Volume profile histograms scaled across a day

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davidskalak
Last seen: 2 years 4 months ago
Joined: 02/07/2012 - 00:00
Volume profile histograms scaled across a day

So when volume profile histograms are displayed for each intraday bar (let's say 30-min bars) , the maximum width of the histogram is the same for each 30-min bar. All the histograms are the same width regardless of the amount of volume in each 30-min period. So I can't tell from the histograms if the volume was large or small during that period. So I wonder if there's a way to scale the volume histograms across the entire day so that I can compare the relative volume profile sizes for each 30-min bar? (Of course, the scaling may change during the current day, since scaling could only be done with respect to the volume up to the current time.)

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cpayne
Last seen: 1 year 8 months ago
Joined: 03/30/2009 - 00:00
Proportional Bar Profiles - Volume Candles

There are a few ways to approach this, but I would suggest taking a look at the VolumeCandles indicator for starters.  (VolumeScope is even a better option).  Lots of flexibility with respect to how the profiles are scaled.  In the image below, I've chosen to scale to max of "Visible" which means all visible bars will be taking into consideration for the scaling of the profiles.  Another key setting is the "Lower Contrast".  Experiment with that to give the lower volume prices more or less ink/width.  Here is the chart definition: https://www.linnsoft.com/charts/profilesproportional-es