VolumeHeatmap | Experimental Version of Marketorders Matrix

7 Jan 2021

Dear all,

I wish a Happy New Year!

The last time I tried to developing a Volume Heatmap, that the Marketorders made.

With the currently version I achieve my skills for that and I present it for everyone - some bugs I cannot solve today.

It also possible to see the POC - also the dynamic of volume developing:





The background for that is to find the pricelevel with the most volume - this is for valuetrading always the target.

If someone find it useful or have question - let me know!

Kind regards

NXT2017

20 Jan 2021

Catatan Rilis

Update of the Heatmap

• Change the color printing to thermal falsecolor (high volume are red and low volume are blue/green and the transparency goes from 50% to 100% to avoid overlapping the candles)
  
• Remove automatic length and High/Low (it's really necessary to choose manuelle high and low price)
  
• Now you can manage the visible of boxes
  

How it works:
This indicator plots the maximum allowed lines of 31 that an indicator on TradingView has. For more lines, you need to copy the indicator to the same chart and change the box ID.

This script calculates the volume for every price of past candles that you have to choose on "count bars back". Then the sum of every price is divided through the maximum volume a price level has in this range that was cumulated on the last bars.

How it helps
If you ask how you can use it - I really testing it at now... but I have found is fantastic. You can find the pricelevel that are really nice resistance / support levels. Look here on this examples:

30 Okt 2022

Catatan Rilis

*some bugs solved