Session Volume Profiles with POC and Value Area Levels
Summary
This TradingView indicator builds volume profiles for configurable market sessions and calendar periods, including Tokyo, London, New York, daily, weekly, and longer intervals. It divides each period’s price range into bins, allocates lower-timeframe volume across those bins, and displays the profile with point of control (POC), value area high and low (VAH/VAL), and session boundaries. Users can choose a profile resolution, value-area percentage, and display style.
The script also offers an open-interest mode based on changes in open interest, optional volume smoothing, and forex session boxes without profiles. Its source describes how the profile is calculated and rendered, but supplies no trading rules, performance results, or evidence that these levels predict price behavior. Volume allocation across price bins is an estimate derived from intrabar OHLC data, and the displayed detail depends on the chosen resolution and available lower-timeframe data.
Key ideas
- The indicator can segment profiles by major forex sessions or by calendar periods.
- It distributes lower-timeframe volume across price bins to construct each profile.
- POC marks the bin with the most allocated activity, while VAH and VAL bracket a configurable share of the profile.
- An optional mode profiles changes in open interest instead of traded volume.
- The script is a visualization tool and provides no tested entry or exit strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.