Linear Regression Volume Profile [ChartPrime]

LR VolumeProfile [ChartPrime]
This indicator combines a Linear Regression channel with a dynamic volume profile, giving traders a powerful way to visualize both directional price movement and volume concentration along the trend.

⯁ KEY FEATURES

• Linear Regression Channel: Draws a statistically fitted channel to track the market trend over a defined period.
  
• Volume Profile Overlay: Splits the channel into multiple horizontal levels and calculates volume traded within each level.
  
• Percentage-Based Labels: Displays each level's share of total volume as a percentage, offering a clean way to see high and low volume zones.
  
• Gradient Bars: Profile bars are colored using a gradient scale from yellow (low volume) to red (high volume), making it easy to identify key interest areas.
  
• Adjustable Profile Width and Resolution: Users can change the width of profile bars and spacing between levels.
  
• Channel Direction Indicator: An arrow inside a floating label shows the direction (up or down) of the current linear regression slope.
  
• Level Style Customization: Choose from solid, dashed, or dotted lines for visual preference.
  

⯁ HOW TO USE

• Use the Linear Regression channel to determine the dominant price trend direction.
  
• Analyze the volume bars to spot key levels where the majority of volume was traded—these act as potential support/resistance zones.
  
• Pay attention to the largest profile bars—these often mark zones of institutional interest or price consolidation.
  
• The arrow label helps quickly assess whether the trend is upward or downward.
  
• Combine this tool with price action or momentum indicators to build high-confidence trading setups.
  

⯁ CONCLUSION
LR Volume Profile [ChartPrime] is a precision tool for traders who want to merge trend analysis with volume insight. By integrating linear regression trendlines with a clean and readable volume distribution, this indicator helps traders find price levels that matter the most—backed by volume, trend, and structure. Whether you're spotting high-volume nodes or gauging directional flow, this toolkit elevates your decision-making process with clarity and depth.