Fibonacci Volume Profiles [AlgoAlpha]

21 jam yang lalu

Unlock a deeper understanding of price action with the Fibonacci Volume Profiles indicator by AlgoAlpha! This powerful tool blends Fibonacci retracement levels with customizable volume profiles, helping traders identify high-probability areas of support, resistance, and accumulation. Designed for both continuous dynamic levels and custom time periods, this indicator is a must-have for traders seeking confluence in market structure analysis.

🔑 Key Features

• 📈 Dual Mode Selection: Choose between Continuous Fibonacci levels, which adapt dynamically to pivots, or a Custom Period mode, where you set your own start and end points.
  
• 📊 Integrated Volume Profile: Visualize volume distributions at key Fibonacci retracement levels, revealing areas of strong buying/selling interest.
  
• 🎨 Customizable Colors & Transparency: Adjust Fibonacci level colors, fill zones, and profile transparency for a visually clear experience.
  
• 🔍 Profile Resolution & Scaling: Control the number of price levels and width of the volume profile for detailed market insights.
  
• 🛠 Extendable Levels: Optionally extend Fibonacci levels to the right of the chart for better visualization of future price interaction.
  

📌 How to Use

1. Add the Indicator: Click on the star icon to add it to your favorites and apply it to your TradingView chart.
   
2. Analyze The Market: Observe how price interacts with Fibonacci levels alongside the volume profile to confirm support/resistance zones. Switch between custom range or continuous mode to align the tool with your trading style.
   

⚙️ How It Works
The indicator calculates pivot highs/lows dynamically (or uses user-defined time periods) to plot Fibonacci retracement levels. It then builds a volume profile by analyzing historical volume data, grouping it into price bins to highlight volume-heavy zones. The Point of Control (PoC) is identified as the level with the highest traded volume, acting as a key price magnet. The color-coded Fibonacci levels help traders spot retracement zones, while the volume profile confirms strength or weakness in those areas.

21 jam yang lalu

Catatan Rilis

Added color inputs for the profile.