๐What is a volume profile?
A Volume Profile is an advanced charting indicator that displays total volume traded at every price level over a user specified time period.
๐Volume Profiles Uses:
๐ท Identify Key Support and Resistance Levels for Setups
๐ท Determine Logical Take Profits and Stop Losses
๐ท Calculate Initial R Multiplier
๐ท Identify Balanced vs Imbalanced Markets
๐ท Determine Strength of Trends
๐Volume Profile Components:
๐นPoint of Control (POC): Price level where the most volume traded for the session. Commonly referred to as the POC.
๐นValue Area (VA): Price range in which a user specified percentage volume was traded for a session. Volume profile traditionalist use 70% as it close to 1 standard deviation from the mean. The Point of Control is used as the mean on a volume profile.
๐นVolume Area High(VAH): This represents the price level at which the highest volume of trades occurred during the analyzed period inside VA. It indicates a significant level of trading activity and is often considered a key resistance level.
๐นVolume Area Low(VAL): Conversely, the Volume Area Low represents the price level with the lowest volume of trades during the analyzed period inside VA. It signifies a level of low trading activity and is typically considered a support level.
๐ค @AlgoBuddy
๐ Daily Ideas about market update, psychology & indicators
โค๏ธ If you appreciate our work, please like, comment and follow โค๏ธ
A Volume Profile is an advanced charting indicator that displays total volume traded at every price level over a user specified time period.
๐Volume Profiles Uses:
๐ท Identify Key Support and Resistance Levels for Setups
๐ท Determine Logical Take Profits and Stop Losses
๐ท Calculate Initial R Multiplier
๐ท Identify Balanced vs Imbalanced Markets
๐ท Determine Strength of Trends
๐Volume Profile Components:
๐นPoint of Control (POC): Price level where the most volume traded for the session. Commonly referred to as the POC.
๐นValue Area (VA): Price range in which a user specified percentage volume was traded for a session. Volume profile traditionalist use 70% as it close to 1 standard deviation from the mean. The Point of Control is used as the mean on a volume profile.
๐นVolume Area High(VAH): This represents the price level at which the highest volume of trades occurred during the analyzed period inside VA. It indicates a significant level of trading activity and is often considered a key resistance level.
๐นVolume Area Low(VAL): Conversely, the Volume Area Low represents the price level with the lowest volume of trades during the analyzed period inside VA. It signifies a level of low trading activity and is typically considered a support level.
๐ค @AlgoBuddy
๐ Daily Ideas about market update, psychology & indicators
โค๏ธ If you appreciate our work, please like, comment and follow โค๏ธ
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Join thousands of traders in our Free Discord: discord.gg/tC7u7magU3
Join thousands of traders in our Free Discord: discord.gg/tC7u7magU3
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