This script is based on the excellent Volume Profile / Fixed Range indicator by @LonesomeTheBlue, so all credit for the foundations of this indicator goes to @LonesomeTheBlue
I basically made 5 instances of the original script and added horizontal lines at the beginning and end of the each Value Area. To use the script as a support and resistance tool without the Value Areas and Point of Control (POC) labels you just need to untick "Boxes" and "Labels" in the "Style" section of the “Settings”.
The default look-back periods (in bars) are 7, 30, 60, 180 and 365, but you can change this or the colour of the lines easily in the “Settings”.
The dashed lines are the respective POC.
I find this tool to be very useful for quickly identifying interest levels on any chart while also ensuring a certain amount of objectivity in your TA.
Hope you find it useful and thanks again to @LonesomeTheBlue for going through the trouble of coding this and being so generous to share it with the rest of us!
Hi, would you be able to make the POC labels adjustable in terms of color of text and the label; as well as the transparency of the label? Same with the POC dashed line to be able to change to solid and color. Also, have you thought about labels instead of lines for the VALs and VAHs? Thanks!
ashishyoksh
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brother i applied ur indicator fixed range vol profile......i hav issue actually i do indian market and i want that range applied on 5 min TF at 9:15 am.....but this indiactor plotted at 2 pm and so on....can u tell me the settings for indian market .....and one more thing i wanna use for daily time frame for example lst month trading session has 28 days so iwanna plot frv indicator for last 28 days ....can u tell me both settings plzzzzzzzzz i m trying from so long...i hope u can help me out from this issue........ thnku
sorry, I don´t know the correct setting for the Indian market. I use this on a daily, so the default lookback is basically a week, a month, 2 months, 6 months and a year. If you go on a 5 min TF, you have to recalculate this to fit your needs, e.g. 12, 24, 36 for a 1 hour (60 min / 5 min bar= 12), 2 hour, 3 hour etc lookback period. You could calculate a session like this, but you would be recalculating every day basically. Maybe it is easier to use session vol profile instead from the get go? Cheers man
Also, have you thought about labels instead of lines for the VALs and VAHs?
Thanks!