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Range Volume Density Profile [Drizzle_Algo56]
Range Volume Density Profile
Overview
Range Volume Density Profile studies the auction inside a price territory defined by two manually selected anchors. It combines footprint volume, a contiguous Value Area, confirmed volume nodes and geometric shape recognition in one framework focused on the internal structure of a chosen range.
Its central idea is simple: keep the price territory fixed and observe how participation accumulates inside it across the selected trading days.
Each return to that territory can contribute new information to the same distribution. Concentrated activity, thinly traded transitions and changes in the shape of participation become part of one local map.
The indicator provides two independently styled display columns, allowing Buy/Sell participation and total volume with delta coloring to be viewed side by side. A shape engine classifies the distribution as D, P, b, B or Mixed, with optional contours and a dashboard readout.
The anchors define where the investigation takes place. The history settings define which observations contribute to it.
Giving the Auction a Fixed Territory
A meaningful market area rarely consists of one exact price. It often extends across several price levels, multiple rotations and repeated encounters between supply and demand.
Range Volume Density Profile places that connected territory at the center of the analysis.
Once the lower and upper anchors are selected, the indicator constructs a local volume distribution between them. The chosen area develops its own Point of Control, Value Area, internal volume concentrations and distribution shape.
This creates a small analytical universe inside the broader market. A region that appears as support, resistance or consolidation on the main chart can be examined as an auction with its own internal organization.
The boundaries remain fixed while the activity inside them develops.
Why a Price Range Can Matter More Than One Bin
A profile bin is a discretized representation. Its boundaries depend on the chosen price range and the number of analysis rows. Changing that division can spread a local concentration across several rows or move the apparent maximum into a neighboring row.
An individual bin can therefore appear more precise than the underlying resolution justifies.
A deliberately selected range across multiple price levels allows a broader structural question to be asked. Where does participation concentrate inside this territory? Which areas connect larger distributions? Where do pronounced volume valleys develop? How does directional volume classification relate to the overall concentration of activity?
The range gains significance through its relationship to observable market behavior, such as an established balance, repeated reactions or a transition between distributions. Its size alone does not establish its importance.
The purpose is to examine a connected market area without reducing the entire analysis to the location of one visually dominant row.
In this indicator, density refers to the relative concentration of recorded volume across equal price intervals within the selected range. It is not a separate measurement of order book depth or hidden liquidity.
A Price Anchored Perspective on Microstructure
The conceptual shift comes from separating two decisions that are often made together.
Price boundaries determine the territory.
The lookback determines the observation horizon.
The same price area can be studied across different trading days without redefining its vertical boundaries every time the market approaches it again.
When price leaves the range and later returns, eligible activity inside the selected history window contributes to the same local distribution. Multiple visits can therefore build a combined picture of how that territory has been traded.
A narrow concentration may broaden. A previously thin section may fill in. Two distinct concentrations may emerge within the same boundaries.
The price territory becomes a consistent reference against which new observations can be interpreted.
Time remains part of the calculation. Changing the lookback, chart timeframe or available footprint data can change the profile. The separation concerns the choice of price boundaries, rather than complete independence from time or data resolution.
Viewed through the auction concepts associated with Steidlmayer, this offers a local extension of profile analysis. Traditional TPO Market Profile organizes time opportunities at price. Range Volume Density Profile organizes available footprint volume inside a selected price territory.
The contribution is the combination of fixed price boundaries, repeated visits, internal volume structure and complementary visual views of the same distribution. It offers a different way to investigate local auction behavior without claiming to reconstruct every layer of exchange microstructure.
How the Profile Is Constructed
The two price anchors can be selected in either order. The lower value becomes the bottom boundary and the higher value becomes the top boundary. The interval between them is divided into equally sized analysis rows.
The volume source is TradingView's footprint request. Each available footprint row is compared with the selected price range and the profile's analysis rows.
Where a source row overlaps only part of an interval, its contribution is allocated proportionally to the overlapping price distance. Activity outside the selected range is excluded from the profile contribution.
This proportional allocation is an assumption within the available source resolution. It does not create additional transaction detail below that resolution.
The following code excerpt shows when a chart candle touches the chosen territory:
Pine Script®
The actual volume allocation then examines the price intervals of the individual footprint rows. A candle touching the range does not mean that all of its volume is assigned to that range.
The source data is requested through:
Pine Script®
Two Resolutions with Different Roles
Ticks per footprint row determines the price resolution of the requested footprint data.
Profile rows determines how the selected territory is divided for profile analysis.
Increasing the number of profile rows creates a finer analytical grid. It does not generate information below the resolution of the underlying footprint data.
This separation allows the display and analysis to be adjusted to the size of the territory being studied. A compact price area may require a different configuration from a much broader range.
Local POC and Contiguous Value Area
The Point of Control identifies the analysis row with the highest combined volume inside the selected price range and history window.
The Value Area is constructed outward from that concentration through neighboring rows until the selected volume percentage is reached or exceeded. The default setting is 70 percent.
Value Area High and Value Area Low mark the boundaries of this contiguous region.
These are local references. A POC calculated inside the selected territory does not have to match the POC of a full session. The local Value Area may also differ substantially from a distribution covering the entire market range.
This distinction allows the internal organization of a specific area to be studied on its own terms.
Confirmed HVN and LVN Zones
The optional node engine examines a smoothed version of the profile for local volume concentrations and valleys.
High Volume Nodes
An HVN identifies a local concentration of activity relative to its surroundings. It highlights a section where more volume has accumulated within the selected distribution.
Low Volume Nodes
An LVN identifies a local reduction in volume between more prominent surrounding areas. These valleys make transitions and thinner sections of the distribution easier to locate.
Detection considers neighboring structure, prominence relative to surrounding shoulders and configurable limits on zone height.
Candidates must satisfy consecutive scan requirements before confirmation. The default is two consecutive qualifying scans. Separate thresholds for entry and retention, together with an allowance for missing confirmations, reduce rapid appearance and disappearance around a single threshold.
Node scans take place on confirmed chart bars. The displayed profile can already include provisional footprint information from the current bar.
A zone and its marker line have different roles. The zone represents a price interval. A marker can identify the lowest or highest smoothed volume row inside that interval, rather than simply marking the zone's upper or lower price boundary.
Zone backgrounds stop before the first profile column. Node marker lines can continue through the displayed columns. LVN and HVN line styles can be configured separately as Solid, Dashed or Dotted.
Zones and zone labels are disabled by default and can be enabled when needed.
Two Columns, One Underlying Auction
The second column provides another visual interpretation of the same data. Both columns use the same anchors, lookback and underlying distribution.
By default, the first column separates Buy and Sell volume contributions. The second displays total volume with coloring based on each row's relative delta.
In the second mode, width represents total volume. Color adds information about the relative difference between the two volume categories. Width does not represent absolute delta magnitude.
Together, the columns allow participation concentration and directional volume composition to be examined at the same prices.
The second column has independent controls for offset, maximum width, colors, transparency, Value Area shading and range background. It is enabled by default.
Because both columns share their source distribution, they are complementary views rather than two independent confirmations.
Shape Recognition: Reading the Distribution as a Whole
The shape engine adds a description of the entire local distribution to the individual reference levels.
It maps the occupied portion of the profile onto a smaller analysis grid and applies smoothing. Untraded outer tails are excluded from this geometric classification.
The engine evaluates properties including dominant peak location, volume mass distribution, symmetry and the separation of significant concentrations.
D Shape
A comparatively centered and balanced distribution, with greater concentration in the middle and reduced activity toward the outer edges.
P Shape
A distribution with a more prominent concentration in the upper portion of the analyzed price territory.
b Shape
A distribution with a more prominent concentration in the lower portion of the analyzed price territory.
B Shape
A distribution containing two sufficiently separated significant concentrations, with a meaningful valley between them.
Mixed
A distribution that does not sufficiently meet the defined conditions of the other classes. Irregular or more complex structures may fall into this category.
Waiting
The current data is insufficient for classification. This can result from too few contributing footprint bars, missing volume or too few occupied analysis rows.
These labels describe geometry. A P shape does not prove short covering, a b shape does not prove liquidation, and a D shape does not guarantee a return toward the center.
Contours can be enabled and colored separately for each column. The classification itself is shared because both columns represent the same underlying profile.
Dashboard: A Local Auction Readout
The dashboard brings together the selected price boundaries, observation horizon, available data and the main results of the profile analysis.
It includes total volume, Buy and Sell volume, delta, POC, VAL, VAH, detected node counts and the current shape classification.
The visit counter measures contiguous clusters of chart bars touching the range. New trading days are treated separately. It counts chart based interaction clusters rather than individual participants, orders or transactions.
The default dashboard position is the upper right corner. Position and text size can be adjusted.
Lookback and History Mode
Current uses the current trading day.
Previous 1 day uses the current trading day plus one completed trading day.
Previous 2 days uses the current trading day plus two completed trading days.
Additional presets cover three, five, ten and twenty previous trading days. Custom allows up to 3,650 previous trading days to be selected.
All loaded history uses all loaded chart bars with available footprint data. The numerical day selection does not apply in this mode.
Trading day boundaries follow the symbol's daily candles. Selecting a longer lookback does not guarantee that the corresponding amount of historical footprint data is available.
With a rolling day window, expired volume is removed as older days leave the selection. The anchors remain fixed, so the distribution can change even while its vertical boundaries stay in place.
A Practical Analysis Workflow
1. Choose a meaningful price territory.
Select an area with a visible structural reason for investigation. An established balance, repeated reaction area or transition between distributions can provide a clear starting point.
2. Define the observation horizon.
Decide whether the current trading day or activity across multiple days is relevant. Keep that horizon consistent when comparing related observations.
3. Read the distribution first.
Study the POC, Value Area and overall concentration of volume. Then use the second column to examine the composition of activity at the same prices.
4. Examine internal transitions.
Enable HVN and LVN zones if required. Compare the identified concentrations and valleys with visible reactions in the surrounding chart.
5. Use shape as context.
Consider the classified geometry alongside current price location and broader market structure. A shape label describes the distribution rather than prescribing a trade.
6. Observe later returns.
Keep the anchors unchanged for a consistent comparison. Account for the effect of newly added activity and older days leaving the observation window.
Default Configuration
100 profile rows.
5 ticks per requested footprint row.
70 percent Value Area.
Maximum display width of 200 bars for each column.
Second column enabled.
Green for Buy volume or positive delta, and violet for Sell volume or negative delta. The second column's colors remain independently adjustable.
Zones and zone labels disabled.
Shape recognition and contours enabled.
Dashboard positioned at the upper right.
Display width in bars controls the horizontal size of the graphic. It does not define an additional historical lookback.
Data Requirements and Limitations
The indicator uses TradingView footprint data. Buy and Sell categories follow TradingView's classification based on price movements within smaller time intervals. They are not an independent reconstruction of a complete exchange order book or every executed transaction by aggressor side.
Footprint requests require a supported TradingView subscription. The current TradingView documentation specifies Premium or Ultimate. Even with a supported subscription, some bars may not have available footprint data.
The script is designed for standard time based intraday candles.
The current bar can provisionally change the profile, its reference levels and its shape. Zone confirmation takes place on closed chart bars. Changing anchors, resolution or history settings recalculates the indicator.
The price range remains manually defined and does not automatically expand when price breaks outside it.
At high display densities, neighboring visual rows may be combined to remain within drawing limits. The underlying profile analysis retains its selected resolution. Large offsets can also reduce the visible width of the second column because of TradingView's limits on future drawing positions.
The profile provides a local volume perspective. It does not measure hidden liquidity, identify participant intentions or reproduce the complete microstructure of an exchange.
Methodology and Distinctive Contribution
The source code references Aurora Profile VWAP v1.14 as a methodological influence for smoothing, local volume nodes and contiguous Value Area construction.
This implementation brings those components together with a manually bounded price territory, rolling trading day history, two coordinated display modes and geometric shape recognition.
Its distinctive contribution is the analytical workflow: a selected piece of the market becomes a persistent local auction territory in which concentrations, transitions and distribution geometry can be studied together.
Range Volume Density Profile is an analytical visualization tool. It contains no automated trading strategy and does not assign guaranteed price outcomes to profile shapes or volume nodes.
Overview
Range Volume Density Profile studies the auction inside a price territory defined by two manually selected anchors. It combines footprint volume, a contiguous Value Area, confirmed volume nodes and geometric shape recognition in one framework focused on the internal structure of a chosen range.
Its central idea is simple: keep the price territory fixed and observe how participation accumulates inside it across the selected trading days.
Each return to that territory can contribute new information to the same distribution. Concentrated activity, thinly traded transitions and changes in the shape of participation become part of one local map.
The indicator provides two independently styled display columns, allowing Buy/Sell participation and total volume with delta coloring to be viewed side by side. A shape engine classifies the distribution as D, P, b, B or Mixed, with optional contours and a dashboard readout.
The anchors define where the investigation takes place. The history settings define which observations contribute to it.
Giving the Auction a Fixed Territory
A meaningful market area rarely consists of one exact price. It often extends across several price levels, multiple rotations and repeated encounters between supply and demand.
Range Volume Density Profile places that connected territory at the center of the analysis.
Once the lower and upper anchors are selected, the indicator constructs a local volume distribution between them. The chosen area develops its own Point of Control, Value Area, internal volume concentrations and distribution shape.
This creates a small analytical universe inside the broader market. A region that appears as support, resistance or consolidation on the main chart can be examined as an auction with its own internal organization.
The boundaries remain fixed while the activity inside them develops.
Why a Price Range Can Matter More Than One Bin
A profile bin is a discretized representation. Its boundaries depend on the chosen price range and the number of analysis rows. Changing that division can spread a local concentration across several rows or move the apparent maximum into a neighboring row.
An individual bin can therefore appear more precise than the underlying resolution justifies.
A deliberately selected range across multiple price levels allows a broader structural question to be asked. Where does participation concentrate inside this territory? Which areas connect larger distributions? Where do pronounced volume valleys develop? How does directional volume classification relate to the overall concentration of activity?
The range gains significance through its relationship to observable market behavior, such as an established balance, repeated reactions or a transition between distributions. Its size alone does not establish its importance.
The purpose is to examine a connected market area without reducing the entire analysis to the location of one visually dominant row.
In this indicator, density refers to the relative concentration of recorded volume across equal price intervals within the selected range. It is not a separate measurement of order book depth or hidden liquidity.
A Price Anchored Perspective on Microstructure
The conceptual shift comes from separating two decisions that are often made together.
Price boundaries determine the territory.
The lookback determines the observation horizon.
The same price area can be studied across different trading days without redefining its vertical boundaries every time the market approaches it again.
When price leaves the range and later returns, eligible activity inside the selected history window contributes to the same local distribution. Multiple visits can therefore build a combined picture of how that territory has been traded.
A narrow concentration may broaden. A previously thin section may fill in. Two distinct concentrations may emerge within the same boundaries.
The price territory becomes a consistent reference against which new observations can be interpreted.
Time remains part of the calculation. Changing the lookback, chart timeframe or available footprint data can change the profile. The separation concerns the choice of price boundaries, rather than complete independence from time or data resolution.
Viewed through the auction concepts associated with Steidlmayer, this offers a local extension of profile analysis. Traditional TPO Market Profile organizes time opportunities at price. Range Volume Density Profile organizes available footprint volume inside a selected price territory.
The contribution is the combination of fixed price boundaries, repeated visits, internal volume structure and complementary visual views of the same distribution. It offers a different way to investigate local auction behavior without claiming to reconstruct every layer of exchange microstructure.
How the Profile Is Constructed
The two price anchors can be selected in either order. The lower value becomes the bottom boundary and the higher value becomes the top boundary. The interval between them is divided into equally sized analysis rows.
The volume source is TradingView's footprint request. Each available footprint row is compared with the selected price range and the profile's analysis rows.
Where a source row overlaps only part of an interval, its contribution is allocated proportionally to the overlapping price distance. Activity outside the selected range is excluded from the profile contribution.
This proportional allocation is an assumption within the available source resolution. It does not create additional transaction detail below that resolution.
The following code excerpt shows when a chart candle touches the chosen territory:
The actual volume allocation then examines the price intervals of the individual footprint rows. A candle touching the range does not mean that all of its volume is assigned to that range.
The source data is requested through:
Two Resolutions with Different Roles
Ticks per footprint row determines the price resolution of the requested footprint data.
Profile rows determines how the selected territory is divided for profile analysis.
Increasing the number of profile rows creates a finer analytical grid. It does not generate information below the resolution of the underlying footprint data.
This separation allows the display and analysis to be adjusted to the size of the territory being studied. A compact price area may require a different configuration from a much broader range.
Local POC and Contiguous Value Area
The Point of Control identifies the analysis row with the highest combined volume inside the selected price range and history window.
The Value Area is constructed outward from that concentration through neighboring rows until the selected volume percentage is reached or exceeded. The default setting is 70 percent.
Value Area High and Value Area Low mark the boundaries of this contiguous region.
These are local references. A POC calculated inside the selected territory does not have to match the POC of a full session. The local Value Area may also differ substantially from a distribution covering the entire market range.
This distinction allows the internal organization of a specific area to be studied on its own terms.
Confirmed HVN and LVN Zones
The optional node engine examines a smoothed version of the profile for local volume concentrations and valleys.
High Volume Nodes
An HVN identifies a local concentration of activity relative to its surroundings. It highlights a section where more volume has accumulated within the selected distribution.
Low Volume Nodes
An LVN identifies a local reduction in volume between more prominent surrounding areas. These valleys make transitions and thinner sections of the distribution easier to locate.
Detection considers neighboring structure, prominence relative to surrounding shoulders and configurable limits on zone height.
Candidates must satisfy consecutive scan requirements before confirmation. The default is two consecutive qualifying scans. Separate thresholds for entry and retention, together with an allowance for missing confirmations, reduce rapid appearance and disappearance around a single threshold.
Node scans take place on confirmed chart bars. The displayed profile can already include provisional footprint information from the current bar.
A zone and its marker line have different roles. The zone represents a price interval. A marker can identify the lowest or highest smoothed volume row inside that interval, rather than simply marking the zone's upper or lower price boundary.
Zone backgrounds stop before the first profile column. Node marker lines can continue through the displayed columns. LVN and HVN line styles can be configured separately as Solid, Dashed or Dotted.
Zones and zone labels are disabled by default and can be enabled when needed.
Two Columns, One Underlying Auction
The second column provides another visual interpretation of the same data. Both columns use the same anchors, lookback and underlying distribution.
By default, the first column separates Buy and Sell volume contributions. The second displays total volume with coloring based on each row's relative delta.
In the second mode, width represents total volume. Color adds information about the relative difference between the two volume categories. Width does not represent absolute delta magnitude.
Together, the columns allow participation concentration and directional volume composition to be examined at the same prices.
The second column has independent controls for offset, maximum width, colors, transparency, Value Area shading and range background. It is enabled by default.
Because both columns share their source distribution, they are complementary views rather than two independent confirmations.
Shape Recognition: Reading the Distribution as a Whole
The shape engine adds a description of the entire local distribution to the individual reference levels.
It maps the occupied portion of the profile onto a smaller analysis grid and applies smoothing. Untraded outer tails are excluded from this geometric classification.
The engine evaluates properties including dominant peak location, volume mass distribution, symmetry and the separation of significant concentrations.
D Shape
A comparatively centered and balanced distribution, with greater concentration in the middle and reduced activity toward the outer edges.
P Shape
A distribution with a more prominent concentration in the upper portion of the analyzed price territory.
b Shape
A distribution with a more prominent concentration in the lower portion of the analyzed price territory.
B Shape
A distribution containing two sufficiently separated significant concentrations, with a meaningful valley between them.
Mixed
A distribution that does not sufficiently meet the defined conditions of the other classes. Irregular or more complex structures may fall into this category.
Waiting
The current data is insufficient for classification. This can result from too few contributing footprint bars, missing volume or too few occupied analysis rows.
These labels describe geometry. A P shape does not prove short covering, a b shape does not prove liquidation, and a D shape does not guarantee a return toward the center.
Contours can be enabled and colored separately for each column. The classification itself is shared because both columns represent the same underlying profile.
Dashboard: A Local Auction Readout
The dashboard brings together the selected price boundaries, observation horizon, available data and the main results of the profile analysis.
It includes total volume, Buy and Sell volume, delta, POC, VAL, VAH, detected node counts and the current shape classification.
The visit counter measures contiguous clusters of chart bars touching the range. New trading days are treated separately. It counts chart based interaction clusters rather than individual participants, orders or transactions.
The default dashboard position is the upper right corner. Position and text size can be adjusted.
Lookback and History Mode
Current uses the current trading day.
Previous 1 day uses the current trading day plus one completed trading day.
Previous 2 days uses the current trading day plus two completed trading days.
Additional presets cover three, five, ten and twenty previous trading days. Custom allows up to 3,650 previous trading days to be selected.
All loaded history uses all loaded chart bars with available footprint data. The numerical day selection does not apply in this mode.
Trading day boundaries follow the symbol's daily candles. Selecting a longer lookback does not guarantee that the corresponding amount of historical footprint data is available.
With a rolling day window, expired volume is removed as older days leave the selection. The anchors remain fixed, so the distribution can change even while its vertical boundaries stay in place.
A Practical Analysis Workflow
1. Choose a meaningful price territory.
Select an area with a visible structural reason for investigation. An established balance, repeated reaction area or transition between distributions can provide a clear starting point.
2. Define the observation horizon.
Decide whether the current trading day or activity across multiple days is relevant. Keep that horizon consistent when comparing related observations.
3. Read the distribution first.
Study the POC, Value Area and overall concentration of volume. Then use the second column to examine the composition of activity at the same prices.
4. Examine internal transitions.
Enable HVN and LVN zones if required. Compare the identified concentrations and valleys with visible reactions in the surrounding chart.
5. Use shape as context.
Consider the classified geometry alongside current price location and broader market structure. A shape label describes the distribution rather than prescribing a trade.
6. Observe later returns.
Keep the anchors unchanged for a consistent comparison. Account for the effect of newly added activity and older days leaving the observation window.
Default Configuration
100 profile rows.
5 ticks per requested footprint row.
70 percent Value Area.
Maximum display width of 200 bars for each column.
Second column enabled.
Green for Buy volume or positive delta, and violet for Sell volume or negative delta. The second column's colors remain independently adjustable.
Zones and zone labels disabled.
Shape recognition and contours enabled.
Dashboard positioned at the upper right.
Display width in bars controls the horizontal size of the graphic. It does not define an additional historical lookback.
Data Requirements and Limitations
The indicator uses TradingView footprint data. Buy and Sell categories follow TradingView's classification based on price movements within smaller time intervals. They are not an independent reconstruction of a complete exchange order book or every executed transaction by aggressor side.
Footprint requests require a supported TradingView subscription. The current TradingView documentation specifies Premium or Ultimate. Even with a supported subscription, some bars may not have available footprint data.
The script is designed for standard time based intraday candles.
The current bar can provisionally change the profile, its reference levels and its shape. Zone confirmation takes place on closed chart bars. Changing anchors, resolution or history settings recalculates the indicator.
The price range remains manually defined and does not automatically expand when price breaks outside it.
At high display densities, neighboring visual rows may be combined to remain within drawing limits. The underlying profile analysis retains its selected resolution. Large offsets can also reduce the visible width of the second column because of TradingView's limits on future drawing positions.
The profile provides a local volume perspective. It does not measure hidden liquidity, identify participant intentions or reproduce the complete microstructure of an exchange.
Methodology and Distinctive Contribution
The source code references Aurora Profile VWAP v1.14 as a methodological influence for smoothing, local volume nodes and contiguous Value Area construction.
This implementation brings those components together with a manually bounded price territory, rolling trading day history, two coordinated display modes and geometric shape recognition.
Its distinctive contribution is the analytical workflow: a selected piece of the market becomes a persistent local auction territory in which concentrations, transitions and distribution geometry can be studied together.
Range Volume Density Profile is an analytical visualization tool. It contains no automated trading strategy and does not assign guaranteed price outcomes to profile shapes or volume nodes.
Sürüm Notları
added new Display option Inside Chart with optional offset added new Visit mode for the second Profile
Sürüm Notları
updated defaults
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.