fikira

Volume Profile Auto [line]

fikira Wizard Updated   
This project is about:

- VPSV
- array.new_line()
- array.new_box()

VPSV (pine) is one of the rare features that draws lines/figures BETWEEN bars

It doesn't run on Pine script, which makes it possible to do such things.

I wanted to have something similar while a restriction of Pine script is the impossibility to draw between bars, the only way I could think of is by using line width

In this script the higher timeframe is started with several lines (left) and a box, this box goes further until the higher timeframe ends.

During the creation of the box, each candle (lower timeframe) in this box (higher timeframe - period) is checked for position and volume, the volume is added to the left line, so when you see a thicker line, this means at that level there is more volume traded.

One of the big differences with other volume profiles is that many look back to a previous period, here when a period starts, the lines collect data - volume until the period ends, it is especially very visible in very low TF's (seconds)

This is my first script with array.new_line() - array.new_box(), which is a very nice Pine feature!
I hope this script can be helpful to see the possibilities

Settings:

'Parts' -> amount of lines (left of box)

5 Parts:

15 Parts:

25 Parts:

50 Parts:

'Max Width' -> Sets the max width of the lines

'Automatic Settings' -> Sets the higher time frame automatically, see the tooltip ⓘ for more info

The yellow line is the max volume line of that period, last period has a red line (POC), also referring the max.

Cheers!
Release Notes:
bugfix
Release Notes:
Improvement of array clean-up (Thanks @HeWhoMustNotBeNamed !)
Release Notes:
Added more POC lines

LuxAlgo Dev: www.luxalgo.com
PineCoder: www.pinecoders.com

- We cannot control our emotions,
but we can control our keyboard -
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?