The Volume By Price, better known as Volume Profile, is an indicator that represents the volume traded at various price levels during a specific period. It visually shows where most transactions occurred, helping to identify key areas such as the Point of Control (POC), the Value Area, High Volume Node and Low Volume Node. 

INDEX

• Use Settings
• General
  • Profile Type
  • Grouping 
  • Grouping Factor
  • Tick-in-Manual
• Settings-Display
  • Background
  • Show Text
  • Text
• Visual-Aspect
  • Opacity Profile
• POC (Point-of-Control)
  • Enable
  • Edit
  • Color-Edit
  • Show Line
  • Color Line
  • Thickness Line
• Value Area
  • Ability 
  • %Value Area
  • Highlight
  • Outer Color
  • Show Line
  • Color-Line
  • Thickness-Line
• Peak-and-Valley
  • Sensitivity
  • Appearance
  • Peak
    • Evidence
    • Volume-Minimum
    • Color-Evidence
    • Show-Line
    • Thickness-Line
    • Color-Line
      • Valley
        • Highlighting
        • Minimum Volume
        • Color-Evidence
        • Show Line
        • Line Thickness
        • Color Line
      • Summary
        • Enable-Summary
        • Text Color
        • Ask Color
        • Bid Color 
    • Price Line
      • Enable
      • Line-Color
      • Line-Style
      • Line-Thickness
    • Text-on-Line
    • Custom-Time (Market-Time-Melt)
      • Enable
      • Session-Start
      • End Session

  • Settings-of-Use

    To apply the Volume By Price to the chart, click on the function Indicators, and select from the Volume By Price list. Alternatively, enable the Volume Profile directly from the Toolbar on bottom of the chart.

    Clicking on the indicator settings icon will open its configuration window, within which you will be able to make several choices regarding the functionality of the indicator itself. 

    
    

    
    

    

    
    

    
    

    
    

    General

    Profile-Type

    Select profile type to display

    • Volume
      It shows the total volume traded at each price level. This option helps identify the most active price levels in terms of quantity of orders executed.
    • Ask Bid Volume
      Displays volume separately for Ask (sell) and Bid (buy) orders, allowing you to better understand the balance between buyers and sellers at each price level.
    • Delta
      Displays the volume delta, which is the difference between the buy (bid) and sell (ask) volume. This parameter è useful for analyzing market pressure, highlighting whether the market is more oriented toward buying or selling by aggressive players.
    • Total Delta and Volume
      It provides a combination of delta and total volume, for a more complete view of market activity at each price level. This allows an assessment of both the intensity of bid and ask trades and the overall magnitude of trades.

Grouping

Profile grouping type

• Automatic
  Lets you select the mode of automatic tick grouping. This option is useful for automating the definition of the level of granularity of the profile, adapting to market characteristics and chart resolution.
• Manual
  Lets you specify a custom number of ticks for profile grouping.

Grouping Factor

Defines the grouping factor for ticks when grouping is set to automatic. A higher value represents greater aggregation.

Tick-in-Manual

Allows you to manually specify the number of ticks to be grouped together. This option provides precise control over the granularity of the profile, allowing you to adjust the grouping according to your analysis needs.

Settings-Display

Background

Volume Profile background setting

GENERAL

• Color Mode
  • None
    No coloring is applied to the volume profile. This option shows the data without color highlighting.
  • Fixed
    Applies a fixed color to the volume profile. All price levels are colored uniformly, without changes in intensity, maintaining a simple visual representation.
  • Fading
    Applies coloring with a fade-out effect, where the intensity of the color changes according to the volume. Price levels with higher volumes are represented with more intense colors, while smaller volumes are displayed with lighter colors, providing a more dynamic representation of volume.
  • More Colors
    Use a variety of colors to represent different levels of volume. This option can be customized by the user by changing the range settings
  • Method Coloring
    • Volume
      This coloring method is based on the total volume exchanged
    • Delta
      Color the profile based on the volume delta, which is the difference between buy (bid) and sell (ask) orders for each price level.
    • Imbalance
      Applies coloring based on imbalance.

• COLOR

  • Fixed Color Volume
  • Fixed Color Bid
  • Fixed Color Ask
  • Fixed Line Color

• RANGE

  • Defining Range
    • Automatic
      Platform default ranges
    • User
      Allows you to define ranges of values customized by the user.

Show Text

Activating it will show the total volume for each tick/level of the Volume Profile

Text

Set Volume Profile text. this function allows you to customize the color of the BID, ASK, Total Volume and Font Size values

Visual Appearance

Profile Opacity 

Checks the opacity of the volume profile. A lower value makes the profile more transparent, while a higher value makes the profile more opaque and visible.

POC (Point-of-Control)

Enable

Enable or disable the display of the Point of Control (POC) on the chart. The POC represents the price level with the highest volume.

Highlight

Lets you visually highlight the POC, making it easier to identify than other price levels on the chart.

Color Highlight

Allows you to select the color used to highlight the POC, improving the visibility of this key layer.

Show Line

Defines whether to display the POC line on the chart.

Line-Color

Select the color of the line representing the POC. 

Line-Thickness

Adjusts the line thickness of the POC. A thicker border makes the line more obvious, making it easier to identify.

Value Area

Enable 

Enable or disable the display of the Value Area. The Value Area represents the price range within which a certain percentage volume of total trades has occurred.

% Value Area

Defines the percentage of the total volume that is used to calculate the Value Area. For example, setting a value of 70% will show the price range within which 70% of the total volume occurred.

Highlight

Enable the option to visually highlight the Value Area on the candle. This allows you to highlight the area of greatest volumetric activity.

Outer Color

Select the color used to highlight the area outside the Value Area. This helps to clearly differentiate the inner area from the area outside the selected value.

Show Line

Delimits the extremes of the Value Area High and Low by drawing a line on the chart

Line-Color

allows you to select the color of the line that delimits the Value Area price range on the chart 

Line-Thickness

Allows you to adjust the thickness of the line that borders the Value Area on the chart according to the user's preferences.

Peaks-and-Valley

Peaks and Valleys on the Volume Profile visually represent the price areas with the highest and lowest volume traded. Peaks indicate price levels where high trading volume is concentrated, often highlighting areas of strong market interest. Valleys, on the other hand, represent price areas where there's been low trading volume, signaling levels of lower interest or potential "void zones" which can facilitate rapid price movements. These key points help traders identify potential areas of equilibrium or disequilibrium in the market, providing useful information for planning entry and exit strategies. 

Sensitivity

Adjusts the sensitivity of the detection of peaks and valleys. A higher value makes the detection more accurate, identifying fewer peaks and valleys, while a lower value reduces the identification filter by showing more levels.

Appearance

Peak

Highlight

Lets you visually highlight the Peaks on the Volume Profile

Minimum Volume

Defines the minimum volume value to identify a peak. Peaks with volumes below this value will not be displayed.

Highlight Color

Select the color to highlight peaks, making them more visible on the chart. The color you choose allows easy distinction of high volume areas.

Show Line

Show Line for each calculated peak. This line provides an additional visual reference, highlighting the price level continuously on the chart.

Line-Thickness

Adjusts the thickness of the line representing the peak. Greater thickness makes the line more noticeable.

Line Color

Allows you to select the color of the peak line, helping to customize the chart and making it easier to distinguish between different elements.

Valley

Highlight

Lets you visually highlight the Valleys on the Volume Profile

Minimum Volume

Defines the minimum volume value to identify a Valley. Valleys with volumes below this value will not be displayed.

Highlight Color

Select the color to highlight valleys, making them more visible on the chart. The color you choose allows easy distinction of low-volume areas.

Show Line

Show Line for each calculated valley. This line provides an additional visual reference, highlighting the price level continuously on the chart.

Line-Thickness

Adjusts the thickness of the line representing the Valley. Greater thickness makes the line more obvious.

Line Color

Allows you to select the color of the Valley line, helping to customize the chart and making it easier to distinguish between different elements.

Summary

Summary of the Volume Profile allows you to view a detailed summary of the volume data exchanged for each profile on the chart. The summary shows information such as total volume, delta, number of trades, number of ticks, and other statistics related to market activity. This summary is useful to quickly understand the main characteristics of the current volume profile and previous profiles, facilitating analysis and comparison of different market sessions.

Enable-Summary

Enable the display of summary data for each volume profile on the chart.

Text Color

It allows you to select the color of the text used for the summary, improving readability and customization of the visual appearance on the chart.

Ask Color

Defines the color for the volume of orders in ask (sale).

Bid Color

Defines the color for bid (purchase) order volume.

Price Line

Enable

Enables the price line in the vertical chart area of the Volume Profile.

Line-Color

Defines the color of the line

Line-Style

Defines the style of the line, being able to choose between solid, hatch, dot, dash dot, dash dot dot.

Line Thickness

Adjusts the thickness of the price line, greater thickness makes the line more obvious.

Text-on-Line

Enables text on lines derived from Volume Profile, such as VPOC and Value Area. 

Custom Time (Time-Market-Mode)

Enable

Enable custom time

Session Start

Sets the start time of the trading session to be considered for profile calculation. This value is specified based on the U.S. time zone, allowing the start of the session to be aligned with the opening of the U.S. market.

Session End

Defines the end time of the trading session. This value also follows the U.S. time zone, ensuring that the volume profile calculation covers the entire relevant trading period.