What is volume profile chart?
Volume profile is a charting feature (or indicator) that shows the traded volume amount of an asset, over a specified period at certain price levels. Volume profile shows this data as a histogram in a Y-axis (vertical) next to price levels.
How do you read a volume profile indicator?
Determine the total volume traded in the profile (total buys and sells). Take the number of total buys and sells and multiply it by . 7 to determine what number is 70 percent of the total buys and sells. (70% is a typical example however any percentage can be used by the trader).
What does a volume profile show?
Volume Profile is an advanced charting study and indicator. It shows the traded volume amount of an asset over a specified period, at certain price levels. Volume Profile makes use of previous traded volume and all the strategies and plans are brought from historical data.
Which is better market profile or volume profile?
Volume Profile vs Market Profile While Market Profile indicates how long price traded at each level, Volume Profile shows how much volume was traded there. Since it’s volume – buying & selling – and not time that moves markets, Volume Profile is considered more of a “true” technical analysis study by many traders.
How do I get a free volume profile?
For those interested in free Volume Profile & Market Profile charts, visit Gocharting.Com . Its free to use and has both Market Profile and Volume Profile. Will look into it. Underlying indicator is the same but.
Which time frame is best for Volume Profile?
The Volume Profile is a very powerful tool that can adapt to each time frame. No matter if you want to do short-term or long-term trades you can attach the tool to each timeframe. From our experience, the best time horizon for day trading is daily. For scalping, you can use the hour profile or 4-hour profile.
Do Professional Traders Use Volume profile?
A professional trader looks at the volume profile and realizes the stock is far away from the current “value area” (VA). Thus, they will put a limit order down near the $410.50 area, to pick up the long position near the top of the value area high (VAH).
Do Professional Traders Use Volume Profile?
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