In this time pinescript version 4 was the newest one and I worked the first time with arrays.
Today we have pinescript version 5 and some new features. This is why I tried again with matrix function and the results are better than I expected.
HOW IT WORKS
The indicator calculates similar like the volume profile. It looks back and every volume where the close price is on the same row area, the volume will cumulated. How much rows the new chart view is showing, you can choose manually.
The mind behind this is to find high volume levels, where high volume catch the price in a range or get function as support/resistance line.
PICTURES
I hope it helps for your trading. You are welcome to give some comments.
I'm always looking for new tools in this sense, this is practically everything to make a profit, thank you
mb071
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Why is the previous version not working anymore?
NXT2017
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@mb071, I don't know. Some bugs and of course the update of pinescript could bite the old version. Moreover, the min and max area were always to set manually and the plot lines are limited. This new script havn't any technical limitations
mb071
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@NXT2017, In the new version, if it was placed on the candles, it would be better like the previous version
NXT2017
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@mb071, in the old version the issue is the plot limitation... I mean only 30 plot lines are available and the calculation is by far higher than this solution with the separat chart.