OPEN-SOURCE SCRIPT

Fixed Range Volume Profile

298
"Distribution of transaction volume by price group (transaction volume by price block)"

Instructions for use (Professional Manual)
1. a basic concept

By vertical axis (price), shows the cumulative trading volume traded in the segment.

The longer the block, the more transactions took place in that price range.

Colors distinguish between buying/selling strength (green = buying advantage, red = selling advantage).

2. Key components

POC (Point of Control)
→ Longest block (most traded price segment, "key selling point").

VAH / VAL (Value Area High/Low)
→ Top/bottom segments where approximately 70% of the total volume is formed.
→ Role of "Major Support/Resistance".

High Capacity Node (HVN)
→ Significantly higher trading volumes → strong support/resistance.

Low Volume Node (LVN)
→ Low volume section → areas where prices are easily passed.

3. practical application

Find Support/Resistance

The thickest block (POC) is used as a place where prices often rebound/resist.

a trading entry/liquidation strategy

Buy if the price is supported near HVN,

When breaking through the LVN, fast movement (gap movement) can be expected.

break/goal setting

Finger = Under the LVN,

Target = Next HVN.

Judgment of trends

When the block distribution is concentrated above, "Increase to Collection Section"

If you're driven below, you're "in a downtrend to a variance section."

4. Precautions

The volume distribution is "past data based" and is not an indicator of the future.

Rather than using it alone, it is more effective to combine with Fibonacci, trend lines, and candle patterns.

In particular, in the volatile market, the LVN breakthrough → may signal a surge/fall.

In summary, this block indicator is "a map showing the most market participants at any price point".
In other words, it is useful for finding support/resistance as a tool for analyzing sales and establishing the basis for trading strategies.

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