Volume profile [Signals] - By Leviathan [Mindyourbuisness]

قبل ٥ ساعات

Market Sessions and Volume Profile with Sweep Signals - Based on Leviathan's Volume Profile

This indicator is an enhanced version of Leviathan's Volume Profile indicator, adding session-based value area analysis and sweep detection signals. It combines volume profile analysis with market structure concepts to identify potential reversal opportunities.

Features
- Session-based volume profiles (Daily, Weekly, Monthly, Quarterly, Yearly)
- Forex sessions support (Tokyo, London, New York)
- Value Area analysis with POC, VAH, and VAL levels
- Extended level visualization for the last completed session
- Sweep detection signals for key value area levels

Sweep Signals Explanation

The indicator detects two types of sweeps at VAH, VAL, and POC levels:

Bearish Sweeps (Red Triangle Down)
Conditions:
- Price makes a high above the level (VAH/VAL/POC)
- Closes below the level
- Closes below the previous candle's low
- Previous candle must be bullish

Trading Implication: Suggests a failed breakout and potential reversal to the downside. These sweeps often indicate stop-loss hunting above key levels followed by institutional selling.

Bullish Sweeps (Green Triangle Up)
Conditions:
- Price makes a low below the level (VAH/VAL/POC)
- Closes above the level
- Closes above the previous candle's high
- Previous candle must be bearish

Trading Implication: Suggests a failed breakdown and potential reversal to the upside. These sweeps often indicate stop-loss hunting below key levels followed by institutional buying.

Trading Guidelines
1. Use sweep signals in conjunction with the overall trend
2. Look for additional confirmation like:
- Volume surge during the sweep
- Price action patterns
- Support/resistance levels
3. Consider the session's volatility and time of day
4. More reliable signals often occur at VAH and VAL levels
5. POC sweeps might indicate stronger reversals due to their significance as fair value levels

Notes
- The indicator works best on higher timeframes (1H and above)
- Sweep signals are more reliable during active market hours
- Consider using multiple timeframe analysis for better confirmation
- Past performance is not indicative of future results

Credits: Original Volume Profile indicator by Leviathan