How to Use Volume Profile in TradingView: Boost Your Trading Skills & Success

Overview of TradingView

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TradingView is a cloud-based financial charting and analysis platform that provides a range of tools and features for traders at all levels.

It offers advanced charting capabilities, real-time data, and a variety of customization options to help users analyze and trade stocks, options, forex, and other financial instruments.

TradingView is popular among traders because it allows them to create and share trade setups, track market trends, and identify potential buy and sell opportunities.

It also offers a community of users who share ideas, insights, and strategies, which can be helpful for traders looking to improve their skills and knowledge.

Click here to try TradingView for free!

Features and benefits of using TradingView for trading

TradingView provides a wide range of features and benefits for traders. Some of the salient features include:

• Advanced charting: TradingView offers a wide range of chart types, including candlestick, bar, line, and area charts, as well as technical indicators, overlays, and custom studies. You can use these tools to analyze market trends, identify trade setups, and measure the effectiveness of your trading strategies.
• Real-time data: TradingView provides real-time data for a variety of financial instruments, including stocks, options, futures, forex, and cryptocurrencies. You can use this data to track market movements, get alerts for potential trade setups, and make more informed trading decisions.
• Customization options: TradingView allows you to customize your charts in a variety of ways, including changing the chart type, adding technical indicators and overlays, and adjusting the color and appearance of the chart. You can also create custom studies and alerts based on past activity or specific price levels.
• Historical candles: TradingView provides access to historical data, which you can use to analyze market trends and conditions. You can view historical candles in different timeframes, such as daily, weekly, or monthly, and use the period multiplier feature to view data in higher or lower timeframes.

TradingView is a powerful and user-friendly platform that offers a range of tools and features to help traders analyze and trade financial instruments. Whether you’re a beginner or an experienced trader, you can benefit from using TradingView to improve your skills and results.

How to access volume profile in TradingView

Ready to use the volume profile in TradingView? Here’s how to get started:

1. Open a chart for the financial instrument you want to analyze. This could be a stock, option, futures contract, forex pair, or anything else you trade.
2. Click on the “Indicators” tab at the bottom of the chart. This will bring up a list of all the technical indicators you can add to your chart.
3. Scroll down to the “Volume” section and click on the “Volume Profile” indicator. This will open the settings window where you can customize the way they display volume profile on your chart.
4. In the settings window, you can choose the time you want to analyze (e.g., 1 day, 1 week, 1 month), and select the chart type (e.g., candlestick, bar, line). You can also adjust the color and appearance of the volume profile chart to your liking.
5. Once you’re happy with your settings, click “Apply” to add the indicator to your chart. Ta-day! You should now see the volume profile chart displayed on your chart.

Tips for customizing the volume profile display

Want to make volume profile work even harder for you? Here are a few tips to help you customize the display:

• Choose the right time period: The time you choose for your volume profile chart can make a big difference in the information you see. For example, a shorter time period (e.g., 1 day) might show more detail and allow you to see emerging trends more quickly, while a longer time period (e.g., 1 month) might provide a broader view of market activity.
• Use the second coordinate: The second coordinate feature lets you plot the volume profile chart on a different scale than the main chart. This can be really helpful if you want to see the volume profile chart in more detail or compare it to other indicators.
• Add advanced charting studies: You can use advanced charting studies to analyze the volume profile chart in more depth. For example, you can add a study that shows the buy volume and sell volume separately, or use a study to identify key price levels or areas of high or low volume.

By following these steps and tips, you can customize the volume profile display in TradingView to suit your needs and get the most out of this powerful analysis tool. Happy trading!

Interpreting volume profile in TradingView

This is from my Epic Swing level PRO indicator, That shows VAH,VAL,POC and the price Selling or buying pressure

• I composed the volume profile chart in TradingView of several key elements that can help you analyze market activity and make more informed trading decisions. These elements include:
  • Value area: The value area is the range of price levels where most trading volume occurred during the specified time period. A shaded area on the chart represents it. The top of the value area represents the chief point of the range, and the bottom represents the low point.
  • Point of control: The point of control (POC) is the price level where the most trading volume occurred during the specified time period. A vertical line represents it on the chart. I often considered the POC a key support or resistance level, as it shows where the most trading activity occurred and may be a key factor in future price movements.
  • Buy and sell volume: The volume profile chart also shows the buy volume and sell volume separately, which can be helpful in understanding market sentiment and identifying potential trade setups. The buy volume is represented by a green area on the chart, and a red area represents the sell volume.
  • Emerging candles: Emerging candles are new price candles that appear on the chart as the market

Advanced features of volume profile in TradingView

• Options for analyzing historical volume data

  TradingView’s volume profile feature includes several advanced options for analyzing historical volume data. These options include:

  • Period multiplier: The period multiplier allows you to adjust the time over which the volume profile is calculated. For example, you can set the period multiplier to “2” to double the time and get a wider view of market activity.
  • Custom time frames: You can also customize the time frame of the volume profile chart to suit your needs. This can be helpful if you want to compare the volume profile over different time periods or to align it with other chart analysis tools.
  • Historical candles: The volume profile chart can display historical candles, which can be useful for analyzing volume data over longer time periods. You can choose the time frame and type of candles (e.g., daily, weekly, monthly) that you want to display.

• Techniques for comparing volume profile across different symbols or timeframes

  Another advanced feature of TradingView’s volume profile is the ability to compare the volume profile of different symbols or timeframes. This can be helpful for identifying trends or patterns that may not be apparent on a single chart. Here are some techniques for comparing volume profile across different symbols or timeframes:

  • Overlay charts: You can overlay the volume profile charts of two or more symbols to compare their volume data. This can be useful for identifying correlations or divergences in volume activity.
  • Use multiple charts: You can also use multiple charts to compare the volume profile of different symbols or timeframes side-by-side. This can be helpful for getting a broader view of market activity and identifying trends or patterns that may not be apparent on a single chart.

  By using these techniques, you can gain a deeper understanding of market conditions and make more informed trading decisions.

Conclusion

In conclusion, the volume profile is an essential tool for any trader using TradingView. By enabling the volume profile on your chart and customizing it to fit your specific trading needs, you can gain a deeper understanding of market conditions and make more informed trading decisions. Whether you’re a beginner or an experienced trader, the volume profile can help you improve your trading skills and achieve your financial goals.

Besides the volume profile, TradingView offers a range of advanced charting studies and tools that can help you analyze market conditions and develop your trading strategy. By experimenting with these features and finding the right tools and settings to fit your specific needs and goals, you can create a customized trading workflow that helps you achieve your trading objectives.

Overall, the volume profile is just one of many powerful tools available on TradingView, and by taking the time to learn how to use it effectively, you can improve your trading results and achieve your financial goals. Whether you’re looking to day trade or hold positions for the long-term, the volume profile is an invaluable tool that can help you succeed in the markets.