Session Volume Profile Levels for POC, Value Area, and Range
Summary
This indicator calculates and plots six session reference levels: point of control, value-area high and low, and session high, low, and midpoint. It defines value area as the price range containing 70% of session volume and presents the POC as the most traded price. Users can select regular trading hours, Globex, or a full session, choose how many recent periods to display, and toggle level lines, out-of-session shading, and line extension.
The author describes its intended use for day and swing trading in stocks and futures, with an initial focus on regular-hours S&P futures sessions. A key limitation is that volume is assigned using the current chart resolution rather than lower-timeframe data, and plotting is restricted to minute charts at 1, 2, 3, 5, 10, 15, or 30 minutes. The document explains indicator construction and settings, not a trading strategy or evidence that these levels predict price behavior. Session selection and resolution affect the resulting profile and should be considered when interpreting levels.
Key ideas
- The indicator plots session POC, value-area boundaries, and high, low, and midpoint levels.
- Its value area represents 70% of session volume, with POC marking the highest-volume price level.
- Users can select regular, Globex, or full sessions and choose how many recent periods to show.
- The calculation uses volume from the chart’s current resolution rather than lower-timeframe data.
- It is limited to specified minute-chart intervals and provides reference levels without performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.