How To Get VPVR on TradingView – A Complete GuideVolume Profile!
What is Volume Profile and How is it Useful?Volume Profile illustrates the amount of trading volume occurring at different price levels over a defined period. This allows traders to visualize areas where significant trading activity is happening. High volume areas often become support and resistance zones. Key benefits of using Volume Profile analysis include:
- Identifying key support and resistance levels to watch
- Seeing emerging supply/demand imbalances early
- Gauging conviction behind price movements
- Understanding value relative to volume nodes
- Visualizing developing trading ranges and channels
Introducing the Visual Volume Profile (VPVR) IndicatorTo bring Volume Profile to TradingView charts, we can use the Visual Volume Profile (VPVR) indicator developed by CoinCheetah. This flexible indicator plots volume nodes overlaid on price, with more active volume zones visually popping out. We can customize timeframes, tweak nodeappearance, and more using VPVR settings. Now let’s walk through adding this powerful indicator to your TradingView charts.
Step-by-Step Guide to Enabling VPVR on TradingViewFollow these simple steps to get VPVR on your TradingView charts:
- In Chart settings, go to the Indicators & Strategies tab
- Search “VPVR” and select “Visual Volume Profile” by CoinCheetah
- Click “Add to Chart” to add VPVR to your active chart
- By default it captures all available historical data. Adjust date range as desired.
Customizing and Configuring VPVR Indicator SettingsVPVR offers flexibility:
- Adjust volume zone opacity, coloring, and style to your preferences
- Change max bars back to increase/decrease historical data captured
- Modify density and clustering parameters for smoother profiles
- View multiple VPVR instances on one chart for different periods
Analyzing Markets Using Volume ProfileWith Volume Profile set up, how do we actually use it for trade analysis?
- Look for price reversing near high volume nodes – useful support/resistance
- Watch for expansion above or below major volume areas – breakouts
- See if price is trending toward zones with little/no volume – potential for continuation
- Observe volume tails pointing upward or downward – signs of buyers/sellers entering
Using VPVR for Indexes, Stocks, Forex, Crypto, and MoreThe Volume Profile indicator can be applied to any symbol:
- Indexes like S&P 500 – See where institutions are active
- Stocks – Identify key intraday support/resistance levels
- Forex – Highlight zones of high liquidity and trading interest
- Crypto – Gauge positions traders are accumulating or distributing
- Futures – Visualize developing valuations and fair price
Limitations of VPVR on TradingViewThe VPVR indicator provides excellent basic volume analysis but has some limitations:
- Only displays historical data, not real-time updating volume
- Requires sufficient bars of historical data for quality profiles
- Can be cluttered on intraday lower timeframes
- Lacks footprint chart visuals showing exact trade sequences
Can Increasing the Size of Candles on TradingView Affect Getting VPVR?
Increasing the size of candles on TradingView, also known as making candles larger on tradingview, can potentially impact the accuracy of the Volume Profile Visible Range (VPVR). By enlarging candles, traders may experience a distortion in the volume distribution, making it difficult to accurately assess support and resistance levels. Therefore, it is crucial to consider the potential consequences before altering the candle size on TradingView.
Tips for Adding Value with Volume ProfileHere are some tips for getting the most from Volume Profile:
- Use it to visually confirmtechnical indicator signals like support/resistance
- Combine with price action context – don’t treat zones as absolutes
- Focus Volume Profile analysis on longer timeframes for quality signals
- Reference historical profiles to see development over time
- Use the visuals to form trade bias, not definitive directional signals