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Tuesday, July 23, 2013

Volume Profile Indicator for Ninjatrader

New Range Volume Profile Indicator for Ninjatrader

This new Volume Profile Tool allows to define the time window inside the Chart to calculate the Profile.
Even more, we can move the window and see the profile updating real time.

What is a Volume Profile ?

It is a histogram that shows the volume traded at each price taking into account a defined time window.
The prices where most volume is traded are zone that can be considered Support & Resistance.
In the other way, the prices with lowest volume traded are zones without traders interest.

On this example we can see a Volume Profile of Dow Jones taking into account the volume of the last 5 days :

On these charts we can see the profile of one day session and the effect of its peaks on the following session price action :

This can be applied to different markets...
like Crude Oil  :

...and different timeframes, like this one week profile to calculate levels to be used on next week :

Most of the Indicators allow to calculate daily profiles or composite ( from N days into the past ), but with this new Indicator ( TIS_Price_Volume_Range ) now it is possible to define any interval, real time, and even intraday ;

Look at this indicator working live on the following YouTube Video :
logo Pablo Maglio The Indicator Store 
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