Volume Profile Free Ultra SLI (100 Levels Value Area VWAP) - RRB

The Volume Profile Free Ultra SLI indicator provides a high-resolution volume profile visualization with up to 100 levels for detailed market liquidity analysis on any account type. This tool is designed to bypass standard platform limitations by offering customizable ranges, Value Area calculations, and dynamic VWAP/POC levels.

Usage

The Usage section allows traders to define specific price ranges and lookback periods to analyze volume distribution. Users must specify the Max Price Level, Min Price Level, and Vertical Spacing to align the profile with the current asset's price action.

• Range Selection: Define the profile calculation window using VP Range Length and VP Range Start Bar. A length of 0 calculates the profile across all available history.
• Volume Modes: Toggle between Buy, Sell, or Total volume modes. In Horizontal Buy/Sell mode, the script splits the levels to display bid and ask distribution simultaneously.
• Level Types: Select between Value Area (VA) or VWAP modes. VA mode highlights the Point of Control (POC) and the range containing a specified percentage of total volume (default 70%). VWAP mode plots dynamic standard deviation bands.
• SLI Modes: Utilize "Symmetric Level Integration" (SLI) to increase resolution. Horizontal SLI (using two indicator instances) allows for 100 Buy and 100 Sell levels at once. Vertical SLI allows for up to 300 levels by splitting the vertical range across multiple instances.

Details

The script is engineered for high performance by using a per-range calculation method rather than a per-bar calculation, significantly reducing load times on lower timeframes. It utilizes 50 standard plot levels and 50 Pine Script line objects to reach its 100-level resolution.

• Line vs. Plot Implementation: Line objects (used for levels 51-100) maintain fixed coordinate lengths and are rendered on top of other chart elements, whereas plot objects (levels 1-50) require a "Side Cover" to manage visibility.
• Volume Assumption: In the absence of tick-level data, the script uses candle polarity to categorize volume: bullish candles represent buy volume, and bearish candles represent sell volume.
• Log Scale Support: The "Adjust Level Width for Log Scale" setting ensures that the histogram remains visually accurate when viewing charts in logarithmic mode by applying a multiplier and deviation cap to level widths.

Settings

General Settings

• Show Plot Levels / Alternate Levels: Toggles the visibility of the primary (1-50) and secondary (51-100) histogram bars.
• Volume Type: Choose between Buy, Sell, or Total volume for the profile calculation.
• Value Area/VWAP Mode: Switches the overlay logic between traditional Value Area levels and VWAP standard deviation bands.
• VP Range Length: Sets the number of bars used for the volume calculation.

SLI & Resolution

• Horizontal Buy/Sell Mode: Splits the available 100 levels between buy and sell data.
• Vertical Max Volume SLI Mode: Enables master/slave synchronization for splitting the vertical price range across multiple indicator instances to reach 300 levels.
• Num Levels: Adjusts the number of horizontal bars displayed (up to 100).

Visuals & Offsets

• Zero Line Offset: Controls the horizontal positioning of the profile base.
• Level Width: Sets the vertical thickness of the histogram bars.
• Dim Non Value Area Zones: Reduces the transparency of volume levels outside the Value Area to highlight high-interest zones.

FAQ

How do I adjust the profile if the levels are not appearing? Ensure that the Max Price Level and Min Price Level encompass the current price and that the Vertical Spacing is set appropriately for the asset's decimal precision (e.g., 0.01 for stocks or 0.00001 for Forex).

What is the difference between Plot Levels and Alternate Levels? Plot Levels use standard drawing buffers with a fixed 100-bar length, while Alternate Levels are line objects that allow for dynamic coordinate placement and better visual stacking.

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