IdeaIndicator Volume HELP PLEASE

1
Question from newbies, which could help not only me but others too.
Thanks for your availability in case of answers.

I wish I could ask you for help on the indicator posted below

-What do you think is the best setting?

-Can I operate on a time interval H1?

Attached are the other things I didn't understand.

R.
Attachments
In this photo, what do the dotted blue and red lines refer to?<br /><br />What do the blue and yellow segments determine? In this photo, what do the dotted blue and red lines refer to?

What do the blue and yellow segments determine?
In this photo, does the white line correspond to the POC? In this photo, does the white line correspond to the POC?


Re: Indicator Volume HELP PLEASE

2
Rannanato wrote: Fri Mar 06, 2020 2:00 am Question from newbies, which could help not only me but others too.
Thanks for your availability in case of answers.

I wish I could ask you for help on the indicator posted below

-What do you think is the best setting?

-Can I operate on a time interval H1?

Attached are the other things I didn't understand.

R.
Hi, as with any indicator the 'best settings' are going to depend on the market and time frame you are using and what you are using the indicator for and only your backtesting can do that.

I don't still have those 2 indicators to hand but am pretty sure both have intraday time frame choices.
The colour coding for the lines you can set yourself from the input tab so play around to see what each one is (POC, median etc).
Essentially any market or volume profile indicator is trying to indicate areas on the chart where more than average trading was done or where price spent more time which equates to the same thing, these levels may act as supply and demand areas in the future.

Re: Indicator Volume HELP PLEASE

4
Rannanato wrote: Fri Mar 06, 2020 3:04 am Hi Ogee thanks for the reply. :)

I ask you how do I identify a POC, which rule or criterion can I use?

Would you know how to give me some advice?

this link viewtopic.php?f=579496&t=8473215&p=1295 ... 1295404994 (forex station) is the link where I found the indicators, maybe you can understand better
R.
Sure, the Point of Control is the highest volume node (amount) so it's the longest volume bar


Re: Indicator Volume HELP PLEASE

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Rannanato wrote: Sat Mar 07, 2020 12:35 am I have a question,

This is the setting of the '' Vp-v6 '' indicator

I'm trying to understand what the media color and mode color lines refer to (attached)

furthermore, is the '' maximum coloring '' the area where the most exchanges took place?


Can you help me?

R.
The Mode line is simply the max volume within the Mode Step amount set (100 points), if set to 20 there would be more black lines. The Max line is the level with the highest volume that day (or so far that day) and the median is just that, the median of frequency over the total period.

But you don't actually need any of the lines because they are just highlighting what the side-on volume bar graph is showing, you can see the max vol bar (green) occurred 8 - 9 am resulting in a large blue candle telling us that there was excess demand at the end of that auction, price moved higher so for future ref that level may be a strong level of support.
There was a second auction around 2-3 pm that gave the second longest vol bar (black) and that also ended with excess demand and price again moved higher.
The importance of volume and market profile is to highlight which levels are current support and resistance and possibly in the future as well.
Attachments

Re: Indicator Volume HELP PLEASE

8
Ogee wrote: Sat Mar 07, 2020 8:42 pm
The Mode line is simply the max volume within the Mode Step amount set (100 points), if set to 20 there would be more black lines. The Max line is the level with the highest volume that day (or so far that day) and the median is just that, the median of frequency over the total period.

But you don't actually need any of the lines because they are just highlighting what the side-on volume bar graph is showing, you can see the max vol bar (green) occurred 8 - 9 am resulting in a large blue candle telling us that there was excess demand at the end of that auction, price moved higher so for future ref that level may be a strong level of support.
There was a second auction around 2-3 pm that gave the second longest vol bar (black) and that also ended with excess demand and price again moved higher.
The importance of volume and market profile is to highlight which levels are current support and resistance and possibly in the future as well.
Hi

Use Tpo profile and volüme profile together. trade the gaps and poc to poc. Tpl is for spx500.
Have a nice weekend.


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