Liquidity and Buy–Sell Sentiment Profiles by Price Level

Summary

This TradingView indicator builds profiles for an anchored period, dividing its price range into rows and estimating how much activity occurred at each level. It distributes each chart bar’s volume across the rows touched by that bar, in proportion to the overlap between the bar’s range and each row. The anchor can follow an automatic timeframe rule or be set to a session, day, week, month, quarter, or year. The script distinguishes regular sessions from full days when extended-hours data is available.

One profile marks activity as high, average, or low relative to the period’s busiest row. A second estimates directional sentiment by classifying up-close bar volume as buying activity and deriving selling activity from total volume minus that amount. Optional features show the busiest price level, period high and low, and the profile’s range. These are visual summaries, not order-book measurements: volume is allocated from bar ranges, and the bullish/bearish split uses bar direction. The document provides no performance tests or evidence that the displayed levels predict future prices.

Key ideas

• The indicator divides an anchored period’s high-to-low range into price rows and allocates bar volume across the rows each bar spans.
• Activity rows are classified as high, average, or low relative to the most active row in the profile.
• Directional sentiment is estimated from volume on bars that close above their open, with remaining activity treated as selling.
• The anchor period can be selected directly or chosen automatically from the chart timeframe.
• Optional displays mark the busiest price row, period boundaries, and profile high and low.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.