Visualizing Bullish and Bearish Price-Volume Depth in the Visible Chart Range
Summary
This indicator builds separate price-volume profiles from bullish and bearish candles in the chart’s currently visible range. It sorts the closing prices for each group, then plots cumulative volume as opposing shapes extending from the left and right sides of the chart. Greater horizontal displacement represents a larger share of the group’s volume. It also marks the price with the highest associated volume in each group and can show bullish and bearish volume shares in percentage boxes.
The shapes can help locate prices where volume clustered, sparse areas between observed prices, and zones associated with concentrated trading. The description suggests interpreting those regions as possible support or resistance and reading steep profile sections as periods of changing conditions, but it supplies no empirical validation that these levels predict future price action. Since the indicator recalculates from the visible chart range, changing that range changes the profile. Its bullish and bearish categories are based on candle direction, so they are not order-book depth or direct measurements of resting liquidity.
Key ideas
- The indicator separates visible-range candle volume by whether each candle closed up or down.
- Sorted closing prices are plotted as cumulative profiles, with horizontal displacement proportional to volume share.
- It highlights each group’s highest-volume price and can display the groups’ relative volume percentages.
- Profile clusters and gaps may suggest areas for further analysis, but the document provides no predictive evidence.
- Changing the chart’s visible range recalculates the displayed profile.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.