OPEN-SOURCE SCRIPT
POC MONTHLY + PIVOT
POC Monthly + Pivot — Code Explanation
This is a Pine Script v5 TradingView indicator that combines two powerful concepts: Monthly Volume Profile (with POC/VAH/VAL) and Swing Support & Resistance levels. Here's a breakdown: 1. User Inputs
pinerows = 48 // How many price rows to split the month into
va_pct = 70 // Value Area = 70% of total volume
lookback = 10 // How many bars to look back for swing highs/lows
rs_len = 8 // Visual length of S/R lines (in bars)
Plus color and style settings for boxes, POC line, and volume bars.
📐 2. Support & Resistance (Swing High/Low)
pineswingHigh = ta.pivothigh(high, lookback, lookback)
swingLow = ta.pivotlow (low, lookback, lookback)
Detects pivot highs (Resistance) and pivot lows (Support) using TradingView's built-in functions.
For each detected swing, it draws:
A horizontal line centered on that bar
A label showing "R 1234.56" (above) or "S 1234.56" (below)
Red = Resistance, Green = Support
📊 3. Monthly Volume Profile — Data Collection
This is the heart of the indicator. It tracks volume per price row within each month.
New Month Detection
pineis_new_month = ta.change(time("M")) != 0
When a new month begins:
The previous month's data is saved (prev_high, prev_low, prev_vol[], prev_start)
Current month arrays are reset to zero
Volume Distribution
Each candle's volume is distributed across the price rows it spans:
pinerow_size = (month_high - month_low) / rows
candle_vol = volume / number_of_rows_spanned
This spreads each candle's volume proportionally across all rows it touches — a simplified but effective TPO-style volume profile.
🎨 4. draw_profile() — The Drawing Function
This function does all the visual work for a given month's data:
Step 1 — Find the POC (Point of Control)
pine// Row with the highest volume = POC
The POC is the price level where the most volume was traded that month.
Step 2 — Calculate Value Area (VAH & VAL)
Starting from the POC, it expands outward (up or down, whichever row has more volume) until 70% of total volume is captured:
VAH = Value Area High (top of the 70% zone)
VAL = Value Area Low (bottom of the 70% zone)
Step 3 — Draw Everything
ElementWhat it isbox (big)The Value Area rectangle (VAL → VAH)box (small, per row)Individual volume bars — wider = more volumePOC rowRed-tinted barValue Area rowsTeal-tinted barsOutside VA rowsGray barsPOC lineRed horizontal line across the monthLabelsVAH, POC, VAL prices on the right edge
🔄 5. When Does It Draw?
pine// Draw PREVIOUS month's profile when a new month starts
if is_new_month and not na(prev_high) ...
draw_profile(prev_vol, ...)
// Draw CURRENT month's profile (live, updating) on the last bar
if barstate.islast and not na(month_high) ...
draw_profile(vol_by_row, ..., bar_index + 10)
Past months: drawn once when the month closes ✅
Current month: redrawn live on every new bar, extending slightly to the right (+10 bars) 🔄
🧠 Key Concepts Summary
POC → Price with most volume = strongest magnet/fair value
VAH → Top of Value Area → potential resistance
VAL → Bottom of Value Area → potential support
R/S → Swing pivot levels for short-term structure
The idea is that price tends to return to the POC and respect VAH/VAL as key zones — combining this with swing levels gives you a layered view of where the market has found value and where it may react.
This is a Pine Script v5 TradingView indicator that combines two powerful concepts: Monthly Volume Profile (with POC/VAH/VAL) and Swing Support & Resistance levels. Here's a breakdown: 1. User Inputs
pinerows = 48 // How many price rows to split the month into
va_pct = 70 // Value Area = 70% of total volume
lookback = 10 // How many bars to look back for swing highs/lows
rs_len = 8 // Visual length of S/R lines (in bars)
Plus color and style settings for boxes, POC line, and volume bars.
📐 2. Support & Resistance (Swing High/Low)
pineswingHigh = ta.pivothigh(high, lookback, lookback)
swingLow = ta.pivotlow (low, lookback, lookback)
Detects pivot highs (Resistance) and pivot lows (Support) using TradingView's built-in functions.
For each detected swing, it draws:
A horizontal line centered on that bar
A label showing "R 1234.56" (above) or "S 1234.56" (below)
Red = Resistance, Green = Support
📊 3. Monthly Volume Profile — Data Collection
This is the heart of the indicator. It tracks volume per price row within each month.
New Month Detection
pineis_new_month = ta.change(time("M")) != 0
When a new month begins:
The previous month's data is saved (prev_high, prev_low, prev_vol[], prev_start)
Current month arrays are reset to zero
Volume Distribution
Each candle's volume is distributed across the price rows it spans:
pinerow_size = (month_high - month_low) / rows
candle_vol = volume / number_of_rows_spanned
This spreads each candle's volume proportionally across all rows it touches — a simplified but effective TPO-style volume profile.
🎨 4. draw_profile() — The Drawing Function
This function does all the visual work for a given month's data:
Step 1 — Find the POC (Point of Control)
pine// Row with the highest volume = POC
The POC is the price level where the most volume was traded that month.
Step 2 — Calculate Value Area (VAH & VAL)
Starting from the POC, it expands outward (up or down, whichever row has more volume) until 70% of total volume is captured:
VAH = Value Area High (top of the 70% zone)
VAL = Value Area Low (bottom of the 70% zone)
Step 3 — Draw Everything
ElementWhat it isbox (big)The Value Area rectangle (VAL → VAH)box (small, per row)Individual volume bars — wider = more volumePOC rowRed-tinted barValue Area rowsTeal-tinted barsOutside VA rowsGray barsPOC lineRed horizontal line across the monthLabelsVAH, POC, VAL prices on the right edge
🔄 5. When Does It Draw?
pine// Draw PREVIOUS month's profile when a new month starts
if is_new_month and not na(prev_high) ...
draw_profile(prev_vol, ...)
// Draw CURRENT month's profile (live, updating) on the last bar
if barstate.islast and not na(month_high) ...
draw_profile(vol_by_row, ..., bar_index + 10)
Past months: drawn once when the month closes ✅
Current month: redrawn live on every new bar, extending slightly to the right (+10 bars) 🔄
🧠 Key Concepts Summary
POC → Price with most volume = strongest magnet/fair value
VAH → Top of Value Area → potential resistance
VAL → Bottom of Value Area → potential support
R/S → Swing pivot levels for short-term structure
The idea is that price tends to return to the POC and respect VAH/VAL as key zones — combining this with swing levels gives you a layered view of where the market has found value and where it may react.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.