Interactive Volume Profile - Based on LTF volume

The Interactive Volume Profile - Based on LTF volume indicator provides a high-resolution view of volume distribution by analyzing Lower Timeframe (LTF) data within a user-defined range. This tool helps traders identify Point of Control (POC) levels and high-volume nodes with greater precision than standard session-based profiles.

Usage

The tool is designed for flexible volume analysis across specific chart segments. Upon loading, the script allows you to interactively select a time range directly on the chart.

• Interactive Selection: Users can define a specific start and end time to calculate the volume profile for a particular trend or consolidation period.
• LTF Resolution: By utilizing lower timeframe data, the indicator calculates volume at specific price levels more accurately, providing a more granular histogram.
• POC Identification: The script automatically identifies the Point of Control (the price level with the highest volume) and provides alerts when the price crosses above or below this zone.
• Visual Customization: Users can toggle borders, adjust transparency, and choose between displaying absolute volume or "traded" volume (Volume * Price).

Details

This indicator leverages the request.security_lower_tf function, which allows it to pull intra-bar data for calculations. This is particularly useful for analyzing volume distribution within a single higher-timeframe bar or across a specific swing.

Due to technical limitations of the platform, security_lower_tf can fetch up to 100,000 bars of data. If the selected start point is beyond this limit, the profile will begin at the earliest point where LTF data is available. Increasing the lower timeframe resolution (e.g., from 1m to 5m) can extend the historical range available for the profile.

Settings

Main Settings

• Lower Timeframe: Sets the resolution used for volume calculations. A lower value increases granularity but limits the total historical range.
• Apply for max available bars: When enabled, the tool ignores time inputs and draws a profile for the maximum amount of available LTF data.
• Volume Source: Choose between 'absolute' (standard volume) or 'traded' (price multiplied by volume).
• Start/End Time: Defines the specific window for the volume profile calculation.
• Number of Levels: Determines the granularity of the profile by setting the number of price rows in the histogram.

Visuals

• Transparency: Adjusts the visibility of the volume bars.
• Border: Toggles the visibility of borders for each level in the profile.
• Display Volume: Shows the numerical volume value on each bar.
• Percentile: Changes the bar length calculation to use percentile ranking instead of a simple percentage of the maximum volume.
• Colors: Customizes the gradient colors for the volume profile bars.

FAQ

How do I use the interactive selection?

When you add the script to the chart, it will prompt you to select a start and end point. Once these are confirmed in the input window, the profile will render for that specific range.

Why is the profile not showing for my entire selected range?

The tool is limited by the availability of lower timeframe bars (max 100k). If your range is too wide, the profile will only display for the portion where data is accessible.

How can I access Interactive Volume Profile - Based on LTF volume?

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