https://www.tradingview.com/script/HTck ... le-Levels/
Please note the text below is made by AI, not me.
The code is provided as is and if you need to change it, please ask AI.
Removed Nifty50 and expiration date features from the original code.
Therefore the code name is now Universal_VPL
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Universal PUT & CALL Volume Profile Levels (MT5) - Complete Guide
Hello traders!
I am sharing the **Universal VPL (Volume Profile Levels)** indicator for MetaTrader 5. This is a highly advanced, multi-faceted tool converted and upgraded from a popular TradingView script. It is designed to give you a structural edge by mapping out institutional interest, daily liquidity, and precise psychological grids.
While originally tailored for options (PUT/CALL biases), this **Universal Version** works phenomenally on **all symbols**—especially Indices, Forex, and Crypto—by utilizing dual overlapping volume profiles to gauge short-term vs. long-term market control.
Here is a breakdown of its features and how you can use them to find high-probability setups.
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Key Features
**1. Dual Volume Profiles (PUT & CALL Profiles)**
The indicator draws two separate Volume Profiles on your chart. In the universal context:
* **"PUT" Profile (Default 100 Bars):** Represents a longer lookback period to establish the macro bias.
* **"CALL" Profile (Default 70 Bars):** Represents a shorter lookback period to capture recent, aggressive market participation.
* *Both profiles automatically calculate and draw their own Point of Control (POC), Value Area High (VAH), and Value Area Low (VAL).*
**2. Dynamic Psychological Grid**
Institutions love round numbers. The indicator automatically draws a customizable grid (e.g., every 50 or 100 points) acting as heavy psychological support and resistance zones.
**3. Trend-Filtered Candles**
The indicator overrides your default candlesticks with a built-in EMA filter:
* **Green Candles:** Price is currently trading *above* the baseline EMA (Bullish Momentum).
* **Red Candles:** Price is currently trading *below* the baseline EMA (Bearish Momentum).
**4. Previous Daily Liquidity Levels**
The indicator automatically plots the **Previous Day’s High, Low, and Close**. These are critical liquidity pools where major stop hunts and reversals occur.
**5. Real-Time Bias Dashboard**
A clean UI dashboard sits in the corner of your chart, giving you a live mathematical breakdown of the current VAH, POC, and VAL values, the spread between them, and an instant read on the market bias (Above/Below POC).
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How to Trade with the Indicator
This indicator is built for **confluence trading**. You should use the overlapping tools to identify high-value zones where multiple structural elements align.
#### Strategy 1: The "Value Area" Reversion
The Value Area represents where 70-95% of the trading volume occurred.
* **The Setup:** When the price aggressively leaves the Value Area and spikes into a Psychological Grid level or Previous Day High/Low, look for exhaustion.
* **The Trade:** Fade the move back toward the **POC (Point of Control)**. The POC acts as a heavy magnet for price. If price rejects off the VAH, target the POC. If it falls through the POC, target the VAL.
#### Strategy 2: Dual POC Trend Trading
Use the dashboard to read the alignment of the two profiles.
* **Bullish Alignment:** The price is trading **ABOVE** both the Short (CALL) POC and Long (PUT) POC.
* **Bearish Alignment:** The price is trading **BELOW** both the Short (CALL) POC and Long (PUT) POC.
* **The Trade:** Only take trades in the direction of the Dual Bias. Wait for the Trend Candles to turn Green (for longs) or Red (for shorts) as your execution trigger.
#### Strategy 3: The Liquidity Sweep (Stop Hunt)
Watch how the price interacts with the **Previous Day High (Blue Line)** and **Previous Day Low (Blue Line)**.
* If the price pushes just past the Previous Day High, taps a psychological grid line, and immediately closes back below (creating a Red Trend Candle), this is a classic liquidity sweep.
* **The Trade:** Enter short, targeting the Previous Day Close (Red Line) or the nearest POC.
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Recommended Settings & Customization
* **Lookback Bars:** Adjust the `PUT Lookback` and `CALL Lookback` to fit your timeframe. For M15 charts, 100 and 70 are great. For H1, you may want to shorten them.
* **Grid Step:** Adjust the `Step (points)` based on your asset. Use `50` or `100` for US Indices (US30, NAS100), `10` or `20` for Gold, and `0.0050` for major Forex pairs.
* **Dashboard Adjustments:** You can hide the dashboard, move it to any corner, and adjust its X/Y padding directly in the inputs!
Enjoy the indicator, Happy trading!
