Trailing Peak Activity Level [LuxAlgo]

The Trailing Peak Activity Level indicator tracks the price level associated with the highest volume during the current trading session, updating dynamically when price displacement exceeds a volatility-based threshold. This tool helps traders identify significant high-volume nodes that act as trailing points of interest or potential support and resistance throughout the trading day.

🔶 USAGE

The indicator identifies the "Peak Activity Level" by monitoring the bar with the highest volume in the current session. Unlike a static Volume Profile, this indicator treats the peak activity level as a trailing anchor that updates based on price movement and volume intensity.

🔹 Directional Shifts

When the peak activity level moves, the script provides visual cues to identify the direction and magnitude of the shift:

• A Green dotted vertical line appears when the peak activity level shifts upward.
  
• A Red dotted vertical line appears when the peak activity level shifts downward.
  

🔹 Sensitivity and Volatility

The indicator uses an ATR (Average True Range) multiplier to determine how much the price must deviate from the current level before a new peak can be established. This prevents the level from flickering or shifting during periods of low volatility or insignificantly small price changes.

🔶 DETAILS

The script logic follows a session-based reset. At the start of each new trading day, the volume tracker resets, and the initial peak level is established at the session's opening price.

As the session progresses, the script compares the current volume to the session's maximum volume. If a new volume peak is reached and the price has moved beyond the "Sensitivity" threshold (ATR x Multiplier), the indicator updates the horizontal level to the current price.

An integrated dashboard provides a real-time summary of the session's data:

• Peak Level: The current price coordinate of the high-volume node.
  
• Max Volume: The highest volume value recorded in a single bar during the session.
  

🔶 SETTINGS

The settings are organized into three primary groups to allow for easy customization of both logic and appearance.

🔹 Settings

• Sensitivity: The ATR multiplier used to determine the minimum price displacement required to establish a new peak activity level.
  
• ATR Length: The lookback period used for the Average True Range calculation.
  

🔹 Dashboard

• Dashboard: Toggles the visibility of the on-screen information table.
  
• Position: Determines where the dashboard is located (Top Right, Bottom Right, or Bottom Left).
  
• Size: Adjusts the scale of the dashboard text and cells.