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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 a horizontal histogram on a 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 the 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.
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