Percent: Adjusts the percentage of volume used to calculate VAH and VAL.
• Extend Key Price Lines: Extends the POC, VAH, and VAL lines to the left of the chart for easier reference.

FAQ

How do I change the start point of the profile? Set the "Range Mode" to "Anchored Range" in the settings, then either adjust the "Anchor Time" input or drag the anchor line directly on your chart.

Why does the profile change when I zoom in or out? This occurs when "Range Mode" is set to "Visible Range." The indicator recalculates based on the bars currently shown in your viewport. Switch to "Anchored" or "All Range" for a static calculation.

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