Dual Range Volume Profile

The Dual Range Volume Profile indicator provides a comprehensive volume analysis by simultaneously displaying a global profile from the entire visible chart range and a localized profile anchored to the most recent significant pivot. This dual approach allows traders to identify where long-term accumulation has occurred while monitoring price equilibrium within the current trend.

Usage

The Usage section describes how the script can be used, focusing on the interpretation of its core components.

The indicator is primarily used to identify high-probability reaction zones where macro and micro volume concentrations align. Traders can use the profiles to gauge the strength of a price move: if a rapid price change occurs without building significant volume in the Pivot Profile, the move may be fragile and prone to reversal.

Strategic Applications

• Support and Resistance: The Point of Control (POC) and Value Area (VA) boundaries act as dynamic levels. Price often retests these areas after a breakout.
• Balance vs. Imbalance: Consolidation within a Value Area indicates market balance. A breakout beyond the VA signals a shift toward imbalance (volatility expansion).
• Confluence Zones: The most significant levels occur when the Main POC and Pivot POC overlap, especially if they align with structural elements like Order Blocks or Fair Value Gaps.

Details

The script utilizes two distinct calculation ranges to provide context:

• Main Profile: Calculated from the leftmost visible bar to the current bar. It identifies the structural balance and historical "magnets" that attract price over longer periods.
• Pivot Profile: Automatically resets at the most recent Swing High or Swing Low (based on user-defined pivot settings). This highlights the volume distribution of the active impulse or leg.
• Calculation Logic: Volume is distributed across price bins using a proportional allocation method based on candle range.
• Value Area (VA): Uses a standard volume distribution algorithm to find the range containing a specific percentage (e.g., 70%) of the total volume for that profile.

Settings

General & Pivots

• Show Pivot-based Profile: Toggles the visibility of the localized profile.
• Pivot Left/Right Bars: Determines the number of bars required on either side to confirm a swing high or low.

Volume Profile

• Number of Bins: Sets the vertical resolution (price segments) of the volume histogram.
• Bar Length (Main/Pivot): Controls the horizontal scaling of the histogram bars.
• Right Offset (Main/Pivot): Adjusts the horizontal position on the chart. Negative values move the profile to the left.

Value Area

• Show POC: Toggles the Point of Control line (the price level with the most volume).
• Show Value Area: Toggles the VA box and boundary lines.
• Value Area %: Defines the percentage of total volume to include in the VA.
• VA Box Width / Line Extend: Customizes the visual width and horizontal extension of the VA markers.
• Value Area Line Style: Choose between Solid, Dashed, or Dotted lines.

UI & Colors

• Table Position: Sets the location of the info table containing specific price levels.
• Colors: Individual settings for Main/Pivot gradients, POC, VA boxes, and table aesthetics.

FAQ

How do I interpret the difference between the two profiles? The Main Profile represents the "big picture" or structural range, while the Pivot Profile shows the volume commitment in the current trend leg. If price is far from the Main POC but building a new Pivot POC, a new balance area is forming.

Why do the profiles look identical sometimes? When the chart is zoomed in significantly, the visible range (Main) and the range since the last pivot (Pivot) may cover the same data. Interpretation should always consider a broad enough data range to maintain perspective.

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