Volume Profile

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Volume Profile

Postby Steve_W » Sat Sep 09, 2023 2:29 am

Hi all,

I've coded up a drag and drop volume profile indicator tool.
Use via custom tool button, or right click->add tool->volume profile then drag+drop a box over area of interest. The box may be resized or moved dynamically around the chart.
Parameters are histogram resolution in pips, and source data time period

Install as normal, and copy 16x16 icon vol_profile.png to C:\Program Files (x86)\Candleworks\FXTS2\Tools\Custom\

The idea is to look at custom areas of consolidation of trends that may contain areas of high volume. These may provide future areas of support and resistance.

All the best, Steve

[img]
screen_shot.png
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vol_profile.lua
version 1.0
(14.18 KiB) Downloaded 372 times

vol_profile.png
icon
vol_profile.png (475 Bytes) Viewed 6815 times
Attachments
screen_shot.png
screenshot
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Re: Volume Profile

Postby Steve_W » Sun Sep 10, 2023 4:20 pm

Added some statistics to help applying over areas of consolidation and potential breakout trades.
The adjustable levels are set to 3 sigma and 1:1 RR by default.
Right click mouse menu to enable/disable, or set in parameters.
The statistics features is only intended for use in areas of consolidation - turn off if looking at a wider trend

Steve

Retrospective example to give an idea
USDCAD.png
USDCAD example

parameters.png
parameters

vol_profile.lua
version 2.0
(20.63 KiB) Downloaded 356 times
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Re: Volume Profile

Postby susan61 » Mon Oct 09, 2023 9:32 am

Hey
Great tool but I noticed when you change charts to a different pair you lose all the info is there a way this can be kept and able to flick through different pairs ? and a separate request is there a MT5 version or could that be done
hope you can help with this a
Susan
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Re: Volume Profile

Postby Apprentice » Thu Oct 12, 2023 3:50 am

We have added your request to the development list.
Development reference 915
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Re: Volume Profile

Postby Steve_W » Sun Oct 15, 2023 5:57 am

susan61 wrote:Hey
Great tool but I noticed when you change charts to a different pair you lose all the info is there a way this can be kept and able to flick through different pairs ? and a separate request is there a MT5 version or could that be done
hope you can help with this a
Susan


Susan, I've hopfully addressed that code issue with this version. It now saves a dummy variable, "Loaded on Instrument", to work out which chart instrument it was drawn on, and suppresses reload if looking at a different chart. Previously it would hang on code errors and you lost your drawings.
With new code, check chart elements->chart elements... if any confusion (if you reset the dummy variable to another instrument it will move it - just leave as default). I couldn't presently work out a better solution here.

other changes
- four corners grabbing
- option to renormalise histogram if box is moved
- some code cosmetics and version tracking

Install as before or instructions in code - also remove previous installation to delete unwated icon

Steve

vol_profile_v2_1.lua
volume profile v2.1
(26.05 KiB) Downloaded 159 times
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Re: Volume Profile

Postby Steve_W » Sat Nov 18, 2023 3:24 am

Some fairly big updates to this tool:
- profile can source volume data from a different instrument. See screenshot example showing two overlaid tool instances - SPX500 using SPX500 volume, and SPX500 using USDOLLAR volume. Often the profiles are very similar, but here USD volume was previously high at recent SPX turning points.
- code refactor, improved calculation, data loading, speed and general operation [it should work a lot faster and minimises data download]
- multiple instances on same chart for different instruments - changing chart instrument is possible without losing previous drawings on return
- band [default] or box modes
- bug fixes and alternate tool options to make it more useable + flexible. Auto sensible params to prevent loading m1 data on W1 chart [delay issue]

Install as normal - see top of thread, include icon. use right-click or tool icon to add to chart

I may add the ability to point and click to graphically add levels in future... work in progress

vol_profile_v3_0.lua
Version 3.0
(45.14 KiB) Downloaded 120 times

SPX500 D1 - alternate vol sources.png
Alternate volume source - here two instances overlaid, SPX volume compared to USDOLLAR volume on SPX

SPX500 D1 - normal dist and zone.png
Box with normal distribution plotted as a zone

tool_options.png
Tool options

multiple_instances_on_same_chart.png
Multiple tool instances on same chart (to allow chart switching and return)
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