- Creates a pseudo by counting values of candles and sorting them into a Profile.
- Works for charts that don't provide any Information.
- Can display up to 5 different Value Levels.
- Value level colors are (from largest to smallest level): Red, Orange, Yellow, Green, Blue.
- The Value levels can be used as indicators.
- The Custom Range of the can be adjusted from 10 to 1500 bars.
- Much faster than the other custom pseudo VPVRs out there.
- As the chart progresses with bars the line positions will distort to the left side. Refreshing the tradingview page or switching to another time interval fixes this. I might fix this issue in the future.
- Does not use actual nor display actual .
Note: For those who wondered what happened to my first version of this indicator: It got taken down by Tradingview because it was misleading as to using the words "Volume Profile" and "Visible Range". I fully support their decision and I hope I could clear any misunderstandings! Give their team a heads up for the hard work they're doing in keeping this place clean and well organized!
Depends on the instrument you are using. Can you name one as well as the timeframe you use?
AS you can see in this screenshots it could go either to the purple lines, which are similar to the ones i showed you in the 1min graph - and then bounce back to the red lines OR, in case of a short movement go to the next blue dotted line, or, in case of a long movement, clear the purple resistance area (goes to the bar with the LOWEST pseudo volume) and then enter a low pseudo volume cluster which its most likely gonna clear because of low volume and go into a general upward surge. You have to adjust the Volue profile settings to each chart and patern seperately, there is no "universal" setting. Also, I'd rather use it to make my pre-trading analysis , mark the important areas and then trade through them. maybe use it live a bit too to check on if value levels change/persist. But this indicator should be primarely used for pre-analysis and making a strategy out of the data you've collected :)