Volume profile (VP) is one of the most important and useful indicators in technical analysis. It displays three basic variables (price, volume and time) in one chart, which made it more straightforward to read for both professionals and beginners. Users can easily spot volume at a specific price level in a given timeframe.
This Ninjatrader 8 indicator is able to show the tick volume profile in a given range with many advanced features. Some key supply and demand (supply or demand) levels at a specific price range become more obvious by using this indicator.
The Volume profile is plotted as horizontal histogram on chart at the same level of the price traded.
Each VP bar represents the total tick volume for the price at the same horizontal level.
Both UP/positive and DOWN/negative volume starts from the same point, it's either the right side or the left side of the chart window depends on your input choice.
Note that this VP indicator will not show the Volume Profile of every trading session.
Click an image to view at full size.
Features and Inputs:
If you chose to display both positive and negative VP bars on the same side it will display like the chart below:
In the chart below, Down/negative volume is set to red color and UP/positive volume is green color.
Click an image to view at full size.It shows the total amount of volume for a particular number of bars on chart.
The chart above is set to position "Both VP on Left" and the chart below is set to position "Both VP on Right". You can choose a preferred position to get a better view.
The vertical cyan dash line(VP Start line) is where the VP starts from, it means that the VP calculation is based on those bars on the right side of the VP Start line.
The chart below is set to position "UP on Right, Down on Left", it makes possible if you want to view UP/positive and DOWN/negative VP separately.
If you want to check the Volume profile for both short and long range, you can use one indicator with a small range input and another one with a large range. The chart below has tw
Copyright @ 2018 Patternsmart - All rights reserved
This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. It's not recommended to use any single indicator as sole evaluation criteria. The companies and services listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. patternsmart is not responsible for the accuracy or content of any product, service or company linked to on this website.
Futures trading contains substantial risk and is not for every investor.Please read the following risk disclosure before considering the trading of this product: Futures Risk Disclosure. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial.Investor must consider all relevant risk factors, including their own personal financial situation, before trading. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. Forex investments are subject to counter-party risk, as there is no central clearing organization for these transactions. Please read the following risk disclosure before considering the trading of this product: Forex Risk Disclosure. Spreads, Straddles, and other multiple-leg option strategies can entail substantial transaction costs, including multiple commissions, which may impact any potential return. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options.
patternsmart.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Any investment decision you make in your self-directed account is solely your responsibility.