Free TradingView Indicator by AlgoAlpha — Volume & Order Flow
Activity and Volume Orderflow Profile
Activity and Volume Orderflow Profile
Unlock the power of market order flow analysis with the Activity and Volume Orderflow Profile indicator by AlgoAlpha . This versatile tool helps you visualize and understand the dynamics of buying and selling pressure within a specified lookback period. Perfect for traders who want to dig deeper into volume-based market insights!
Choose between "Comparison" and "Net Order Flow" to analyze market activity based on your preferred method.
Customize the lookback period to fit your trading strategy.
Toggle the display of the profile, lookback period visualization, and heatmap to suit your preferences.
Set your preferred colors for up and down volumes.
Use the minimum transparency setting to highlight areas of significant activity.
Quick Guide to Using the Activity and Volume Orderflow Profile
Add the indicator to your favorites. Customize settings like profile type, lookback period, and resolution to fit your trading style.
Use the profile to identify areas of high buying or selling pressure. In "Comparison" mode, look for significant volume differences; in "Net Order Flow" mode, focus on net volume changes. Additionally, you can use the activity heatmap to find key levels that can act as support and resistance as price is likely to react to the zones as indicated by the heatmap.
The indicator operates by first gathering data on high and low prices, as well as buy and sell volumes, over a user-defined lookback period. It then calculates the maximum and minimum prices during this period and divides this range into bins based on the chosen resolution. For each bin, it computes the total volume of buy and sell orders. In "Comparison" mode, it displays side-by-side boxes representing buy and sell volumes, while in "Net Order Flow" mode, it shows the net volume difference. The indicator visually presents these profiles on the chart with customizable colors, transparency levels, and the option to display a heatmap for enhanced volume activity insights.
Maximize your trading with the Activity and Volume Orderflow Profile from AlgoAlpha!
Explore other volume & order flow TradingView indicators by AlgoAlpha.
Free on TradingView
Activity and Volume Orderflow Profile is free to use on TradingView. Add it to any chart in seconds.