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Date/Time: Fri, 19 Jul 2024 18:21:33 +0000

Post From: Setting up Volume Profile with Value Area per Candle

[2023-03-04 12:29:14]
mk53v3n - Posts: 71
Hi, I want to set-up a specific kind of chart and would appreciate some help with this please:

What I try to set-up is a 15 minute candlestick chart that displays a volume profile including POC and value area for each 15 min candle.

I tried two different approaches so far but none of them was satisfying:

(i) I set up a simple 15 min candlestick chart, added a Volume by Price study, set the Volume Graph Period Type for the VbP study to "Multiple Profiles Based on Fixed Time" and set the Time Period to 15 minutes. This displays a nice volume profile for each candle, and I can easily highlight value area and POC, BUT the volume profile is either partly hidden by the candles (if the option "Draw Study Underneath Main Price Graph" is enabled) or the candles are party hidden by the volume profiles (if the corresponding option is disabled). I was so far unable to place the volume profiles right next to the candles (they are always rendered at the center of the candles).

(ii) My second approach was to use a Numbers Bars study. But since I cannot simply give the horizontal volume bars that make up the value area of each candle a different color (at least I think that's not possible, right?), I added a "Volume Value Area for Bars" study to create an overlay for the value area per bar. However, I cannot find a setting that produces a nice look here, because rather than coloring the value area it produces additional visual clues/marker that I simply find distracting.

Is it somehow possible to either (i) place the VbP study next to each candle (instead of rendering it on top of them) or (ii) somehow color the value area within the Numbers Bars study in a different color?

Or are there any other valid approaches to create such a chart that I am currently overlooking?

Any assistance with this would greatly be appreciated.