Angled Volume Profiles for Measuring Volume Along a Price Trend
Summary
This indicator estimates volume distribution across price levels after adjusting for a line between a chosen starting point and an ending price. The user selects the start time and price, then sets the ending price; the chart’s last bar serves as the endpoint in time. For each bar from the start onward, the script assigns portions of bar volume to price bins shifted along the selected angle, then displays the resulting profile as lines whose lengths represent relative volume.
A step multiplier controls spacing between profile levels: smaller steps produce denser profiles, while larger steps produce fewer levels. The documentation offers no performance study or evidence that angled volume concentrations predict future price. It describes practical display constraints: TradingView limits line counts, so very dense profiles may lose lines, and overly coarse profiles may be uninformative. The indicator also does not automatically refresh when new bars arrive; moving an interactive endpoint is required to redraw it.
Key ideas
- The profile maps volume at price levels along a user-selected angled path.
- The user sets a starting time and price plus an ending price, while the latest bar is the time endpoint.
- Profile line spacing is controlled by a multiplier tied to the instrument’s minimum tick.
- Very dense profiles can exceed platform drawing limits, while coarse settings can hide useful detail.
- New bars do not trigger a full profile recalculation; moving an input refreshes the display.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.