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Direct MessagesDate/Time: Fri, 19 Apr 2024 19:06:17 +0000
Setting up Volume Profile with Value Area per Candle
View Count: 809
| [2023-03-04 12:29:14] |
| mk53v3n - Posts: 64 |
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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. |
| [2023-03-04 14:59:40] |
| Rui S - Posts: 175 |
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mk53v3n, Just two suggestions that are not perfect but might help: 1- In that chart, go to Chart / Graphics Settings / Tab "Other. Then reduce the "Candlestick Width %" to a inferior value at your choice. It will reduce the width of the candlesticks and allow more room for the Vbp. To improve the outcome, you can also set the Candlesticks Outline to black. 2- It might not be exactly what you want, but instead of using candlesticks you could use thin OHLC bars instead. If you decide to try it out, you can adjust the width of the bars the same way as described above. Good luck. |
| [2023-03-06 16:41:10] |
| John - SC Support - Posts: 30973 |
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The only other option would be to set the Input for the VbP for Use Transparent Draw Style and set a Transparency Level as you want. Just be aware that transparency drawing uses a lot of resources, so you will see a sluggish response when doing this. Refer to the following: Volume By Price Study: Use Transparent Draw Style For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-03-07 08:08:37] |
| mk53v3n - Posts: 64 |
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Thank you both for the quick replies and suggestions! I will gladly try all three suggested approaches and see what works best.
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