All available Free MAX SLI versions are listed below (They are very similar and I don't want to publish them as separate indicators):
ver 1.0: style columns implementation
ver 2.0: style histogram implementation
ver 3.0: style line implementation
This indicator calculates for a given range and shows it as a histogram consisting of 50 horizontal bars.
It can also show Point of Control ( ), Developing , Value Area/ StdDev High/Low as dynamically moving levels.
Free accounts can't access Standard TradingView , hence this indicator.
There are several versions: Free Pro, Free MAX SLI, Free History. This is the Free MAX SLI version. The Differences are listed below:
- Free Pro: 25 levels, +Developing , Value Area/ High/Low Levels, Above/Below Area Dimming
- Free MAX SLI: 50 levels, packed to the limit, 2x SLI modes for Buy/Sell or even higher res 150 levels
- Free History: auto highest/lowest, historic /va levels for each session
- High-Res with up to 50 levels (3 implementations)
- 20-30x faster than the old Pro versions especially on lower tfs with long history
- 2x SLI modes for even higher res: 150 levels with 3x vertical SLI, 50 buy/sell levels with 2x horiz SLI
- Calculate on full history
- , Developing Levels
- Buy/Sell/Total modes
- Side Cover
- Value Area, VAH / VAL dynamic levels
- High/Low dynamic levels with Source, Length, StdDev as params
- Show/Hide all levels
- Dim Non Value Area Zones
- Custom Range with Highlighting
- 3 Anchor points for
- Flip Levels Horizontally
- Adjustable width, offset and spacing of levels
- Custom Color for /VA/ levels and Transparency for buy/sell levels
- specify max_level/min_level/spacing (required)
- select range (start_bar, range length), confirm with range highlighting
- select type: Buy/Sell/Total
- select mode Value Area/ to show corresponding levels
- flip/select anchor point to position the buy/sell levels
- use Horiz SLI mode for 50 Buy/Sell or Vertical SLI for 150 levels if needed
- use /Developing /VA/ High/Low as S/R levels. Usually daily values from 1-3 days back are used as levels for the current day.
- use SLI modes to extend the functionality of the indicator:
- Horiz Buy/Sell 2x SLI lets you view 50 Buy/Sell Levels at the same time
- Vertical Max_Vol 3x SLI lets you increase the resolution to 150 levels
- you need at least 2 instances of the indicator attached to the same chart for SLI to work
1) Enable Horiz SLI:
- attach 2 indicator instances to the chart
- make sure all instances have the same min_level/max_level/range/spacing settings
- select type for each instance: you can have a buy/sell or buy/total or sell/total SLI. Make sure your buy instance is the last attached to be displayed on top of sell/total instances without overlapping.
- set buy_sell_sli_mode to true for indicator instances with volume_type = buy/sell, for type total this is optional.
- this basically tells the script to calculate % lengths based on total instead of individual buy/sell volumes and use ext offset for sell levels
- Sell Offset is calculated relative to Buy Offset to stack/extend sell after buy. Buy Offset = Zero - Buy Length. Sell Offset = Buy Offset - Sell Length = Zero - Buy Length - Sell Length
- there are no master/slave instances in this mode, all indicators are equal, /va levels are not affected and can work independently, i.e. one instance can show va levels, another - .
2) Enable Vertical SLI:
- attach the first instance and evaluate the full range to roughly determine where is the highest max_vol/ level i.e. 0..20000, is in the bottom half (third, middle etc) or
- add more instances and split the full vertical range between them, i.e. set min_level/max_level of each corresponding instance to 0..10000, 10000..20000 etc
- make sure all instances have the same range/spacing settings
- an instance with a subrange containing the level of the full range is now your master instance (bottom half). All other instances are slaves, their levels will be calculated based on the max_vol/ of the master instance instead of local values
- set show_max_vol_sli to true for the master instance. for slave instances this is optional and can be used to check if master/slave max_vol values match and slave can read the master's value. This simply plots the max_vol value
- you can also attach all instances and set show_max_vol_sli to true in all of them - the instance with the largest max_vol should become the master
Auto/Manual Ext Max_Vol Modes:
- for auto vertical max_vol SLI mode set max_vol_sli_src in all slave instances to the max_vol of the master indicator: "VolumeProfileFree_MAX_RRB: Max for Vertical SLI Mode". It can be tricky with 2+ instances
- in case auto SLI mode doesn't work - assign max_vol_sli_ext in all slave instances the max_vol value of the master indicator manually and repeat on each change
- manual override max_vol_sli_ext has higher priority than auto max_vol_sli_src when both values are assigned, when they are 0 and close respectively - SLI is disabled
- master/slave max_vol values must match on each bar at all times to maintain proper level scale, otherwise slave's levels will look larger than they should relative to the master's levels.
- Max_vol (red) is the last param in the long list of indicator outputs
- the only true max_vol/ in this SLI mode is the master's max_vol/ . All /va levels in slaves will be irrelevant and are disabled automatically. Slaves can only show levels.
- VA Levels of the master instance in this SLI mode are calculated based on the subrange, not the whole range. Cross check with the full range.
- auto mode max_vol_sli_src is experimental and may not work as expected
- you can only assign auto mode max_vol_sli_src = max_vol once due to some bug with unhandled exception/buffer overflow in Tradingview. Seems that you can clear the value only by removing the indicator instance
- sometimes you may see a "study in error state" error when attempting to set it back to close. Remove indicator/Reload chart and start from scratch
- may not finish to redraw and freeze in an ugly shape after an UI parameter change when max_vol_sli_src is assigned a max_vol value. Assign it to close - VP should redraw properly, but it may not clear the assigned max_vol value
- you can't seem to be able to assign a proper auto max_vol value to the 3rd slave instance
- 2x Vertical SLI works and tested in both auto/manual, 3x SLI - only manual seems to work
- This code is 20x-30x faster (main for cycle is removed) especially on lower tfs with long history - only 2-3 sec load/redraw time vs 30-60 sec of the old Pro versions
- Instead of repeatedly calculating the total sum of volumes for the whole range on each bar, vol sums are now increased on each bar and passed to the next in the range making it a per range vs per bar calculation that reduces time dramatically
- hist_base for levels still results is ugly redraw
- if you don't see a check range settings: min_level/max_level and spacing, set spacing to 0 (or adjust accordingly based on the symbol's precision, i.e. 0.00001)
- you can view either of Buy/Sell/Total volumes, but you can't display Buy/Sell levels at the same time using a single instance (this would 2x reduce the number of levels). Use 2 indicator instances in horiz buy/sell sli mode for that.
- /Value Area are calculated for a given range and updated on each bar. Each level has a fixed length. Offsets control visible level parts. Side Cover hides the invisible parts.
- Custom Color for /VA/ levels - UI Style color/transparency can only change shape's color and doesn't affect textcolor, hence this additional option
- Custom Width - UI Style supports only width <= 4, hence this additional option
- is visible in both modes. In mode Developing becomes , VA High and Low => High and Low correspondingly to minimize the number of plot outputs
- You can't change buy/sell level colors from input (only plot transparency) - this requires 2x plot outputs => 2x reduces the number of levels to fit the max 64 limit. That's why 2 additional plots are used to dim the non Value Area zones
- All buy/sell lengths are calculated as % of a fixed base width = 100 bars (100%). You can't set show_last from input to change it
- There's no such thing as buy/sell , there's just , but for the purposes of the method, assume: bull candle = buy , bear candle = sell
P.S. Gravitonium Levels Are Increasing. Unobtainium is nowhere to be found!
Links on and Value Area calculation and usage:
ver 1.0: plot style columns implementation
ver 2.0: plot style histogram implementation
ver 3.0: plot style area implementation
ver 4.0: plot style line implementation
ver 5.0: all-in-one plot styles 1-4 implementation
ver 6.0: pinescript v4 line objects implementation
Differences between implementations:
1. style: ver 1-4: columns, histogram, area, and line respectively;
ver 5: any style;
ver 6: ps v4 line objects instead of plots;
2. internal buy/sell mode: ver 1-5: no
ver 6: yes
3. sli modes: ver 1-6: yes
4. min/max level: ver 1-3,5: manual control, auto not possible
ver 4,6: manual control, auto highest/lowest in range technically possible, but discarded
5. 100% base width/length: ver 1-5: fixed (plots);
ver 6: dynamic level length control (line objects)
6. hist_base: ver 1-3: hist_base (ugly redraw),
ver 5: depends on style used
ver 4,6: no hist_base (clean redraw)
7. level width/height: ver 1: fixed bar width, no density control (discrete equalizer), spacing instead of height control
ver 2: level density control (discrete, appears more solid due to overlapping), spacing instead of height control
ver 3: density control not needed (continuous seamless area), spacing instead of height control
ver 5: depends on style used
ver 4,6: density control not needed (continuous seamless line), line width/level height control (thickness) + log scale adjustment
8. level gaps/spacing: ver 1-3: no gaps, spacing control to eliminate gaps;
ver 5: depends on style used
ver 4,6: gaps, vertical shift, line width/level height control (thickness) + log scale adjustment to eliminate gaps, no spacing control
9. transparency: ver 1,3,4,6: good;
ver 2: mediocre transparency (density is in the way)
ver 5: depends on style used
10. cover: ver 1-5: plot side cover, nva zone cover;
ver 6: covers not needed, transparency is applied directly to line objects
Changes in ver 2.0:
- histogram implementation
- floor replaced with round for more accurate len calculation
- cover style set to area (continuous cover), cover width, cover_ext_height removed as not needed
- added level width/density
- added cover ext_length to compensate for large length/density
- added cover offset relative to zero
- fixed flipped levels offset relative to zero
- fixed end of range offset for all history
- fixed nva zone cover transparency
the cleanest of plot histbase variety
- more straightforward and clean, doesn't have histbase redraw issues for levels,
- side cover still uses plot histbase style area
- large width values produce unwanted horiz expansion beyond start/end points of a level, unlike style area => solve with zero/cover offsets. Can't be fixed in adjust width for log scale mode.
- adjust width for log scale mode may break at log(0) and log(1) extremes when level, h are < 1 => produces infinite widths, only level1 = 0 can be fixed
apparently, you can assign style from input using an int var instead of a string (doesn't work).
Cons: longer compile time.
Changes in ver 6.0:
- Pinescript v4 support
- line objects implementation instead of plots, clean redraw
- internal buy/sell mode using 2x25 levels. You don't have to use SLI now
- custom color/transparency for line objects
- side cover, nva zones removed - transparency is applied directly to line objects
- 100% base level length can be set from input - you can control max width of Volume Profile
- level, offset, len and width replaced with functions
- alt range highlighting option using barcolor
- shift now also affects va levels, but not VWAP levels
- show level stats option: index, price, length, buy/sell/total volumes
- Compilation Time: 1 min vs 35-40 sec for prev versions
- Slower redraw times 5-10 sec with level stats on especially on lower tfs with long history
- uses Pinescript v3 compatibility framework
- Line Objects
- line objects don't use plot/histbase -> clean redraw with no limitations
- line objects are always shown on top of other objects, such as plot levels, zero line and side cover, it's not possible to cover/move them below.
- line objects can have variable length, use actual x,y coords and don't need side cover, while all plot levels have a fixed length of 100 bars, use offset and require cover.
- all key properties of line objects, such as x,y coords, color can be modified, objects can be moved/deleted/modified, while this is not possible for static plot levels.
- large width values cause line objects to expand only up/down from center while their length remains the same and stays within the level's start/end points similar to an area style.
- you can change level color/transparency of line objects. Due to Pinescript limitations, only discrete values are supported.
- Internal Buy/Sell mode lets you view 2x25 Buy/Sell Levels at the same time:
- when num_levels > 25 => num_levels/2 are used, otherwise num_levels are used as buy/sell levels
- volume type total: line = sell, plot = total => line objects appear as red sell levels on top of blue total levels (overlapping)
- volume type buy: line = buy, plot = total => line objects appear as green buy levels on top of blue total levels (overlapping)
- volume type sell: line = sell, plot = buy => line objects appear as red sell levels extending blue buy levels from the edge (no overlapping)
- Volume Profile calculation is not affected by shift, it is for visual correction only. Set shift to 0 to see the actual levels used in level stats
Hey, I understand your frustration but true auto range is not possible in this version due to Pinescript's limitations:
- plot zero histbase depends on pl and can't be mutable/function, must be const/expression => will work if plot zero is replaced with bgcolor or a 2-bar wide line object or removed completely - possible
- highest/lowest => na for the first range-1 bars and can't be used => Volume Profile will be empty/incorrect if n < 2*range => max_high should be calculated manually/accumulated on each bar - possible, but the effect on volume profile calculation is to be studied
- auto highest/lowest levels must be calculated once and remain fixed (freeze) for the entire session because volume is accumulated on each bar and any changes in vertical range will result in incorrect calculation of Volume Profile due to variable range min/max bounds - whether this is possible remains to be seen in future versions.
- most importantly, variable auto min/max bounds will work in Pro version with Line Objects when Volume Profile for the entire range is calculated on each bar (very slow), not accumulated. You can check it out when it's released.
- I could show a label with a text message on startup instructing the user to enter min/max levels but advanced users will consider it annoying. Also if you plan to actually use it, you're supposed to read the description anyway, learn advanced concepts like SLI etc.
Again, the focus of this version is speed of calculation and more levels coupled with the cleanest new v4 look. Both MAX/Ultra are advanced tools designed to squeeze the max out of Pinescript. Compilation time has been sacrificed.
Often the simplest and most robust things are the hardest to do, as only going through lots of iterations of the more complex ones will make you understand what simplicity is.
You can use zero line offset to shift the whole vp horizontally.
When Show Level Stats is enabled it also shows the data for each level - use Level Stats Horiz Offset to shift the data horizontally