Historic Volume/Market Profile is a Periodic Volume Profile with all of the improvements known in the original Volume/Market Profile. VMP is a 2 in 1 Volume and Market Profile Indicator. HVMP uses the base of VMP to offer a quick and simple view at multiple historic profiles at the same time. This includes:
Cluster Identification for High Volume and Low Volume Areas.
Maximizing granularity by utilizing boxes and lines to get up to 1000 rows.
New Inclusions in HVMP vs VMP:
HVMP granularity is determined by the # of profiles on display. By doing this, each profile will get an even amount of allocated rows to use and granularity is scaled per-profile, to fit within the row allowance. For Example: 1000/(# of profiles) = Maximum # of rows per profile.
HVMP introduces the "Auto-Scale" Option (on by Default), this automatically fits each profile within the defined timeframe period to provide a consistent display when switching timeframes. Even with "Auto-Scale" enabled, "Display Size" dictates which direction the profile is displayed.
Below is a Negative Display Size (Displays from right to left, starting at the end of the period) Below is a Positive Display Size (Displays from left to right, starting at the beginning of the period)
HVMP is only for historical data, you can get a live profile with the same Node Identification using VMP (Volume Market/Profile). The indicator that this one is based on. Find it Here: Volume/Market Profile
This is a FANTASTIC script, thank you Sam!! Are you planning on re-working this version, similar to your other version? If so, would it be possible to add an "offset" feature, where based on a bool input, you may shift the profile by a session (e.g. show yesterday's profile on today's bars and show today's profile on "tomorrow's" future/empty space to the right)? Another feature req would be to optionally break out the profile into pre/cash/post sessions, but unsure how complicated that would get. Anyways, thanks again.
jrrr29
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Any plans to add custom time sessions or is that something that isn’t possible?
jrrr29
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Literally been asking for something like this similar to what’s on sierra. Fantastic work!
Ram_naresh
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@jrrr29, How to trade with above high volume and low volume?
jrrr29
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@Ram_naresh, high volume shows where loads of transactions were being placed. Typically it would be accumulation and it’s where positions were being placed for next move up or down. I use them as exits and entries in confluence with other profiles. Then with low volume I use as Support and resistance.
Ram_naresh
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@jrrr29, Thanks for guide. Today i have tried using this indicator with Order block incident, Somehow worked nice. Do you have any other indicator to use with this indicator?
starstudded
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@Ram_naresh, try relative volume to find orderblocks within high volume nodes before moves that made liquidity gaps form and watch how price reacts on retest