Volume Profile [SMRT Algo]

The Volume Profile [SMRT Algo] is an indicator designed to display volume profile data and help traders visualize the distribution of volume at various price levels.



The red horizontal line represents the price level with the highest volume, known as the Point of Control (PoC). This is indicated by a red label with red text on the right side of the chart. Additionally, two other labels are displayed: one at the top and one at the bottom, showing the current volume range used for the profile.



Key Features

• Point of Control (PoC): This is the price level where the highest volume has occurred. It is marked with a red line and label.
  
  
• Volume Range Labels: Labels show the current range of volume used for the profile, helping you track key levels.
  

Inputs Settings
The indicator offers various customization options to suit your trading preferences:

• Volume MA Length: Defines the length for the moving average of volume (default: 89).
  
  
• Bars Above Volume Average: Multiplier threshold for bars that exceed the average volume (default: 2.618).
  
  
• Volume Profile Display: Enables or disables the volume profile display.
  
  
• Profile Display: Choose how volume is displayed ("Up/Down" for buying/selling volume or "Total" for overall volume).
  
  
• Up/Down Volume Colors: Set colors for bullish (green) and bearish (red) volume bars.
  
  
• Bull/Bear Dominance: Indicates market dominance at price levels.
  
  Bull Color: Green for buying pressure.
  
  Bear Color: Red for selling pressure.
  
  
• Point of Control (PoC): Displays the price level with the highest traded volume.
  
  PoC Color: Red (customizable).
  
  PoC Width: Adjust the thickness of the PoC line.
  
  
• Value Area Percentage: Sets the percentage of volume within the value area (default: 68%).
  
  
• Value Area High (VAH) & Low (VAL): Highlights the upper and lower boundaries of the value area.
  
  
• VAH/VAL Colors & Widths: Customize colors and line widths.
  
  
• Price Levels Display: Choose how price levels are shown ("High/Low Profile", "Up/Down", or "None").
  
  
• Label Colors: Adjust the color of the labels for price levels.
  
  
• Lookback Type: Choose between "Fixed Range" and "Visible Range" for volume profile calculations.
  
  
• Lookback Length: Defines the number of past bars to include (default: 360, adjustable between 10 and 5000).
  
  
• Profile Levels: Sets the number of horizontal rows in the volume profile (default: 100, adjustable between 10 and 150).
  
  
• Profile Placement: Allows you to select "Right" or "Left" for profile positioning.
  
  
• Profile Width & Offset: Adjusts the width and horizontal offset of the profile.
  

How It Works

• Volume Profile Calculation: The indicator calculates the volume traded at various price levels based on the selected lookback range. It categorizes volume into up-volume (buying) and down-volume (selling) to determine market dominance.
  
  
• Point of Control (PoC): Identifies the price level with the highest trading volume, helping to gauge market interest.
  
  
• Value Area (VAH/VAL): Highlights the range within which a majority of the volume has been traded (e.g., 68% of volume).
  
  
• Market Dominance: Uses color coding to indicate whether buyers or sellers dominate a specific price level.
  

How to Use
1. Add to Chart: Simply add Volume Profile [SMRT Algo] to your TradingView chart.
2. Customize Inputs: Adjust settings such as lookback range, volume profile display, and color preferences.
3. Interpret Market Strength:
o Look for areas of high volume to identify strong support and resistance zones.
o The Point of Control (PoC) will show where the market has the most interest.
o Monitor bull/bear dominance to gauge which side is in control at a particular price level.
4. Combine with Other Analysis: Use the volume profile data alongside trend analysis, order blocks, and market structure for improved decision-making.

Default settings are recommended.

Volume Profile [SMRT Algo] is a powerful tool for traders looking to analyze volume distribution at different price levels. It offers valuable insights into market sentiment, helping traders identify key support and resistance zones, along with understanding where market participants are most active.