Session Volume HD was created to add a new level of detail and precision to studying price and volume for each session of trading. Session Volume HD dynamically adjusts to show you more data as you zoom in and out of the chart.
Think of Session Volume HD like a magnifying glass for studying volume and price. What price levels are attracting the most trading volume? How does that change as we zoom in or out of a specific trading session? With Session Volume HD , the more you zoom, the more detail you will see about price and volume for a specific trading day. It's a perfect tool for traders and investors who quickly zoom in and out and change their chart resolution.
In the example above, we are looking at two charts of Tesla both set to different timeframes and resolutions. Do you see the difference between the Volume Profiles shown on each chart? The chart on the left is a daily chart dating back to November. The chart on the right is a 65-minute chart zoomed in on only the last few days of trading. Both charts are using Session Volume HD to display a Volume Profile analysis, but each chart shows a different level of detail. That's because the Session Volume HD tool is dynamically adjusting as we zoom in or out. In other words, as the zoom increases, more volume profile levels are displayed.
As you begin to understand and use Session Volume HD , it's important to remember that the tool can be customized to your needs and observations. Open its settings to get started. Every trader and investor has their own methodology and these settings will help you create your own unique style of research:
Point of Control ( POC ) – The price level for the time period with the highest traded volume . This the red line shown on both charts within each Volume Profile region. Up Volume - Determines the color for the Up Volume or points where buying occurred and price increased. Down Volume - Determines the color for the Down Volume or points where selling occurred and price decreased. Value Area Up - Determines the color for the Value Area Up or where buying occurred in a high volume zone, say 70% of all tradable volume . Value Area Down - Determines the color for the Value Area Down or where selling occurred in a high volume zone, say 70% of all tradable volume . Profile High – The highest reached price level during the specified time period. Profile Low – The lowest reached price level during the specified time period. Value Area (VA) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion. Value Area High (VAH) – The highest price level within the value area. Value Area Low ( VAL ) – The lowest price level within the value area.
We hope this tutorial helps you understand the power of Session Volume HD and other Volume Profile tools. More importantly, we hope it helps you understand all of the features, customizations, and functionality that come with them. Session Volume HD is one of the Volume Profile tools available to you and it's particularly helpful when zooming in and out of the chart, changing timeframes, and looking for additional detail as you study a specific session of trading.
Thanks for reading and please leave any feedback or comments below. If you want to see more Volume Profile tools or features - we want to hear about it! We just may build it for you.
can u give an example on how you would use this in a buy or sell on the daily you used as I think volume is bigger key than most people think
DoubleDeez
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@dmow15, Volume can be useful at times but trade long enough and you will think its overrated or can be deceiving. Good example is ROKU. I studied and made lots of money of that stock because i found when it hits certain volume, I know it’s the big boys trading. Not so much now because i saw it move 15-20 points up with 2 million in volume total throughout the day. I look over volume but i dont use it as heavy as i used to. You are better off reading the charts and setting your key levels. Learning to read the Time and sales helps way more than volume.
TradingTest42
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@DoubleDeez, Thanks for your comment (usefull to me).
Would you mind sharing your learning curve on Time and Sales with me as well as the Key levels? I'm trying to learn and have a hard time grasping what to look at at the right time.
limeandsalt
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@DoubleDeez, Would you mind sharing what do you mean by 'Learning to read the Time and sales'. Many thanks!