![]() ![]() ![]() The particular logic used to decide which lower timeframe should be used for the calculation differs on an indicator-by-indicator basis. Once analyzed, this data is added to the Volume Profile histogram. For example, to calculate the Volume Profile for one daily session, we load all 1m bars that were traded in that daily session, analyze the price levels where they were traded and the direction that the price moved in – if the bar closes above or equal to its open, this counts as an Up bar, otherwise it's a Down bar. Volume Profile indicators are calculated using the data for the same symbol from the lower timeframes. You can use the following Volume Profile types: Essentially, Volume Profile takes the total volume traded at a specific price level during the specified time period and divides the total volume into either up volume (trades that moved the price up) or down volume (trades that moved the price down) and then makes that information easily visible to the trader. The indicator takes into account user-defined parameters such as number of rows and time period and plots a histogram on the chart meant to reveal dominant and/or significant price levels based on volume. Volume Profile is an advanced charting indicator that displays trading activity over a specified time period at specified price levels. ![]()
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