Volume HeatMap With Profile

The Volume HeatMap With Profile indicator provides a comprehensive view of market activity through customizable volume visualizations, offering deep insights into supply and demand zones within a user-defined time range. By combining a heatmap representation with a traditional volume profile, this tool helps traders identify high-activity price levels and potential areas of institutional interest.

Usage

The indicator requires the user to select a start and end point on the chart to define the calculation range. Once set, it generates a visual breakdown of volume distribution.

• Volume Profile & Heatmap: Users can toggle between a standard volume profile and a heatmap. The heatmap uses color gradients to represent volume intensity, making it easier to spot "hot" zones of high trading activity.
• Point of Control (POC): This highlights the price level with the highest traded volume within the selected period, often serving as a significant support or resistance level.
• VWAP POC: Displays the Volume Weighted Average Price (VWAP) relative to the Point of Control, offering a reference for the average price paid by traders in that zone.
• Forecasted Zone: This feature projects lines from high-activity areas into the future, assisting in identifying potential breakout zones or future levels where price might react.
• Bull/Bear Volume Ratio: The tool calculates and plots the ratio of bullish versus bearish volume at the top and bottom of the range, providing a sentiment overview for the selected timeframe.

Details

The script functions by segmenting the price range between the selected start and end times into a specific number of levels (rows). It then aggregates volume data for each level, distinguishing between buying and selling pressure based on candle polarity. The "HeatMap" aspect uses linear interpolation to transition colors between a base color and a "hot" color based on the relative volume magnitude of each row.

Settings

Main Core Settings

• Show Volume: Toggles the visibility of the volume profile bars.
• Bull/Bear Colors: Sets the colors used for bullish and bearish volume calculations.
• Volume Levels: Determines the granularity of the profile by setting the number of price rows.
• Volume Type: Choose which data to display in the profile boxes (Bear, Bull, All, or Points).
• Placement: Positions the profile on either the "Left" or "Right" side of the selected range.
• Show HeatMap: Enables the gradient-based heatmap visualization.
• Extend Right: Extends the calculation and visuals to the most recent bar.
• Show POC / VWAP POC: Toggles the display of the Point of Control and VWAP-based POC boxes.
• Show Forecasted Zone: Enables the projection of high-volume levels into the future.

Calculation Points

• Start: Defines the beginning timestamp for the volume calculation.
• End: Defines the ending timestamp for the volume calculation.

FAQ

How do I use the Volume HeatMap With Profile?

After adding the script to your chart, click once to set the starting point and a second time to set the ending point. The indicator will then calculate all volume metrics for that specific period.

Can I see specific volume numbers on the profile?

Yes, by enabling "Show Volume" and selecting your preferred "Volume Type" in the settings, the indicator will display the numerical volume values directly on the profile boxes.

How do I get access to Volume HeatMap With Profile?

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