Trade indicator Volume Profile + Range v6.0: Histogram of trades on the chart
Volume Profile + Range v6.0 trading indicator plots the distribution of transactions by price levels on the chart of the currency pair at a given time interval in the form of a histogram. The width of the histogram at a given level means, conventionally, the number of deals carried out on it.
If the broker provides data on the real volume, the indicator can show the distribution on it as well.
Main features of the Volume Profile + Range v6.0 indicator
- VP: display distributions in steps equal to standard periods
- VP-Range: display distributions for any selected period, different methods of setting calculation limits
- setting the displayed information (histogram, mods, maximum)
- possibility to install several indicators on one chart
The VP indicator divides the chart into equal time ranges and shows the distribution for each. The ranges can only be equal to the standard values timeframes not lower than the current range. For example, for H1 the range can be specified as H1, H4, D1, W1, MN1.
VP-Range works on only one range. The boundaries can be specified in one of several ways:
- arbitrarily with vertical lines
- use the number of last minutes of the chart
- set the right boundary and the number of minutes to it
When specifying the boundaries by lines, the bar of the right boundary is not taken into account in the calculations. This is done so that when switching timeframes, the initial data and, accordingly, the type of distribution do not change.
Bars of higher timeframes may contain fewer junior bars than would be expected according to calculations. This happens because of the natural holes in the history of quotations, formed due to the low liquidityas well as due to interruptions in work. Therefore, if you specify to the Volume Profile + Range v6.0 trading indicator show a week before any bar, the time of the left border may not coincide with the time of the right one. Different brokers may have slightly different data, but in spite of this, due to the use of a large amount of data in the calculations, the result is similar.
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