⚪ OVERVIEW The Frequency and Volume Profile indicator plots a frequency or volume profile based on the visible bars on the chart, providing insights into price levels with significant trading activity.
⚪ USAGE
● Market Structure Analysis: Identify key price levels where significant trading activity occurred, which can act as support and resistance zones.
● Volume Analysis: Use the volume mode to understand where the highest trading volumes have occurred, helping to confirm strong price levels.
● Trend Confirmation: Analyze the distribution of trading activity to confirm or refute trends, mark important levels as support and resistance, aiding in making more informed trading decisions.
● Frequency Distribution: In statistics, a frequency distribution is a list of the values that a variable takes in a sample. It is usually a list. Displayed as a histogram.
⚪ SETTINGS
Source: Select the price data to use for the profile calculation (default: hl2).
Move Profile: Set the number of bars to offset the profile from the current bar (default: 100).
Mode: Choose between "Frequency" and "Volume" for the profile calculation.
Profile Color: Customize the color of the profile lines.
Lookback Period: Uses 5000 bars for daily and higher timeframes, otherwise 10000 bars.
The Frequency Profile indicator is a powerful tool for visualizing price levels with significant trading activity, whether in terms of frequency or volume. Its dynamic calculation and customizable settings make it a versatile addition to any trading strategy.
הערות שחרור
- Highest and Lowest period Calculations
הערות שחרור
- Description update
● Market Structure Analysis: Identify key price levels where significant trading activity occurred, which can act as support and resistance zones, due to high price activity. The more often price cross certain levels, the bigger value will profile show at that level, which is Frequency mesurment of price activity.
הערות שחרור
- Description update
Visual Warning if there are not enough bars on higher timeframes to calculate highs and lows to calculate bins, a warning will appear. Use lower timeframe then.
הערות שחרור
Thumbnail Update
הערות שחרור
- Added Feature
EXTEND PROFILE Enabling this feature allows you to highlight levels of high interest. Also, with the help of color intensity settings of high and low values, the user is able to adjust and filter the levels
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