Volume Profiles: new and improved

Apr 21, 2022

We know how much you love using our volume profiles in your day-to-day analysis because we get a lot of feedback about it. Thanks for that, it really helps build better stuff — and in this latest volume profile-related update, we’re excited to bring you some of this area’s most frequently requested improvements.

Separating sessions in the Session Volume Profile (SVP) indicator

The Session Volume Profile indicator has a new input, Sessions. It determines how the SVP indicator will be built when the extended hours display is turned on.

If set to “All” (default), the indicator will consider the pre-market, main trading session and post-market as one session. One profile will be built for each trading day and it will include the volume for all transactions, starting from the first pre-market candle and ending with the last post-market candle. This is how the indicator works on extended hours previously.

The “Each (pre-market, market, post-market)” option allows you to build a separate volume profile for each part of the trading day session, taking into account only deals made during that period. If the symbol has extended hours with pre-market, main session and post-market, the indicator will build three separate profiles for each trading day.

With the dedicated “Pre-market”, “Market” and “Post-market” options, the indicator ​​will only build one volume profile per trading day, based on the trades for the specified session period.

These settings should be used only on charts with extended hours. If there is no extended hours data on the chart or if the Extended Hours display is turned off, the indicator will not be able to build a volume profile for pre or post-market.

New indicator: Periodic Volume Profile (PVP)

The Periodic Volume Profile indicator allows you to build volume profiles for periods longer than one trading day. The profiling principle and input parameters for PVP are similar to the aforementioned SVP. The indicator builds one general volume profile for each new period, set by the user through the “Period” input parameter. The period multiplier is set in the first field, and the period itself, which can take the values ​​”Day”, “Week” or “Month”, is set in the second field.

For example, if you set 1 Month as the input parameter for “Period”, then each volume profile plotted on the chart will include the volumes of all trades from the first to the last day of every available month. You can read more about building volume profiles in this article.

POC, VAL and VAH lines in all Volume Profile indicators

For all Volume Profile indicators, we’ve added the ability to display the upper (VAH) and lower (VAL) boundaries of the value area on the chart. These lines provide a convenient visual representation of the boundary values ​​of the value area, in which N% of all transactions are made for the specified period. The Value Area High and Value Area Low lines are located approximately at the price level that is the maximum allowable for making buy or sell transactions for N% of traders, where N corresponds to the Value Area Volume input parameter.

For PVP, SVP, and SVP HD, it is now possible to extend the Point of Control, Value Area High or Value Area Low lines to their intersection with the nearest bar, which makes it easier to visually identify the breakdown of these levels.

Fixed Range Volume Profile (FRVP)

The Fixed Range Volume Profile indicator now has the Extend Right input parameter, which disables the right boundary of the calculation. When you add this indicator to the chart, you first specify a fixed period of two coordinates: the start and the end of the profile. The indicator is then built based on the data for this specified period only. The new input parameter Extend Right allows you to continue building the profile, including all historical candles and all new emerging candles to the right of the second coordinate.

We hope you find these improvements useful. Keep sharing your opinion with us. We’re building TradingView for our users, and we’d love to hear what you think of our new features.

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