Swing Volume Profiles with Point of Control and Volume Delta

Summary

This indicator identifies swing highs and lows over a configurable lookback and builds a volume profile for each completed swing leg. It divides the leg's price range into bins sized using average true range, then assigns each candle's volume to a bin near its closing price. Candle direction is used to separate estimated buying and selling volume. The profile can be shown as a volume shape or heat map, with the highest-volume bin marked as the point of control.

For each swing, labels report total, buy, sell, and delta volume; a similar profile is refreshed as the current swing develops. A zigzag connector can show the swing structure, and a moving average can be added. These are visual summaries based on candle-level volume allocation, not exchange trade-side data. The document reports no predictive tests or trading results, so the displayed concentrations and directional estimates should be treated as descriptive indicators rather than validated signals.

Key ideas

• Swing direction changes are detected using recent highs and lows over a configurable lookback.
• Volume is allocated to price bins according to how close each bin is to a candle's closing price.
• Up candles contribute to estimated buy volume, while other candles contribute to estimated sell volume.
• The point of control marks the bin with the greatest accumulated volume in a swing leg.
• The reported buy-sell delta is an estimate from candle direction, not direct aggressor-side trade data.

Tags

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