Volume Points of Control and No Control [NariCapitalTrading]

The "Volume Points of Control and No Control" (VPOC/VPONC) is a trading indicator/concept I designed to identify key price levels based on volume activity. It shows (on the price label on the y-axis) where there was the most (red) and the least (blue) volume over a specified lookback period. Read below for interpretation.

Key Features:
  • Identifies key price levels based on volume
    Customizable lookback period and trade timeframe
    Plots Volume Point of Control (VPOC) and Volume Point of No Control (VPONC)

Inputs and Calculations:
Custom Trade Timeframe: Allows users to set the desired timeframe for analysis (e.g., Daily, Weekly).

Lookback Period: Users can specify the period over which to analyze volume data.

VPOC Calculation: Determines the price level with the highest volume within the lookback period.

VPONC Calculation: Finds the price level with the lowest volume within the lookback period.

Indicator Usage:
The VPOC is considered a significant level where traders have shown the most interest, often acting as a strong support or resistance level. The VPONC, conversely, is a concept I made up. It represents a price level where 1) in an trending market, this price was accepted quickly, thus suggesting continuation of an trend. 2) price retracements will typically revisit thinly-traded price areas, the VPONC can sometimes signal an area of support in a downtrend.
Chart Representation:
VPOC Label: Plotted on the y-axis in red, indicating the price level with the highest volume.

VPONC Label: Displayed on the y-axis in blue, showing the price level with the least volume.

These labels are dynamically updated based on the user-specified lookback period and trade timeframe.
Release Notes:
Cleaned-up one comment
Release Notes:
Name update for consistency

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.


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.

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