Volume Profile with HVN / LVN Detection (Low-TF Safe)

The Volume Profile with HVN / LVN Detection (Low-TF Safe) indicator provides a session-based volume profile with automated detection of the Volume Point of Control (VPOC), High Volume Nodes (HVNs), and Low Volume Nodes (LVNs). This tool is optimized for high-performance execution on lower timeframes, including 5-second charts, to identify areas of market acceptance and rejection without runtime errors.

Usage

The Usage section describes how the script can be used to identify key market structures. This indicator organizes volume data into a histogram to reveal where the most significant trading activity occurred during a specific session.

• VPOC (Volume Point of Control): This line identifies the price level with the highest traded volume. Traders often view this as a "fair value" magnet or a balance point where the market is most comfortable.
• HVNs (High Volume Nodes): These represent price levels where heavy trading occurred, signifying market acceptance. They often serve as future support or resistance zones where price may consolidate.
• LVNs (Low Volume Nodes): These represent price levels where volume was sparse, signifying market rejection. Price often moves quickly through these zones, making them ideal for identifying potential breakout or inflection points.
• Session Framing: Use the HVNs and LVNs from the previous session to establish an intraday bias. These levels provide structural targets and risk management zones for current trading sessions.

Details

The script is a performance-focused refactor of the original "Volume Profile With HVN/LVN Detector." It utilizes request.security_lower_tf to gather granular volume data, ensuring accuracy while maintaining stability on high-frequency charts.

• Lower-Timeframe Safety: The indicator includes logic to prevent runtime errors on fast timeframes. If a selected resolution is incompatible with the current chart timeframe, it automatically falls back to chart-timeframe data to ensure continuous execution.
• Node Validation: HVNs and LVNs are determined by comparing the volume of a specific row against its neighbors. The "Strength" settings dictate how many rows above and below are checked to confirm a peak (HVN) or a valley (LVN) in the profile.
• Non-Repainting: Completed session profiles are fixed upon the start of a new session, providing a stable historical reference for technical analysis.

Settings

Volume Profile

• Rows: The number of price levels used to calculate the volume distribution. Higher values provide more detail but increase computational load.
• Profile Timeframe: The aggregate period (e.g., Daily) that the volume profile represents.
• Resolution Timeframe: The lower timeframe used to build the profile. Must be less than or equal to the chart timeframe.
• Profile Extend %: Controls how far the profile extends visually toward the next session.
• Profile Color: Sets the color and transparency of the volume histogram.

Volume Point of Control

• Show VPOC: Toggles the visibility of the VPOC line.
• Extend Last N VPOCs: Extends the VPOC lines of the most recent N sessions to the right for future reference.
• Show Labels Above: Displays the date of the extended VPOC when the profile timeframe meets the specified criteria.
• Line Width: Adjusts the thickness of the VPOC line.

High/Low Volume Nodes

• Show Previous HVNs/LVNs: Toggles the display of nodes from the prior session.
• HVN/LVN Strength: Sets the sensitivity for node detection; higher strength requires a more significant volume peak or valley.
• Type: Choose between "Levels" (horizontal lines) or "Areas" (shaded boxes) to display nodes.
• Colors: Individual color settings for bullish or bearish node contexts based on price proximity.

FAQ

How do I interpret the HVNs and LVNs on my chart? HVNs represent "Value" areas where price is likely to slow down or find support/resistance. LVNs represent "Gaps" or rejection zones where price is likely to move through rapidly.

Why does the profile resolution change when I switch to a very low timeframe? The script includes a "Low-TF Safe" feature that automatically adjusts the data source if the selected Resolution Timeframe is higher than the chart timeframe, preventing script crashes.

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