Typically, market profile can be used to help determine high value areas where a likely reaction is to occur when price reaches this level, this can provide market generated . This indicator uses time price interaction to accurately create a market profile for TradingView, a feature that is useful for many traders who want to expand their knowledge.
User can choose to enable or disable lettering, and further features such as tick size and color are customizable.
Soon I will include additional features such as point of control extending the area of interest.
Currently works in non overlay mode, apply to existing panel to make it easier to chart lines.
Further more an overlay version is in the works
Looking forward to everyone trying this, you can appropriately message me for access.
How to use it:
-Change Tick Size to control the generation of the market profile, e.g. 0.1 on smaller alts like Link works well, but 100 works great on BTC due to higher pricing
-Timeframe on chart controls the generation of data (daily market profile), lowest timeframe is 30 minutes. E.g. 4h chart will have a different market profile due to less 4h bars in a day, different timeframe modes will be added e.g. 5min for a 4h market profile for scalpers vs 30 minute for a daily market profile. may include a weekly market profile for 4h timeframe and above soon too.
-Lettering to indicate what time price was at those levels, A = 1:00-1:30am, B = 1:30-2:00am, C = 2:00-2:30am UTC. (lower case come after Z)
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact spacemanbtc for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
DM Here or on twitter: @Spacemanbtc
Warning: please read before requesting access.
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