Volume Profile Two-Tone - Hit Counter - Meter V1

Volume Profile Two-Tone - Hit Counter - Meter V1

Overview

The Volume Profile Two-Tone - Hit Counter - Meter V1 is a Pine Script v6 indicator for TradingView, designed to visualize buy and sell activity distribution across price levels within a user-defined window or intraday session. It plots a dual-color horizontal histogram showing buying (green) and selling (red) volume intensity, along with optional hit-count numbers and meter overlays. The profile dynamically updates as new bars form, providing an intuitive picture of where market participants are most active.

The enhanced V1 edition introduces persistent hit counts, real-time adaptive row rebuilding, and improved memory management for smoother performance in both rolling-window and session modes.

How It Works

The indicator divides the selected range into rows (price bins) and aggregates trade volume (or tick volume) per bar.

Each bin separately sums up bullish and bearish contributions based on candle direction and delta logic, then draws side-by-side histogram bars:

• Buy Volume (green): Total volume from bullish bars within the bin.
• Sell Volume (red): Total volume from bearish bars within the bin.

A rolling or session-based window determines how many recent bars are analyzed. Value Area (VA), Point of Control (POC), and total hits per bin are computed continuously. The display auto-adjusts as price moves, keeping the profile anchored to the latest visible bars.
Behind the scenes, optimized arrays manage active boxes, lines, and labels for each bin. Functions like ensure_rows() rebuild buffers only when necessary, guaranteeing efficiency without repainting past data. Persistent hit-tracking ensures each price level maintains its count even when temporarily hidden.

Key Features

• Dual-Tone Volume Histogram: Buy/sell split with distinct colors for immediate visual contrast.
• Rolling or Session Profiles: Choose between continuous rolling windows or intraday session resets.
• Persistent Hit Counts: Displays total touches per bin, remaining stored even when bins refresh.
• Adaptive Row Management: Automatic rebuilding when zooming, scrolling, or changing resolution.
• Value Area + POC Detection: Highlights the most active price levels and volume concentration zones.
• Meter Overlay Option: Adds gradient bars or directional meters for quick trend context.
• Performance Optimized: Uses lightweight arrays and cached line handles for minimal CPU load.
• Custom Color Control: Editable buy/sell colors, opacity, row count, and profile width.
• Full Persistence Mode: Profiles remain visually consistent across bar updates without redraw gaps.

What It Displays

The Volume Profile Two-Tone - Hit Counter - Meter V1 presents an adaptive horizontal histogram beside the chart’s candles, revealing how volume is distributed across price.

• Green segments show dominant buying interest; red segments reveal selling pressure.
• POC line identifies the highest-volume price.
• Hit-count numbers quantify how often price traded at each level.
• Optional meters display relative directional strength within the same range.
This visual layering helps traders quickly identify supply/demand zones, balance areas, and developing auction profiles across intraday or multi-session contexts.

Originality

The Pine Script v6 indicator uses efficient array management (array.new_*, array.set, array.get) and native math operations for rendering.
It avoids external dependencies, relying only on built-in TradingView functions like request.security, box.new, line.new, and label.new for dynamic plotting.

Common Ways People Use It

• Scalpers: Study short-term imbalances or high-activity levels to time entries/exits.
• Day Traders: Track evolving session volume and POC migration.
• Swing Analysts: Compare rolling distributions to identify value shifts over multiple days.
• Volume Profilers: Combine with VWAP or order-flow tools for deeper context.

Configuration Notes

1. Profile Mode: Select Rolling Window (bars) or Session (intraday).
   
2. Rows and Width: Default = 72 rows, 44 bars width.
   
3. Colors and Opacity: Adjust to match chart theme.
   
4. Performance Mode: Choose Accurate or Fast (approximate) for speed control.
   
5. Show Hits / Meter: Enable hit-count numbers and gradient meters for added context.
   

Legal Disclaimer

For informational and educational purposes only—not investment, financial, or trading advice. Past performance does not guarantee future results; trading involves significant risk. Provided “as is,” without warranties. Consult a qualified professional before making decisions. By using, you accept all risks and agree to this disclaimer.