OPEN-SOURCE SCRIPT
POCs and VAHs VALs - All and Non-Broken
Updated
The "POC and VAH VAL - All and Non-Broken"
POC = Points of Control
VAH = Value Area High
VAL = Value Area Low
This indicator aims to show you on the 5 minute time frame all POCs and VAHs/VALs and Non-Broken POCs and VAHs/VALs.
(Non-Broken are POCS and VAHs/VALS where price action has not since crossed its path)
In the screen image above I have used VPVR to back test on BYBIT:BTCUSDT.
The POCs and VAHs/VALs for each day can be seen.
Also there is an option to see non-broken POCS and VAHs/VALs within the settings.
All display options are selectable within the settings.
The indicator is not as precise as using the VPVR but is a lot quicker and gives you a quick snapshot to assist with your technical analysis.
In the screen shot above are some examples highlighted with yellow circles (resistance at POC and VAHs/VALs).
Thanks goes to:
ahancock for use of his code.
Bjorn Mistiaen on StackOverFlow for his assistance.
Disclaimer:
Indicator has been coded to only show on 5 min time frame (after back testing seemed most accurate).
Only back tested on BYBIT:BTCUST.
There are some slight discrepancies.
Back tested against VPVR settings: Row Size 500, Value Area 70.
Maximum of 500 lines will only be shown.
POC = Points of Control
VAH = Value Area High
VAL = Value Area Low
This indicator aims to show you on the 5 minute time frame all POCs and VAHs/VALs and Non-Broken POCs and VAHs/VALs.
(Non-Broken are POCS and VAHs/VALS where price action has not since crossed its path)
In the screen image above I have used VPVR to back test on BYBIT:BTCUSDT.
The POCs and VAHs/VALs for each day can be seen.
Also there is an option to see non-broken POCS and VAHs/VALs within the settings.
All display options are selectable within the settings.
The indicator is not as precise as using the VPVR but is a lot quicker and gives you a quick snapshot to assist with your technical analysis.
In the screen shot above are some examples highlighted with yellow circles (resistance at POC and VAHs/VALs).
Thanks goes to:
ahancock for use of his code.
Bjorn Mistiaen on StackOverFlow for his assistance.
Disclaimer:
Indicator has been coded to only show on 5 min time frame (after back testing seemed most accurate).
Only back tested on BYBIT:BTCUST.
There are some slight discrepancies.
Back tested against VPVR settings: Row Size 500, Value Area 70.
Maximum of 500 lines will only be shown.
Release Notes
User highlighted that only the unbroken POCs/VAHs/VALs below the current price were showing on the chart. Script has now been updated to show the unbroken above and below current price.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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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.