Advanced Volume Profile Levels (Working)

The Advanced Volume Profile Levels (Working) indicator automatically calculates and plots essential volume profile metrics including the Point of Control (POC), Value Area High (VAH), and Value Area Low (VAL) across multiple timeframes to identify key institutional interest zones.

Usage

The Usage section describes how the script can be used, examples should be provided in this section. This indicator serves as a technical reference for identifying price levels where the highest volume of trading activity occurred. Traders can use these levels to anticipate potential support, resistance, or price reversion.

• Point of Control (POC): This represents the price level with the most significant volume. It often acts as a "magnet," where price may consolidate or return to after a breakout.
• Value Area (VAH/VAL): These levels define the range where the majority of trading volume (typically 68-70%) took place.
  • Acceptance: Price holding above VAH or below VAL can suggest a trend continuation or breakout.
  • Rejection: Price failing to break out of these levels often results in a return toward the POC.

Details

The script utilizes a multi-session approach to provide a comprehensive market perspective. It calculates levels for the previous week, the previous day's Regular Trading Hours (RTH), and the current live session simultaneously.

To ensure visual clarity, the tool employs dynamic "floating" labels. For historical weekly and daily data, labels are positioned with a right-hand offset to prevent overlapping with recent price candles. For the live session, trailing labels move dynamically as new data is processed. The script also includes a contrast-detection algorithm that automatically adjusts text color based on the selected background color for optimal visibility.

Settings

Weekly Profile

• Show Weekly Levels: Toggles the visibility of the previous week's POC, VAH, and VAL.
• Weekly Levels Color: Sets the color for all weekly volume lines and labels.
• Weekly Line Width/Style: Customizes the visual thickness and pattern (Solid, Dashed, Dotted) of the weekly levels.

Daily Profile

• Show Previous Day Levels: Toggles the visibility of the prior day's RTH volume levels.
• Daily Levels Color: Sets the color for daily volume lines and labels.
• Daily Line Width/Style: Customizes the visual thickness and pattern of the daily levels.

Current Session

• Show Current Session Profile: Toggles the real-time calculation of the developing session levels.
• Current Session Color: Sets the color for the live session lines and labels.
• Current Session Line Width/Style: Customizes the visual thickness and pattern of the current levels.

Session Times (ET)

• RTH Session: Defines the start and end times for Regular Trading Hours (default 09:30-16:00 ET).
• Post NY/Overnight Times: Sets the hourly thresholds for calculating non-RTH volume data.

Display

• Show Level Labels: Enables or disables the text descriptions next to the lines.
• Extend Lines Right: Determines if historical levels should extend across the right side of the chart.
• Label Size/Transparency/Offset: Adjusts the physical appearance and positioning of the on-chart labels.

FAQ

How are the Volume Profile levels calculated? The script bins price action into segments and aggregates the volume associated with each price bin to determine where the highest concentration of trading occurred.

Can I use this for different trading sessions? Yes, the script allows you to customize the Regular Trading Hours (RTH) and overnight session start times via the inputs menu to match your specific market or timezone.

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