Draw Mode

The following are the descriptions of the different Draw Mode settings.

• Volume Profiles: This setting specifies that only Volume Profiles and other related drawings like extension lines are drawn.
• POC, VAH, VAL Lines Only: This setting specifies that the Point of Control, Value Area High, Value Area Low and Volume Weighted Average Price study Subgraph lines are drawn only.
  
  In this case the Value Area High Value and Value Area Low Value Subgraphs on the Subgraphs tab must be set to a Draw Style other than Ignore or Hidden, to be visible.
  
  In this particular mode, the study Subgraphs containing the Point of Control, Value Area High, Value Area Low and Volume Weighted Average Price data are drawn only. The Volume Profiles and any related drawings like extension lines are not drawn.
  
  The primary reason for this Draw Mode allows the Volume by Price study to function identically to the Volume Value Area Lines study and take advantage of the additional Period Types available.
• Volume Profiles & POC, VAH, VAL Lines: This setting specifies that both the Volume Profiles and Point of Control, Value Area High, Value Area Low and Volume Weighted Average Price study Subgraph lines will be displayed on the chart.

For additional information related to Draw Mode, refer to Calculating and Displaying Developing Point of Control, Value Area High/Low, Volume Weighted Average Price Lines.

With this setting in the Volume by Price study, the Volume Value Area Lines study is considered an older out of date study because Volume by Price can display lines only and has a lot more functionality. However, the Volume Value Area Lines study can still be used for efficiency if it meets your requirements, since it is faster.

Number Of Periods Back To Reference

This setting only applies when the Volume Graph Period Type Input setting is set to Multiple Profiles Based on Bar Count or Multiple Profiles Based on Fixed Time. It does not apply to any other Volume Graph Period Type.

When this is set to 0, then a Volume Profile is based upon the chart bars where it is drawn.

When this is set to a nonzero value, then a Volume Profile references the specified number of periods back relative to where it is drawn.

For example, if this is set to 1, and the Volume Profiles have a Time Period Length and Type of 2 Days, then the prior two days will be used in the calculation of the Volume Profile for a particular time period.

If there is insufficient data found at the period back being referenced, then the prior period will be used. The skipping of a period continues until a period of time is found with sufficient data. The setting that controls what is considered a sufficient amount of data is the Minimum Time Period % for Reference Days Back Input.

This is calculated based upon the average time span of the bars in that time period and the time period required. For example, if this is set to 25 percent and the time period referenced needs to be 1 Day in Length, then it is considered sufficient if only 6 hours are in that period.

This calculation can still consider periods of time where there is no trading within a day if that period of time is not filtered out by the chart Session Times. This can occur at the end of the week where the time length of the last bar until the End Time exceeds the actual time length of the bar.

Ticks Per Volume Bar

The Ticks Per Volume Bar setting specifies how many price ticks, based upon the Tick Size setting in Chart >> Chart Settings, each horizontal volume bar includes.

This controls the grouping of prices that were traded at during the specified period of time for each Volume Profile. The default is 2. This is 2 price ticks. In this case, for every two adjacent prices traded, there will be one horizontal volume bar.

For the maximum amount of detail you will want to set this to 1.

When Ticks Per Volume Bar is set to 0, it will be automatically changed to 2.

There will only be a horizontal volume bar in a Volume Profile at a price level or for a group of prices (when using a Ticks Per Volume Bar > 1), if there is trading activity at that particular price level or prices during the time period that the Volume Profile displayed is for.

In the case when you are using the Volume by Price study on a Daily, Weekly or Monthly Historical chart, we do not recommend setting this to 1. You should use a higher value somewhere between 4 to 10. Otherwise, CPU load could increase significantly. Additionally for these types of charts, select Chart >> Chart Settings and set the Volume at Price Multiplier somewhere between 5 to 10 to decrease CPU load.

When the Chart >> Chart Settings >> Volume at Price Multiplier is set to a value other than 1, then the Ticks Per Volume Bar setting needs to match it or be a multiple of it. For example, if the Volume at Price Multiplier is set to 5, then set Ticks Per Volume Bar also to 5 or a higher even multiple like 10 or 15.

If you find that the Ticks Per Volume Bar setting changes from the value you set it at, this is because the Chart >> Chart Settings >> Volume at Price Multiplier is set to a value other than 1 and it is automatically being changed to a multiple of the Volume at Price Multiplier.

Volume Graph Period Type

This setting controls the time period for each Volume Profile. Or, specifies that one profile is to be displayed and based upon the specified time period.

When using the Volume by Price study on a Trading DOM, the only options that will work for this Input are One Period Based on Bar Count or From Session Start Time to End, otherwise this Input is automatically set to From Session Start Time to End.

Set as Independent Volume Profile for TPO Chart

This Input only applies to charts that use the TPO Profile Chart study.

When this Input is set to Yes, then it is possible to set the Volume Graph Period Type Input to a setting other than Based on TPO Chart. However, Visible Bars is not supported when Set as Independent Volume Profile for TPO Charts is set to Yes.

This allows for Volume Profiles which have a time period completely independent of the TPO Profiles.

When this Input is set to Yes, then the Right Align Volume Bars and Align to Far Right Inputs will both automatically be set to Yes.

Time Period Type for 'Fixed Time'

When the Volume Graph Period Type is set to one of the following:

• Multiple Profiles Based on Fixed Time:
• One Period at End of Fixed Time Length:
• From Start Date-Time + Time Length:
• One Period from Most Recent Period Start to End:

Then this input setting specifies the time period length for the Volume Profiles. It works with the Time Period Length for 'Fixed Time' setting. The setting can be one of the following:

• Seconds
• Minutes
• Days
• Weeks
• Months
• Years

In the case of Volume Profiles based on Weeks, Months or Years, the Volume Profiles will always start at the beginning of the Week, Month, and Year respectively. In the case of profiles which are based upon multiple Weeks, multiple Months, or Multiple Years, these are relative to January 1, 1950.

In the case where you want to have Volume Profiles which are 1 Day each, set Volume Graph Period Type to Multiple Profiles Based on Fixed Time. Set the Time Period Type for 'Fixed Time' input to Days and set the Time Period Length for 'Fixed Time' input to 1.

When Volume Profiles are set to be a 'Fixed Time', then for them to be 100% accurate and exactly based upon this fixed amount of time, it is necessary under some conditions for the time period of the underlying chart bars to evenly divide into this fixed amount of time. For example, if Time Period Length for 'Fixed Time' and Time Period Type for 'Fixed Time' are set to 60 Minutes, then the period of the underlying chart bars will need to evenly divide into this time.

For example, the chart bars can be 5 minutes, 10 minutes, 30 minutes or 60 minutes or any other time period which evenly divides into them. Therefore, using variable time period bars like those based upon Number of Trades or Volume, will result in Volume Profiles which are not always 60 Minutes and instead they would be based upon the overall time length of the chart bars which best fit into the 60 Minutes timeframe. This rule is not always absolute. For example, if the Volume Profiles are 1 Day, and Chart >> Chart Settings >> New Bar At Session Start is enabled, then the underlying bars can be any timeframe.

Similar to the above, if the Volume Profiles are set to be, for example, 60 minutes and the chart bars are 180 minutes each, then it is not possible for there to be 3 Volume Profiles per bar. There is only going to be one Volume Profile per bar and they will be a time length of 180 minutes which is equivalent to the bar time period.

Time Period Length for 'Fixed Time'

This works with the Time Period Type for 'Fixed Time' setting. It specifies the number of Seconds, Minutes, Days, Weeks, Months or Years.

Number of Bars for 'Based On Bar Count'

When Multiple Profiles Based On Bar Count or One Period Based On Bar Count is selected for the Volume Graph Period Type setting, this setting defines how many chart bars the Volume Profiles will be based on.

The chart bars are counted from the first bar in the chart and repeat after that.

Volume per Profile for 'Specified Volume'

This defines the volume amount to be used when the Volume Graph Period Type is set to Specified Volume.

The volume of each Volume Profile will be equal to or greater than the number specified in this input. Most of the time it will be greater because a new Volume Profile will not be created until there is a new bar in the chart after the specified volume has been reached.

Number of Days To Calculate Volume Profiles

The default for this Input is 0. When this is set to a nonzero number, this specifies the number of days in the chart that Volume Profiles are calculated for from the last date loaded in the chart. For example, if this is set to 10 and the chart has 100 days of data loaded, then Volume Profiles will only be calculated for the last 10 days in the chart.

When this is set to 0, then Volume Profiles are calculated for all days loaded in the chart.

This Input has no effect upon the time length of individual Volume Profiles in the chart, other than possibly the first one calculated. For example, if there is a Volume Profile which has a time length of 90 days and this Input is set to 10, then that Volume Profile will only consist of 10 days.

Start Date

This setting is used to specify a Start Date when the Volume Graph Period Type requires a Start Date.

Use Different Start Time

Set this option to Yes to specify a different Start Time for the Volume Profiles that differs from the Session Times in Chart >> Chart Settings. The time is set through the Start Time Input setting.

Start Time

This setting is used to specify a Start Time when the Volume Graph Period Type requires a Start Time.

This time setting is relative to the Time Zone setting you have set in Global Settings >> Data/Trade Service Settings.

End Date

This setting is used to specify an End Date when the Volume Graph Period Type requires an End Date.

End Time

This setting is used to specify an End Time when the Volume Graph Period Type requires an End Time.

This time setting is relative to the Time Zone setting you have set in Global Settings >> Data/Trade Service Settings.

Use Separate Profile for Evening Session

When this option is set to Yes and you have defined and enabled the Evening Session Times in Chart >> Chart Settings, then a separate Volume Profile will be displayed for the evening session. This means you will have 2 profiles for each day in an Intraday chart.

This option is only valid when the Volume Graph Period Type Input is set to Multiple Profiles Based on Fixed Time and the Time Period for the volume profiles is set to 1 Day.

You must also define and enable the Evening Session Times in Chart >> Chart Settings for this setting to work. Refer to Session Times for more information.

When this Input is set to Yes, the time period for chart bars must not be greater than the time span of either the main session or the evening session.

The color of the Evening Session Volume Profiles is controlled with the Evening Session Volume Bars Outline and Fill Colors Subgraph.

For step-by-step instructions to use this Input, refer to Displaying Separate Profiles for Day and Evening Sessions.

Exclude Evening Session Profiles Except for Last Day

When this input is set to Yes the Evening Session information is excluded from the calculation and placement of the Volume Profiles, except for the last day of chart data where the Evening Session information is included.

Maximum Volume Bar Width Type

This can be set to Period Length, Window Width, or Automatic.

This setting allows you to base the width (horizontal length) of the volume bar with the maximum volume in the Volume Profile to be based upon the width of the chart window (Window Width), the length of the Volume Profile period (Period Length), or automatically switch between Window Width and Period Length when you have selected Automatic.

When using Window Width, the width is based upon the overall width of the visible bars in the chart. If there is a blank area on the right side of the chart due to setting a Right Side Fill Space or not enough bars to fill up the chart, then that blank area is not considered in the calculation of the available space.

When using a setting of Automatic, the Length is used if it is less than the window width. Otherwise, the Window Width is used.

Also refer to the related setting Maximum Volume Bar Width Percentage.

Maximum Volume Bar Width Percentage

This percentage setting works with the Maximum Volume Bar Width Type setting and specifies the percentage of the Window Width or the Period Length that the maximum volume bar horizontal width will use of the total available width.

This input takes integer values between 1 and 100. Values entered outside of this range will be removed and the value set to the closest value of 1 or 100.

Right Align Volume Bars

Normally the Volume Profile bars are displayed at the beginning of each period with the base of the volume bars going from left to right. When the Right Align Volume Bars setting is set to Yes, the Volume Profile bars will be displayed at the right side of each period with the base the volume bars going from right to left. If you always want the very last displayed Volume Profile, to be aligned to the right side of the chart window beside the Values Scale, refer to Right Aligning Profiles with Space on Right Side.

When this setting is set to Yes, and the Bid Volume and Ask Volume portion of the volume bars are colored, then the Bid Volume will be on the right side of the volume bar and the Ask Volume will be on the left.

Display Volume in Bars

This setting lets you choose to display numerical data for each horizontal Volume Bar of any of the specified types:

• None: This displays no text information in the Volume Bar.
• Total Volume: This displays the total volume traded at the given price(s) for the specified period of time for each Volume Bar.
• Total Volume - POC Only: This displays the total volume traded at the given price(s) for the specified period of time for only the volume bar that is the Point of Control (the volume bar with the highest volume).
• Bid Volume x Ask Volume: This displays both the Bid Volume and the Ask Volume in the form of Bid Volume x Ask Volume for each Volume Bar.
• Ask Volume - Bid Volume: This displays the difference between the Ask Volume and Bid Volume for each Volume Bar.
• Number of Trades: This displays the number of trades that have taken place at the given price(s) for the specified period of time for each Volume Bar. When this is the setting used, the display will show the number of trades followed by a T - for example 2819T.
• Bid Volume - Ask Volume: This displays the difference between the Bid Volume and the Ask Volume for each Volume Bar.
• Ask Volume - Bid Volume, TotalVolume: This displays the difference between the Ask Volume and the Bid Volume along with the Total Volume for each Volume Bar. The values are shown in the form Volume Difference | Total Volume - for example 785 | 6783.
• Volume at High/Low: This displays the Total Volume only in the volume bars located at the highest price point and the lowest price point.
• Percent of Maximum Volume of Volume Bars: This displays a percentage for each volume bar. The percentage is determined by taking the volume in the given bar divided by the volume in the Point of Control bar (the bar with the highest volume). This results in the Volume Bar that is the Point of Control having a value of 100%.
• Percent of Total Volume: This displays a percentage for each volume bar. The percentage is determined by taking the volume in the given bar divided by the total volume from all volume bars within the given Volume Bars display. This results in the sum of all percentages to equal 100%.
• Ask Volume Bid Volume % of Total Volume: This displays the percentage values of the Ask Volume and the Bid Volume for each Volume Bar. The Ask Percentage is calculated as: Ask Percentage = Ask Volume / Total Volume in Bar. The Bid Percentage is calculated as: Bid Percentage = Bid Volume / Total Volume in Bar.
• Total Volume (Price): This displays the Total Volume and the associated price for each Volume Bar. The information is displayed as Volume (Price) - for example 4255 (2466.25), where 4255 is the total volume at price 2466.25.
• Diagonal Ask Vol Bid Vol Difference: This displays the diagonal difference between the Bid and Ask Volumes. The Bid Diagonal Difference Volume is defined as: Bid Diagonal Difference Volume = Bid Volume at Given Price - Ask Volume at Next Higher Price. The Ask Diagonal Difference Volume is defined as: Ask Diagonal Difference Volume = Ask Volume at Given Price - Bid Volume at Next Lower Price. The information is displayed as Bid Diagonal Difference Volume | Ask Diagonal Difference Volume - for example -51 | 530. Refer to Diagonal Comparison of Bid Volume and Ask Volume for more information on diagonal comparisons.
• Diagonal Ask Volume - Bid Volume: This displays the diagonal difference between the Ask Volume and Bid Volume. The calculation always uses the Ask Volume first, which results in the same values diagonally opposing instead of being negatives of each other as seen when using Diagonal Ask Vol Bid Vol Difference. The Bid Diagonal Ask Volume - Bid Volume is defined as: Bid Diagonal Ask Volume - Bid Volume = Ask Volume at Next Higher Price - Bid Volume at Price. The Ask Diagonal Ask Volume - Bid Volume is defined as: Ask Diagonal Ask Volume - Bid Volume = Ask Volume at Price - Bid Volume at Next Lower Price. The information is displayed as Bid Diagonal Ask Volume - Bid Volume | Ask Diagonal Ask Volume - Bid Volume - for example -51 | 530. Refer to Diagonal Comparison of Bid Volume and Ask Volume for more information on diagonal comparisons.
• Bid Volume: This displays the total bid volume for each volume bar.
• Ask Volume: This displays the total ask volume for each volume bar.

The Volume Numbers Text Color and Size Subgraph settings control both the color and font size of the text. The Color settings define the display color of Positive numbers (left color) and Negative numbers (right color). The Size setting controls the font size if it is set to a value other than 0. Otherwise, the font size is controlled automatically.

Volume Text Threshold

This Input setting only applies when the input Display Volume In Bars is set to display text information. Only values that exceed this input will be displayed on the volume bars. The default value is 0 which means all values are displayed on the volume bars.

When Display Volume In Bars is set to display more than one value, like Bid Volume x Ask Volume, text information is displayed only if all the values exceed this input value.

Always Display Last Profile Within View

When the Volume Graph Period Type is set to a value that consists of multiple Volume Profiles, the last profile can often go off the chart window and not be fully visible. When this option is set to Yes, the last Volume Profile is moved to the far right of its period and the bars will always be displayed within view on the chart window while that period is in view.

When none of the bars that are part of the last profile period are in view, the Volume Profile will not be visible.

Volume Bar Calculation Method

This input controls what value is used in the determination of the length of the bars in the Volume by Price study.

The profile bars lengths are determined relative to the position of the end of the bar with the maximum volume. The end point of the bar with the maximum volume is determined from the Maximum Volume Bar Width Type and the Maximum Volume Bar Width Percentage input settings.

The following options for this input setting are available:

• Total Volume: This uses the Total Volume for the calculation of the length of the bars.
• Bid Volume: This uses just the Bid Volume in the determination of the length of the bars. Note that if the setting of Bid Volume and Ask Volume Coloring Method is set to Separate Bid/Ask Volume Coloring or Dominant Bid or Ask Volume Coloring - Full Bar Color the bars will extend further out than what is set in the Maximum Volume Bar Width Type and Maximum Volume Bar Width Percentage due to the addition of the other volumes to the Bid Volume as a base.
  
  By using this setting with the Bid Volume and Ask Volume Coloring Method set to None, the Volume by Price Profiles are displaying only the Bid Volume information.
• Ask Volume: This uses just the Ask Volume in the determination of the length of the bars. Note that if the setting of Bid Volume and Ask Volume Coloring Method is set to Separate Bid/Ask Volume Coloring or Dominant Bid or Ask Volume Coloring - Full Bar Color the bars will extend further out than what is set in the Maximum Volume Bar Width Type and Maximum Volume Bar Width Percentage due to the addition of the other volumes to the Ask Volume as a base.
  
  By using this setting with the Bid Volume and Ask Volume Coloring Method set to None, the Volume by Price Profiles are displaying only the Ask Volume information.
• Ask Volume - Bid Volume: This uses the absolute value of the difference between the Ask Volume and the Bid Volume in the determination of the length of the bars. When using this calculation setting, the Bid Volume and Ask Volume Coloring Method can only be set to None or Difference of Bid and Ask Volume Coloring.
• Diagonal Ask Volume - Bid Volume: With this calculation method, the length of the bars is determined from either a Bid Diagonal Difference Volume or an Ask Diagonal Difference Volume. The Diagonal Bid Volume Difference is defined as: Bid Diagonal Difference Volume = Absolute Value(Bid Volume at Given Price - Ask Volume at Next Higher Price). The Ask Diagonal Difference Volume is defined as: Ask Diagonal Difference Volume = Absolute Value(Ask Volume at Given Price - Bid Volume at Next Lower Price). The choice of Bid Diagonal Difference Volume or Ask Diagonal Difference Volume is done according to the following rules:
  • If the Bid Volume is exclusively dominant, then the Bid Diagonal Difference Volume is used for the calculation of the length of the bars. The Bid Side is exclusively dominant if the Bid Volume at the given price is greater than the Ask Volume at the next higher price point and the Ask Volume at the given price is less than the Bid Volume at the next lower price point.
  • If the Ask Volume is exclusively dominant, then the Ask Diagonal Difference Volume is used for the calculation of the length of the bars. The Ask Volume is exclusively dominant if the Ask Volume at the given price is greater than or equal to the Bid Volume at the next lower price point and the Bid Volume at the given price is less than or equal to the Ask Volume at the next higher price point.
  • If neither the Bid or the Ask is exclusively dominant (both the Bid and the Ask are dominant or both the Bid and the Ask are not dominant) then the Bid Diagonal Difference Volume is compared to the Ask Diagonal Difference Volume with the following rules:
    • If the Bid Diagonal Difference Volume is greater than the Ask Diagonal Difference Volume, then the Bid Diagonal Difference Volume is used for the calculation of the length of the bars.
    • If the Ask Diagonal Difference Volume is greater than or equal to the Bid Diagonal Difference Volume, then Ask Diagonal Difference Volume is used for the calculation of the length of the bars.
  
  For more information on Diagonal Calculations refer to Diagonal Comparison of Bid Volume and Ask Volume.

Value Area, POC, Peak and Valley Based on Total Volume Always

When this Input is set to Yes then the total volume is used to calculate the Value Area, Point of Control, and Peaks and Valleys, instead of using the volume type set in the Volume Bar Calculation Method.

Otherwise, when this Input is set to No, then the volume defined in the Volume Bar Calculation Method is used to determine the Value Area, Point of Control, and Peaks and Valleys.

Bid Volume and Ask Volume Coloring Method

This Input setting allows you to color the Bid Volume and Ask Volume portion of the Volume Bars according to the selected method. The colors are specified through the Subgraphs tab of the Study Settings window for the Volume by Price study. Refer to the Color Settings section for descriptions for each of these color settings.

When the Input settings to highlight the Value Area and/or the Point of Control are enabled, then this option is ignored and Bid Volume and Ask Volume are not colored for those areas.

• None: When this option is selected, the bars are not colored using the Bid or Ask coloring. The Volume Bars Fill Color is used instead.
• Separate Bid/Ask Volume Coloring: With this coloring method, the portion of the Volume bar that represents Bid Volume is colored the Bid Volume color and the portion that represents the Ask Volume is colored the Ask Volume color.
  
  The portion of the Volume bar that represents volume which is not considered Bid Volume or Ask Volume, will be colored the standard Volume Bars Fill color.
  
  When there are bars in the chart which do not have Bid Volume or Ask Volume because this type of volume data is not provided by the historical data with the Data or Trading service you are using, then you will see portions of the Volume bars colored the standard Volume Bars Fill color.
• Difference Of Bid And Ask Volume Coloring: With this coloring method, the difference between Ask Volume and Bid Volume is calculated and the portion of the Volume bar which represents this difference is colored the Ask Volume color if Ask Volume is greater, or the Bid Volume color if the Bid Volume is greater. The remaining portion of the bar is colored the Volume Bars Fill color (SG8).
• Dominant Bid or Ask Volume Coloring - Full Bar: With this coloring method, the entire Volume bar is colored a single color that is either the Bid Volume Color or the Ask Volume Color, depending on which volume is greater.
• Dominant Bid Or Ask Volume Coloring: With this coloring method, the portion of the Volume bar that makes up BidVolume or AskVolume is colored a single color and the color is either the BidVolume or AskVolume color, depending upon which volume is greater. The rest of the bar is colored the Volume Bars Fill color.
• Diagonal Difference of Bid and Ask Volume Coloring: With this coloring method, the Volume Bar color and length are determined from either a Bid Diagonal Difference Volume or an Ask Diagonal Difference Volume. The Diagonal Bid Volume Difference is defined as: Bid Diagonal Difference Volume = Absolute Value(Bid Volume at Given Price - Ask Volume at Next Higher Price). The Ask Diagonal Difference Volume is defined as: Ask Diagonal Difference Volume = Absolute Value(Ask Volume at Given Price - Bid Volume at Next Lower Price). The choice of Bid Diagonal Difference Volume or Ask Diagonal Difference Volume is done according to the following rules:
  • If the Bid Volume is exclusively dominant, then the portion of the bar that represents the Bid Diagonal Difference Volume is colored the Bid Volume Color and the rest of the bar is colored the Volume Bars Fill Color. The Bid Side is exclusively dominant if the Bid Volume at the given price is greater than the Ask Volume at the next higher price point and the Ask Volume at the given price is less than the Bid Volume at the next lower price point.
  • If the Ask Volume is exclusively dominant, then the portion of the bar that represents the Ask Diagonal Difference Volume is colored the Ask Volume Color and the rest of the bar is colored the Volume Bars Fill Color. The Ask Volume is exclusively dominant if the Ask Volume at the given price is greater than or equal to the Bid Volume at the next lower price point and the Bid Volume at the given price is less than or equal to the Ask Volume at the next higher price point.
  • If neither the Bid or the Ask is exclusively dominant (both the Bid and the Ask are dominant or both the Bid and the Ask are not dominant) then the Bid Diagonal Difference is compared to the Ask Diagonal Difference with the following rules:
    • If the Bid Diagonal Difference Volume (as defined above) is greater than the Ask Diagonal Difference Volume, then the portion of the bar that represents the Bid Diagonal Difference Volume is colored the Bid Volume Color and the rest of the bar is colored the Volume Bars Fill Color.
    • If the Ask Diagonal Difference Volume (as defined above) is greater than or equal to the Bid Diagonal Difference Volume, then the portion of the bar that represents the Ask Diagonal Difference Volume is colored the Ask Volume Color and the rest of the bar is colored the Volume Bars Fill Color.
  The visible length of a Volume bar at a price level when using a coloring method based on the diagonal difference of Ask Volume and Bid Volume will be based upon this difference and not the actual volume at the price level. This is essential to understand if you see a length that does not seem correct. Refer to Diagonal Comparison of Bid Volume and Ask Volume for more information on diagonal comparisons.
  
  This color selection can only be used when the Volume Bar Calculation Method is set to Diagonal Ask Volume - Bid Volume. When the Volume Bar Calculation Method is not set to Diagonal Ask Volume - Bid Volume and the Bid Volume and Ask Volume Coloring Method is set to Diagonal Difference of Bid and Ask Volume Coloring, then when selecting OK or Apply, the Bid Volume and Ask Volume Coloring Method will change to a different selection based on the current setting for Volume Bar Calculation Method.

This setting is inferior to the Color Code Volume Bars Based on Percentage of POC input setting. Therefore, if the Color Code Volume Bars Based on Percentage of POC is set to Yes, then the bars will be colored using the color codes and not this input.

Draw Outline When Coloring Bid Volume And Ask Volume

When a Volume Bar Profile has a Bid Volume and Ask Volume Coloring Method other than None set and this option is set to Yes, the Volume Bars outlining is displayed around the portion of the bars that displays the Bid and/or Ask Volume Coloring. Otherwise, the outlining is not displayed.

Draw Difference of Bid and Ask Volume Using Percent of Max Bar

When the Bid Volume and Ask Volume Coloring Method is set to Difference of Bid And Ask Volume Coloring and the Volume Bar Calculation Method is set to Total Volume, Bid Volume, or Ask Volume then this Input can be set to Yes in which case, the length of the Difference of Bid and Ask Volume Coloring bars will be established by the setting for Difference of Bid and Ask Volume Coloring Percentage of Maximum Bar.

Otherwise, when this Input is set to No, and the Bid Volume and Ask Volume Coloring Method is set to Difference of Bid and Ask Volume Coloring, then the length of the Difference of Bid And Ask Volume Coloring bars is established by the absolute value of the difference of bid and ask volumes relative to the setting of the Volume Bar Calculation Method.

When the Bid Volume and Ask Volume Coloring Method is set to any value other than Difference of Bid And Ask Volume Coloring or the Volume Bar Calculation method is set to any value other than Total Volume, Bid Volume, or Ask Volume, then this Input cannot be changed from No.

Difference of Bid and Ask Volume Coloring Percentage of Maximum Bar

When the Input for Draw Difference of Bid and Ask Volume Using Percent of Max Bar is set to Yes, then the value entered in this Input determines the length of the Difference of Bid And Ask Volume Coloring bars.

Only whole numbers between 1 and 100 can be entered for this Input.

A value of 100 in this Input will draw the largest Difference of Bid and Ask Volume Coloring bar the same length as the shortest of the longest bars of the calculated volume profiles. For example, if a total of 5 Volume Profiles are on a chart, but only 2 are in the visible area, then the longest bar of the 2 visible profiles (as these are the only profiles calculated at that time) are compared and the shorter one is used to establish the 100% length of the largest Difference of Bid and Ask Volume in those 2 visible profiles.

Given this method of calculation, it means that if the Draw Difference of Bid and Ask Volume Using Percent of Max Bar is set to Yes, then the lengths of the Difference of Bid and Ask Volume Coloring will change as new data is added to the chart and as the chart is scrolled or expanded/contracted and different profiles are brought in and out of view. But, when the data is exactly the same on the screen, then this also means that the length of the bars will be the same as they were previously.

Use Transparent Draw Style

When this option is set to Yes, the Volume Profile bars are drawn transparent. The amount of the transparency is set with the Transparency Level setting. Using Transparency is not recommended because it elevates CPU usage can can alter the visual appearance of the Volume Profiles in detrimental ways. Use it only when absolutely necessary and set up the Volume Profiles initially without Transparency until you get the Volume Profiles displayed the way that you want, then turn on the Transparency.

Transparency Level

This sets the level of transparency as a percentage when Use Transparent Draw Style is set to Yes. This setting makes the image more transparent as the numbers go higher. So a transparency value of 80 makes the Volume Profiles more transparent than a value of 50, and a solid Volume Profile would have a value of 0.

Highlight Value Area

When this option is set to Yes, the volume bars which represent the Value Area High and Low range are colored the Value Area and Outline color.

The value area comprises the volume bars centered at the point of control and around the point of control which are the Value Area Percentage of the total volume of the entire Volume Profile.

The Value Area percentage is controlled with the Value Area Percentage setting.

To highlight only the High and Low volume bars of the Value Area, set Highlight Value Area High and Low Only to Yes.

Extend Value Area

This setting causes a line to be drawn at the Value Area High and Low that extends to the setting value.

• None: The Value Area Lines are not drawn.
• End of Period: The Value Area Lines are extended to the right until the end of the period as defined in the Volume Graph Period Type.
• End of Window: This is similar to the End of Period setting, in that the Value Area Lines are extended to the end of the period for all Volume by Price Profiles except for the last one in the chart which has the Value Area Lines drawn to the right side of the chart window.
• Until Future Intersection: Each Value Area line is individually extended until it encounters future Volume Profiles which covers a price range which intersects with the particular Value Area line being extended. If an intersection is not encountered, then the Value Area Line is extended to the right side of the chart.
• Extend to Both Window Edges: Each Value Area line is extended both to the right and to the left edge of the chart. Only the Value Area Lines that are associated with a Volume by Price Profile which has part of its period (as defined in the Volume Graph Period Types) displayed in the chart window will be viewable. This means that as a chart is scrolled in time to the left and right, the different Value Area Lines will be added or removed as periods are scrolled into and out of the viewable chart area.

When extending the Value Area, the colors of the extension lines and enabling of the Name and Value Labels is done through the Value Area and Outline Subgraph.

It is possible to enable labeling on the Value Area lines when they have been set to be extended through this Input. This is done through the subgraph tab. Refer to Extension Line Labels for more information.

Refer to the image below for an example.

Value Area Percentage

The Value Area Percentage setting specifies the percentage of the total volume of a Volume Profile that makes up the Value Area.

When the Volume by Price study is used on a chart that has the TPO Profile Chart study, then the Value Area Percentage Input will be set the same as the Volume Value Area % Input with the TPO Profile Chart study. Therefore, it is necessary to change the Value Area percentage through the corresponding TPO Profile Chart study Input.

Highlight Point of Control

When this setting is set to Yes, the volume bar which represents the Point of Control is colored the Point of Control Color.

Extend Point of Control

This setting causes a line to be drawn at Point of Control that extends to the setting value.

• None: The Point of Control Line is not drawn.
• End of Period: The Point of Control Line is extended to the right until the end of the period as defined in the Volume Graph Period Type.
• End of Window: This is similar to the End of Period setting, in that the Point of Control Line is extended to the end of the period for all Volume by Price Profiles except for the last one in the chart which has the Point of Control Line drawn to the right side of the chart window.
• Until Future Intersection: The Point of Control Line is extended until it encounters a future Volume Profile which covers the price range which intersects with the Point of Control Line. If an intersection is not encountered, then the Point of Control Line is extended to the right side of the chart.
• Extend to Both Window Edges: The Point of Control Line is extended both to the right and to the left edge of the chart. Only the Point of Control Lines that are associated with a Volume by Price Profile which has part of its period (as defined in the Volume Graph Period Types) displayed in the chart window will be viewable. This means that as a chart is scrolled in time to the left and right, the different Point of Control Lines will be added or removed as periods are scrolled into and out of the viewable chart area.

It is possible to enable labeling on the Point of Control line when it has been set to be extended through this Input. This is done through the subgraph tab. Refer to Extension Line Labels for more information.

Future Intersection Method

The future intersection methods controls, what will stop the future intersection line. The choices are Volume Profiles or Chart Bars.

When using Volume Profiles, when a future intersection line touches a Volume Profile it will stop there. When using Chart Bars, when a future intersection line touches a chart bar, it will stop there.

It is important to understand that extension lines only begin to terminate, at chart bars which are after the volume profile time period.

Extend Volume Weighted Average Price

This setting causes a line to be drawn at the Volume Weighted Average Price that extends to the setting value.

• None: The Volume Weighted Average Price Line is not drawn.
• End of Period: The Volume Weighted Average Price Line is extended to the right until the end of the period as defined in the Volume Graph Period Type.
• End of Window: This is similar to the End of Period setting, in that the Volume Weighted Average Price Line is extended to the end of the period for all Volume by Price Profiles except for the last one in the chart which has the Volume Weighted Average Price Line drawn to the right side of the chart window.
• Until Future Intersection: The Volume Weighted Average Price Line is extended until it encounters a future Volume Profile which covers the price range which intersects with the Volume Weighted Average Price Line. If an intersection is not encountered, then the Volume Weighted Average Price Line is extended to the right side of the chart.
• Extend to Both Window Edges: The Volume Weighted Average Price Line is extended both to the right and to the left edge of the chart. Only the Volume Weighted Average Price Lines that are associated with a Volume by Price Profile which has part of its period (as defined in the Volume Graph Period Types) displayed in the chart window will be viewable. This means that as a chart is scrolled in time to the left and right, the different Volume Weighted Average Price Lines will be added or removed as periods are scrolled into and out of the viewable chart area.

It is possible to enable labeling on the Volume Weighted Average Price Line when it has been set to be extended through this Input. This is done through the Volume Weighted Average Price settings on the subgraph tab. Refer to Extension Line Labels for more information.

Align Volume Numbers to Base of Volume Bars

When this setting is set to Yes and Display Volume in Bars is set to a setting other than None, then the volume numbers are aligned to the base of the volume bars. The base is on the left side of a Volume Profile unless the Volume Profiles are right aligned. By default this input is set to Yes. When this setting is changed to No, the volume numbers are then right-aligned with the end of each volume bar.

For the most accurate volume readings, you need to have tick by tick data in the Intraday chart data file. Refer to Tick by Tick Data Configuration.

This setting cannot be changed for Volume by Price Studies on the Trade DOM windows.

Volume Bars Draw Method

This setting can be set to the following:

• Filled Volume Bars: The Volume Profile is drawn as horizontal volume bars that are filled with the specified color. The Volume Bars Outline and Fill Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color and Line Width for the primary profile. The Evening Session Volume Bars Outline and Fill Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color and Line Width for the Evening Session Profile when displayed separately.
• Volume Profile Outline Only: Only a single line outline is drawn for the Volume Profile connecting the center points of each bar, rather than horizontal bars. This is useful to give a profile a very minimal appearance. The Right Align Volume Bars Input can be set to Yes to align these profiles from right to left.
  
  The Volume Bars Outline and Fill Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color, Line Style, and Line Width for the primary profile. The Evening Session Volume Bars Outline and Fill Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color, Line Style, and Line Width for the Evening Session Profile when displayed separately.
  
  The Use Transparent Draw Style option does not apply when using this Draw Method.
• Hollow Volume Bars: The Volume Profile is drawn as horizontal volume bars that are not filled and are hollow. The Volume Bars Outline and Fills Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color and Line Width for the primary profile. The Evening Session Volume Bars Outline and Fill Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color and Line Width for the Evening Session Profile when displayed separately.
  
  The Use Transparent Draw Style option does not apply when using this Draw Method.
• Hologram: The Volume Profile is drawn as a rectangular style outline. The Volume Bars Outline and Fills Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color and Line Width for the primary profile. The Evening Session Volume Bars Outline and Fill Colors Subgraph on the Subgraphs tab of the Study Settings window controls the Color and Line Width for the Evening Session Profile when displayed separately.
  
  The Use Transparent Draw Style option does not apply when using this Draw Method.
• Blank: With this Draw Method, the Volume Profiles will not be drawn. However, extension lines, if enabled, will still be drawn.

Allow Side-By-Side Profiles on Right Side

When this option is set to Yes, multiple instances of the Volume by Price study which are set to be displayed on the far right side of the chart, will be displayed side by side and not overlap each other.

The order of these Volume by Price study instances in the Studies to Graph list controls the order in which they are drawn on the right side. The first one will be drawn on the rightmost side, the second one will be drawn to the left of the first one, and so on. For more information refer to the Study Display Order documentation.

Follow these instructions to display multiple instances of the Volume by Price study on the right side of the chart.

1. Add all of the Volume by Price study instances to the chart and configure them as you require.
2. Each instance of the Volume by Price study needs to have the Volume Graph Period Type input set to either:
   • A single period.
   • Multiple periods with the Always Display Last Profile Within View input set to Yes. Note that if multiple profiles are used, the Volume by Price profiles on the right side will still overlap the profiles from earlier periods when scrolling the chart back through the timeframe.
3. Each instance of the Volume by Price study needs to have Right Align Volume Bars input set to Yes.
4. Each instance of the Volume by Price study needs to have Allow Side By Side Profiles on Right Side input set to Yes.
5. Each instance of the Volume by Price study needs to have Align to Far Right input set to Yes.

Use Defined Width for Side-By-Side Profiles on Right

When a profile is right-aligned and has the Input for Allow Side-By-Side Profiles on Right Side set to Yes, then when this Input is also set to Yes, then the profile will retain the width as defined by the Inputs for Maximum Volume Bar Width Type and Maximum Volume Bar Width Percentage.

This means that if there are additional profiles to the left of this profile, then as the profile bars are moved up or down out of the visible area, the profile to the left will stay in the same position and will not adjust to the visible bars of this profile.

Draw Profile Outline Enclosing Bars

When this option is set to Yes, then a rectangular outline will be drawn around all of the chart bars that the Volume Profile consists of.

Draw Peaks and Valleys

This option will draw a line extending from a profile bar that is found to be either a Peak or a Valley.

A peak or valley is defined when a given volume bar has bars above that are either less than it (Peak) or greater than it (Valley), in volume. And volume bars below that are either less than or equal to it (Peak) or greater than or equal it (Valley), in volume.

The choices are None, Both Peaks and Valleys, Peaks Only, or Valleys Only.

The following additional Inputs affect how the Peaks and Valleys are determined and drawn. Refer to the individual documentation for each item for more information.

• Peaks and Valleys Sensitivity: This controls the number of bars above and below that are searched to determine a peak or valley.
• Include High/Low in Peaks and Valleys: This controls whether the highest and lowest bars within the Volume Profile are included in the calculation.
• Extend Peaks and Valleys: This controls how the Peaks and Valleys Lines are extended.

Note that the Peaks and Valleys are always determined from the Total Volume at each price level. Therefore, changes to the Volume Bar Calculation Method will not affect the calculation of the Peaks and Valleys.

Peaks and Valleys Sensitivity

The Peaks and Valleys Sensitivity refers to the number of horizontal volume bars that are searched above and below each Volume bar to determine whether a particular volume bar is a Peak or a Valley.

For example, if this is set to 10 and the Ticks Per Volume Bar Input is set to 1, then 10 ticks above and below each price level there is Volume for is searched.

In the case when the sensitivity is set to 10, if the 10 price levels above a particular price level have a lower volume than the volume bar the price level being compared to, and 10 price levels below a particular price level have a lower or equal volume than the volume bar at the price level being compared to, then this will be considered a Peak Volume bar and a horizontal line is drawn outward from the Peak.

In the case when the sensitivity is set to 10, if the 10 price levels above a particular price level have a higher volume than the volume bar the price level being compared to, and 10 price levels below a particular price level have a higher or equal volume than the volume bar at the price level being compared to, then this will be considered a Valley Volume bar and a horizontal line is drawn outward from the Valley.

The Color, Line Style, and Line Width are controlled with the Peaks and Valleys Subgraph on the Subgraphs Tab.

Include High/Low in Peaks and Valleys

When this option is set to Yes, the highest and lowest Volume bars within a Volume Profile are included in the calculations to determine Peak and Valley Volume bars. When this is set to No, the highest and lowest Volume bars are not included in the calculations.

Align to Far Right

When this Input is set to Yes the Volume Profile will be aligned to the far right side of the chart. In the case of Trade DOM windows, the profile will always be aligned to the far right if it is right aligned.

This Input setting only applies when the Volume Graph Period Type is set to a value that consists of a single Volume Profile Only.

To align the last Volume Profile to the far right when the Volume Graph Period Type is set to a value that consists of multiple Volume Profiles, the Always Display Last Profile Within View should be set to Yes.

Do Not Overlap DOM Graph

When this Input is set to Yes, Align to Far Right is set to Yes, and the Trade >> Draw DOM Graph On Chart is enabled, then the Volume Profile displayed on the right side of the chart will be adjusted to not overlap the DOM Graph.

Extend Peaks and Valleys

This option controls various methods of extension lines for the Peak and Valley volume bars.

• End of Period: The Peaks and Valleys Lines are extended to the right until the end of the period as defined in the Volume Graph Period Type.
• End of Window: This is similar to the End of Period setting, in that the Peaks and Valleys Lines are extended to the end of the period for all Volume by Price Profiles except for the last one in the chart which has the Peaks and Valleys Lines drawn to the right side of the chart window.
• Until Future Intersection: Each Peaks and Valleys Line is individually extended until it encounters future Volume Profiles which covers a price range which intersects with the particular Peaks and Valleys line being extended. If an intersection is not encountered, then the Peaks and Valleys Line is extended to the right side of the chart.
  
  The intersection is never, within the time period of the Volume Profile the extension line originates from. Only future profiles. The forward extending, is always towards future time to the right.
• Extend to Both Window Edges: Each Peaks and Valleys line is extended both to the right and to the left edge of the chart. Only the Peaks and Valleys Lines that are associated with a Volume by Price Profile which has part of its period (as defined in the Volume Graph Period Types) displayed in the chart window will be viewable. This means that as a chart is scrolled in time to the left and right, the different Peaks and Valleys Lines will be added or removed as periods are scrolled into and out of the viewable chart area.

It is possible to enable labeling on the Peaks and Valleys Lines when they have been set to be extended through this Input. This is done through the Volume Peaks and Volume Valleys settings on the subgraph tab. Refer to Extension Line Labels for more information.

Highlight Value Area High and Low Only

When this Input is set to Yes and the Highlight Value Area Input is set to Yes, then only the Value Area High and Low horizontal volume bars will be highlighted the Value Area Color set with the Value Area and Outline colors.

Otherwise, all horizontal volume bars within the Value Area will be highlighted the Value Area color when the Highlight Value Area Input is set to Yes.

Calculate Developing POC and Value Area

When this Input setting is set to Yes, then the Point of Control, Value Area High Value, Value Area Low Value study graphs will contain the developing Point of Control and Value Area values.

What this means is that at every bar in the chart, they will contain the values calculated up to the moment in time the bar is for instead of equivalent to the values for the entire Volume Profile they are for.

To actually see these lines on the chart set the Draw Mode Input to one of the options that contains POC, VAH, VAL Lines.

The data in these Studies can also be programmatically accessed by ACSIL. Refer to the Using Study/Indicator Data in an ACSIL Function.

Color Code Volume Bars Based on Percentage of POC

When this Input setting is set to Yes, each horizontal Volume Bar in a Volume Profile is colored based upon the its percentage relative to the Point of Control.

There are 10 color settings named #%-#% POC Color in the list of Inputs following this Input setting which control the colors based on the percentage that the Volume Bar relative to the Point of Control volume.

This setting takes precedence over the Bid Volume and Ask Volume Coloring Method. Therefore, if this option is seet to Yes, then the Volume Bars will use this Color Coding.

Number of POC Ranges to Color

The default for this Input is 10. This means that all 10 #%-#% POC Color Input settings are used to color all of the Volume bars. If this is set to 1, then only the 90% - 100% POC Color is used. The remaining volume bars that do not meet this condition use coloring based upon the other Input and Subgraph settings like the Bid Volume and Ask Volume Coloring Method Input.

The higher the number for the Number of POC Ranges to Color Input, the more #%-#% POC Color Input Settings which are used.

#%-#% POC Color

These color settings are used when the Color Code Volume Bars Based on Percentage of POC Input is set to Yes. Each color covers a 10% range.

For details, refer to Color Code Volume Bars Based on Percentage of POC.

Display Data in Chart Values Window

When this Input is set to Yes, then various values will be displayed in the Tool Values Window for the Volume Profile being pointed to with the Chart Values Tool, and various values will be displayed in the Chart Values Window for the last displayed Volume Profile.

The Tool Values Window is accessed by selecting Window >> Tool Values Window.

The Chart Values Window is accessed by selecting Window >> Chart Values Window.

Show Chart Values On Profile

This setting controls the text data that is displayed above or below the Volume Profiles and text labels displayed before each value to denote what each value represents.

Chart Values Position on Profile

This setting controls the position of the text data that is displayed in the Volume Profiles.

Text Font Size

This Input setting is used to set the font size for text values that are displayed when the Show Chart Values On Profile Input is set to a value other than Do Not Show Chart Values on Profile and there are selected values in at least one of the Chart Value to be Displayed on Profile Inputs.

Chart Value# (1-4) To Be Displayed On Profile

These four Input settings are used to select the chart values to be displayed on the profile in the chart.

Use the Show Chart Values On Profile and Chart Values Position On Profile Inputs to select the format and position of the chart value. Up to four separate chart values can be displayed on each profile.

The chart values can also be viewed in the Chart Values Windows.

For complete descriptions of the available values and what they mean, refer to Viewing Volume Profile Text Information.

Calculate Mean Price and Standard Deviation Bands

When this input is set to Yes, the Trade Weighted Mean Price, Mean Price + Std Dev, Mean Price - Std Dev, Mean Price + 2 * Std Dev, and Mean Price - 2 * Std Dev are calculated and displayed in the Chart Values and Tool Values windows.

The colors of this information that is displayed in the Chart Values and Tool Values windows is controlled through the subgraph setting for each item. Refer to Color and Width Settings for more information.

Refer to Chart Values Window for more information on the Chart Values Window.

These can also be displayed on the chart as lines by setting the Draw Styles for these Subgraphs as required and by setting Draw Mode Input to Volume Profiles & POC, VAH, VAL Lines.

Volume Bar Minimum Width in Chart Bars

When this Input setting is set to a non-zero value, the minimum width of each horizontal Volume Bar is set to the specified number of chart bars, allowing very narrow bars to be more visible.

Include Fill Space in Developing Period Width

When this Input setting is set to Yes, the chart right side fill space is included into the Volume Profile period width of a developing period, allowing more space for a developing period to be displayed.

Use Large Number Display Formatting

When this input is set to Yes any number larger than 10,000 is changed to display as the thousands value, notated with a k. For example, the value 12,434 would be displayed as 12.4k.

Volume values under 10,000 remain the same.

Minimum Time Period % for Reference Days Back

This input sets the percentage of a time period that is required for the Number Of Periods Back To Reference to use that period as a valid period. For example, if this input is set to 25% and the time period referenced back is 1 day, then a previous period only needs to contain 6 hours of data to be considered a valid period and included in the calculation.

Volume Profile Bars Length Relative to All Visible Profiles

When this Input is set to Yes, then the width of the volume profile bars is relative to all of the visible Volume Profiles rather than the individual Volume Profile the horizontal volume bar is part of.

This allows you to visually make comparisons as to the amount of volume in a volume bar when looking at all of the profiles.

The Volume by Price study and Numbers Bars study each use independent scaling for their volume bars. In regards to Volume Profile Bars Length Relative to All Visible Profiles each instance of a study always uses independent scaling for this feature. Therefore, what this means is that with a different instance of the Volume by Price study, a volume bar could have a wider width at a price level even if its volume is lower compared to a volume bar from a different instance of the Volume by Price study.

Number of Custom Intraday Sessions

This Input is used to set the number of custom sessions per day for the Volume By Price profile. The maximum custom sessions allowed is 5. The inputs Custom Intraday Session# (1-5) Begin Time and Custom Intraday Session# (1-5) End Time should also be set according to the number set here.

Note that this input is valid only when the Time Period Type for 'Fixed Time' input is set to Days and the Time Period Length for 'Fixed Time' input is set to 1.

Custom Intraday Session# (1-5) Begin Time

This Input sets the begin time for the custom intraday sessions. This Input only applies when Number of Custom Intraday Sessions is set to a value greater than 0.

For example, if the Number of Custom Intraday Sessions is set to 3, there will be 3 intraday sessions for 1 Day and Custom Intraday Session# (1-3) Begin Time will be used as the begin time for the 3 sessions.

If there is an overlap between the Custom Intraday Session# (1-5) End Time of one session and the Custom Intraday Session# (1-5) Begin Time of next session, then the end time of that session will be changed to remove the overlap.

Custom Intraday Session# (1-5) End Time

This Input sets the end time for the custom intraday sessions. This Input only applies when Number of Custom Intraday Sessions is set to a value greater than 0.

For example, if the Number of Custom Intraday Sessions is set to 3, there will be 3 intraday sessions for 1 Day and Custom Intraday Session# (1-3) End Time will be used as the end time for the 3 sessions.

If there is an overlap between the Custom Intraday Session# (1-5) End Time of one session and the Custom Intraday Session# (1-5) Begin Time of next session, then the end time of that session will be changed to remove the overlap.

1 Day Volume Profiles Across Entire Chart

• Number Of Periods Back To Reference: 0.
• Volume Graph Period Type: Multiple Profiles Based on Fixed Time.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 1.
• Number of Days to Calculate: 0.
• Set the Chart Session Times as required.

1 Week Volume Profiles Across Entire Chart

• Number Of Periods Back To Reference: 0.
• Volume Graph Period Type: Multiple Profiles Based on Fixed Time.
• Time Period Type for 'Fixed Time': Weeks.
• Time Period Length for 'Fixed Time': 1.
• Number of Days to Calculate: 0.
• Set the Chart Session Times as required.
• Set Use Monday as Start of Week instead of Sunday in General Settings as required.

1 Day Volume Profiles Across Entire Chart Based on Session Times Different than Chart

• Number Of Periods Back To Reference: 0.
• Volume Graph Period Type: Multiple Profiles from Start Time to End Time.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 1.
• Start Time: Start time for volume profiles.
• End Time: Start time for volume profiles.

1 Day Volume Profile At End of Chart

• Number Of Periods Back To Reference: 0.
• Volume Graph Period Type: One Period at End of Fixed Time Length.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 1.
• Set the Chart Session Times as required.

1 Day Volume Profiles Showing Prior Day

• Number Of Periods Back To Reference: 1.
• Volume Graph Period Type: Multiple Profiles Based on Fixed Time.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 1.
• Number of Days To Calculate Volume Profiles: 1.
• Minimum Time Period % for Reference Days Back: 50.
• Set the Chart Session Times as required.

Note that these settings assume that the prior day has at least 50% of the data for the day. If the prior day does not have data for at least 50% of the time, then the calculation will go back to the next day and check if it has enough data, and so on until a day is found that has the necessary amount of data.

Current Month Volume Profile at End of Chart

• Number Of Periods Back To Reference: 0.
• Volume Graph Period Type: One Period at End of Fixed Time Length.
• Time Period Type for 'Fixed Time': Months.
• Time Period Length for 'Fixed Time': 1.

1 Hour Volume Profile At End of Chart

• Number Of Periods Back To Reference: 0.
• Volume Graph Period Type: One Period at End of Fixed Time Length.
• Time Period Type for 'Fixed Time': Minutes.
• Time Period Length for 'Fixed Time': 60.
• Refer to the Right Aligning Profiles with Space on Right Side instructions to right align the Volume Profile on the right side of the chart.

30 Minute Volume Profile at End of TPO Profile Chart

The following settings assume the chart has a TPO Profile Chart study on it.

These settings are also applicable to time periods other than 30 minutes as well by changing the Time Period Type/Length Inputs appropriately.

• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: One Period From Most Recent Period Start To End or One Period at End of Fixed Time Length.
• Set As Independent Volume Profile for TPO Chart: Yes.
• Time Period Type for 'Fixed Time': Minutes. Or use Days if you want a Volume Profile based on days.
• Time Period Length for 'Fixed Time': 30. Or set this to 1 if you want a 1 Day Volume Profile.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 15.
• Right Aligned Volume Bars: Yes.
• Align to Far Right: Yes.

Most likely you will also want to add space to the right side of the chart so that the Volume Profile does not overlap last TPO Profile. For instructions, refer to Right Side Fill Space.

One Volume Profile at End for Day Session

• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: One Period from Start Time to End Time.
• Start Time: 09:30:00.
• End Time: 17:59:59.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 10.
• Right Align Volume Bars: Yes.
• Allow Side-By-Side Profiles on Right: Yes.
• Align to Far Right: Yes.
• Bid Volume and Ask Volume Coloring Method: None.

Set the Start Time and End Time Inputs to appropriate values for the specific Day trading session.

If this Day Session Volume by Price study is going to be used in conjunction with an Evening Session Volume by Price study, then select the Subgraphs tab on the Study Settings window for the Volume by Price study and select the Volume Bars Outline and Fill Colors Subgraph and change the colors as desired to differentiate these volume bars from the Evening Session volume bars.

In order to not overlap the display of the Volume by Price profile with the chart bars, add space to the right side of the chart so that there is room for the Volume Profile. After this, select the option Chart >> Lock Fill Space. For instructions, refer to Right Side Fill Space.

One Volume Profile at End for Evening Session

• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: One Period from Start Time to End Time.
• Start Time: 18:00:00.
• End Time: 09:29:59.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 10.
• Right Align Volume Bars: Yes.
• Allow Side-By-Side Profiles on Right: Yes.
• Align to Far Right: Yes.
• Bid Volume and Ask Volume Coloring Method: None.

Set the Start Time and End Time to appropriate values for the specific Evening trading session.

If this Evening Session Volume by Price study is going to be used in conjunction with a Day Session Volume by Price study, then select the Subgraphs tab on the Study Settings window for the Volume by Price study and select the Volume Bars Outline and Fill Colors Subgraph and change the colors as desired to differentiate these volume bars from the Day Session volume bars.

In order to not overlap the display of the Volume by Price profile with the chart bars, add space to the right side of the chart so that there is room for the Volume Profile. After this, select the option Chart >> Lock Fill Space. For instructions, refer to Right Side Fill Space.

One Volume Profile at End Covering 3/Three Days

The following settings will display a Volume by Price profile on the right side of the screen taking up 20% of the total window space, covering the current day along with the previous 2 days for a total of 3 days.

• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: One Period at End of Fixed Time Length - Auto-Skip Empty Days.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 3. Can be any other number of days as well.
• Right Align Volume Bars: Yes.
• Align to Far Right: Yes.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 20.
• Allow Side By Side Profiles on Right Side: Yes.

One Volume Profile at End Covering 20 Days Using 1 Day Per Bar Chart

The following settings will display a Volume by Price profile on the right side of the screen taking up 20% of the total window space, covering the last 20 days in the chart. The chart bars are set to one day per bar.

• Chart Setting: Bar Period Type: Days-Minutes-Seconds-Milliseconds Per Bar.
• Chart Setting: Bar Period Value: 1-0-0.
• Intraday Chart Session Times: Set as required.
• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: One Period Based on Bar Count.
• Number of Bars for 'Based On Bar Count': 20.
• Right Align Volume Bars: Yes.
• Align to Far Right: Yes.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 20.
• Allow Side By Side Profiles on Right Side: Yes.

One Volume Profile per Chart Bar

The following settings will display one Volume by Price profile for each bar in the chart.

Since this configuration will take a longer than usual time to calculate it is recommended to reduce the Days to Load setting in Chart >> Chart Settings to 2 days.

• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: Multiple Profiles Based on Bar Count.
• Number of Bars for 'Based on Bar Count': 1.
• Maximum Volume Bar Width Type: Period Length.
• Maximum Volume Bar Width Percentage: 80.

One Volume Profile for Multiple Bars

The following settings will display one Volume by Price profile for the data in the most recent 9 bars in the chart, and will highlight the Point of Control for the profile.

• Volume Graph Period Type: Multiple Profiles Based on Bar Count.
• Number of Bars for 'Based on Bar Count': 9.
• Highlight Point of Control: Yes.

Outline Only with Volume

The following Input settings need to be set as shown to display volume bars which are not filled in and show the volume at each price level. These Input settings can be used with any other Volume by Price configuration.

• Display Volume in Bars: Total Volume.
• Volume Bars Draw Method: Volume Profile Outline Only.

20 Day Point of Control at End of Chart Based on 24 Hour Session

The following Volume by Price Input settings and Chart Settings need to be set as shown to display a single volume profile at the end of the chart based on 20 days, full trading session, which shows the point of control value.

• Draw Mode: Volume Profiles & POC, VAH, VAL, VWAP Lines.
• Ticks Per Volume Bar: 1.
• Volume Graph Period Type: One Period at End of Fixed Time Length.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 20.
• Right Align Volume Bars: Yes.
• Align to Far Right: Yes.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 20.
• Calculate Developing POC and Value Area: Yes.
• Chart >> Chart Settings >> Session Times >> Use Evening Session: Yes.

1 Day Total Volume with Bid Ask Delta on Right

The following Volume by Price Input Settings will display a Total Volume profile with blue bars (by default) with the Bid/Ask Difference (Delta) displayed above the total volume. The profile is right-aligned to the right side of the graphics area

• Volume Graph Period Type: One Period at End of Fixed Time Length.
• Time Period Type for 'Fixed Time': Days.
• Time Period Length for 'Fixed Time': 1.
• Right Align Volume Bars: Yes.
• Align to Far Right: Yes.
• Maximum Volume Bar Width Type: Window Width.
• Maximum Volume Bar Width Percentage: 50 (set this as desired).
• Volume Bar Calculation Method: Total Volume.
• Bid Volume and Ask Volume Coloring Method: Difference of Bid Ask Volume Coloring.

The following Inputs allow for the Difference of Bid Ask Volume Coloring to be extended out, since these bars can be small and not easily discernible in relation to the Total Volume. Set Draw Difference of Bid and Ask Volume Using Percent of Max Bar to Yes in order to define the percentage of the maximum bar to use. The specific percentage to use is a personal choice.

• Draw Difference of Bid and Ask Volume Using Percent of Max Bar: Yes
• Difference of Bid and Ask Volume Coloring Percentage of Maximum Bar: 100 (set this as desired).

Point of Control (SG2)

When you have set the Highlight Point of Control Input setting to Yes, then this Subgraph Color setting controls the color of the volume bar which is at the Point of Control. All other Subgraphs settings are not relevant for this particular Subgraph in this case.

When you have set the Extend Point of Control Input setting to other than None or have the VAH, VAL, POC, and VWAP Lines displayed, then this Subgraph is used to control the Color, Line Style, and Width of the Point of Control line in this case.

The Name Label and Value Label Subgraph settings also apply in this case.

Value Area High Value (SG3)

This Subgraph contains the Value Area High data for each Volume Profile for each bar in the chart. This Subgraph is only visible on the chart and the Color, Line Style and Width settings only apply when the Draw ModeInput is set to include the VAH, VAL, POC Lines.

Otherwise, it has no effect and would only be used for ACSIL to access the data and to have the Value Area High and Low values displayed in the Chart Values windows.

When extending the Value Area through the Extend Value Area Input, the colors of the extension lines and enabling of the Name and Value Labels is done through the Value Area and Outline Subgraph instead.

Value Area Low Value (SG4)

This Subgraph contains the Value Area Low data for each Volume Profile for each bar in the chart. This Subgraph is only visible on the chart and the Color, Line Style and Width settings only apply when the Draw Mode Input is set to include the VAH, VAL, POC, and VWAP Lines.

Otherwise, it has no effect and would only be used for ACSIL to access the data and to have the Value Area High and Low values displayed in the Chart Values windows.

When extending the Value Area through the Extend Value Area Input, the colors of the extension lines and enabling of the Name and Value Labels is done through the Value Area and Outline Subgraph instead.

Volume Weighted Average Price (SG5)

This Subgraph contains the Volume Weighted Average Price for each Volume Profile for each bar in the chart. This Subgraph is only visible on the chart and the Color, Line Style and Width settings only apply when the Draw Mode input is set to include the VAH, VAL, POC, and VWAP Lines or if the option Extend Volume Weighted Average Price is set to any setting other than None. Otherwise, it has no effect and is only used for ACSIL to access the data and to have values displayed in the Chart Values window.

The Color controls the color of the line, the Line Style controls the line style of the line, and the Width setting controls the width of the line. The Name Label and Value Label can also be used to display the Name and Value on the chart.

All other Subgraphs settings are not used for this particular subgraph.

Bid Volume and Ask Volume Colors (SG6)

This Subgraph is for setting the Bid Volume and Ask Volume colors for the AskVolume and BidVolume portion of a bar within a Volume Profile.

The primary Color button sets the BidVolume color. The Secondary Color button sets the AskVolume color.

If the Draw Style setting is set to Ignore then this subgraph is not relevant. All other Subgraph settings are not relevant for this particular subgraph.

Volume Numbers Text Color and Size (SG7)

This Subgraph controls the Colors and Font Size of the volume numbers text displayed in the Volume Profile bars, if you have set the Display Volume in Bars Input setting to a setting other than None.

This Subgraph also controls the Colors of the text displayed outside of the volume bars if you have set the Show Chart Values on Profile Input to a value other than Do Not Show Chart Values on Profile and have selected values to be displayed in the Chart Value n to be Displayed on Profile Inputs. To change the font size for the Chart Values on the profile, use the Text Font Size Input.

The Primary color setting controls the text color when the volume text is positive. The Secondary color setting controls the color when the volume text is negative.

When displaying values that show more than one number, only the Primary color is used to color the text. This includes the volume display options for Ask Volume - Bid Volume, Total Volume, Diagonal Ask Vol Bid Vol Difference, and Diagonal Ask Volume - Bid Volume.

The Size setting sets the Font Size for volume values displayed in the bars. If it is set between 0 and 4, then the font size is automatic and will change as the bar size changes.

To manually set this, requires the use of value of 5 or higher. The size is a standard font point size. A recommended value would be 14 or higher. When set to a value of 5 or greater, the font will always stay the same size as the bar size changes.

If you notice that the volume text numbers are overlapping, then use the Interactive Scale Range feature to reduce the range of displayed prices, so there is greater separation between the volume numbers.

All other Subgraphs settings are not used for this particular Subgraph.

Volume Bars Outline and Fill Colors (SG8)

This Subgraph controls the outline size and color and the fill color of the Volume Profile bars for the primary trading session. The primary color button controls the color of the outline surrounding each profile bar when it is displayed. The secondary color button controls the color of the standard fill color of each profile bar - this is the color that is used when the Bid or Ask Color is not being displayed. The Width/Size setting controls the size of the outline line.

When you have set the Volume Bars Draw Method Input to Volume Profile Outline Only, Hollow Volume Bars, or Hologram then the first color control controls the color of the outline, and the Width setting controls the width of the outline line. Additionally, the Line Style controls the line style of the outline when the Volume Profile Outline Only is selected.

All other Subgraph settings are not relevant for this particular Subgraph.

Value Area and Outline (SG9)

When you have set the Highlight Value Area Input setting to Yes, then this Subgraph Color setting controls the color of the Volume bars which are within the Value Area. The primary color button sets the interior of the Volume Profile bars and the secondary color button sets the outline color. All other Subgraphs settings are not relevant for this particular Subgraph in this case.

When you have set the Extend Value Area Input setting to other than None, then this Subgraph is used to control the Color, Line Style, and Width of the Value Area lines in this case. The color of the Value Area lines is the primary color setting. The Name Label and Value Label Subgraph settings also apply in this case.

Evening Session Volume Bars Outline and Fill Colors (SG11)

This Subgraph controls the outline size and color and the fill color for the Evening Session Volume Profile bars when Use Separate Profile for Evening Session is set to Yes. The primary color button controls the color of the outline surrounding each profile bar when it is displayed. The secondary color button controls the color of the standard fill color of each profile bar - this is the color that is used when the Bid or Ask color is not being displayed. The Width/Size setting controls the size of the outline line.

When you have set the Volume Bars Draw Method Input to Volume Profile Outline Only, the the first color control controls the color of the outline, the Line Style controls the line style of the outline, and the Width setting controls the width of the outline line.

All other Subgraph settings are not relevant for this particular Subgraph.

Trade Weighted Mean Price (SG12)

This Subgraph controls the color of the Trade Weighted Mean Price text displayed in the Chart Values and Tool Values windows when the input option Calculate Mean Price and Standard Deviation Bands is set to Yes.

Select the Color Button to change the color of the text. All other Subgraph settings are not used.

Mean Price + Std Dev (SG13)

This Subgraph controls the color of the Mean Price + Std Dev text displayed in the Chart Values and Tool Values windows when the input option Calculate Mean Price and Standard Deviation Bands is set to Yes.

Select the Color Button to change the color of the text. All other Subgraph settings are not used.

Mean Price - Std Dev (SG14)

This Subgraph controls the color of the Mean Price - Std Dev text displayed in the Chart Values and Tool Values windows when the input option Calculate Mean Price and Standard Deviation Bands is set to Yes.

Select the Color Button to change the color of the text. All other Subgraph settings are not used.

Mean Price + 2 * Std Dev (SG15)

This Subgraph controls the color of the Mean Price + 2 * Std Dev text displayed in the Chart Values and Tool Values windows when the input option Calculate Mean Price and Standard Deviation Bands is set to Yes.

Select the Color Button to change the color of the text. All other Subgraph settings are not used.

Mean Price - 2 * Std Dev (SG16)

This Subgraph controls the color of the Mean Price - 2 * Std Dev text displayed in the Chart Values and Tool Values windows when the input option Calculate Mean Price and Standard Deviation Bands is set to Yes.

Select the Color Button to change the color of the text. All other Subgraph settings are not used.

Volume Profile Enclosing Outline (SG17)

This Subgraph controls the color and line parameters for the Enclosing Outline when the Draw Profile Outline Enclosing Bars is set to Yes.

The primary color button controls the line color, the Line Style controls the line style and the Width controls the width of the Enclosing Outline. The secondary color button and other parameters for this Subgraph are not used.

If the Width is set to a value other than 1, then the Enclosing Line is changed to a Solid line and changes to the Line Style option are ignored.

Volume Peaks (SG18)

This Subgraph controls the color and line parameters for the Volume Peaks Lines when the Draw Peaks and Valleys option is set to either Both Peaks and Valleys or Peaks Only.

The color button controls the color, the Line Style controls the style and the Width controls the width of the Peaks Lines.

The Value Label also be enabled to display the Peaks values on the chart. The other parameters for this Subgraph are not used.

Volume Valleys (SG19)

This Subgraph controls the color and line parameters for the Volume Valleys Lines when the Draw Peaks and Valleys option is set to either Both Peaks and Valleys or Valleys Only.

The color button controls the color, the Line Style controls the style and the Width controls the width of the Valleys Lines.

The Value Label also be enabled to display the Valleys values on the chart. The other parameters for this Subgraph are not used.

Right Aligning Multiple Profiles

When the Volume Graph Period Type Input is set to a value that includes Multiple profiles and you want to have the last displayed Volume Profile aligned to the far right side, then follow these instructions:

1. Open the Study Settings window for the Volume by Price study and go to the Settings and Inputs tab. Refer to the Volume by Price Input Settings section for instructions.
2. Set the Right Align Volume Bars study Input setting to Yes.
3. Set the Align to Far Right study Input setting to Yes.
4. Set the Always Display Last Profile in View study Input setting to Yes.
5. If you want multiple Volume Profiles aligned to the right side, then set Allow Side By Side Profiles on Right Side to Yes to prevent them from overlapping each other.
6. Press OK.

Creating Space on Right Side of Chart

Follow the instructions below to create space on the right side of the chart so the Volume Profile which is aligned to the far right does not overlap any chart bars.

1. To create space between the last bar in the chart and the right side of the chart, you need to use the Right Side Fill Space
2. Basically, you need to scroll the chart past the right side and then lock the fill space with Chart >> Lock Fill Space.
3. To reduce the width of the Volume Profile and maintain a fixed width, open the Study Settings window for the Volume by Price study and go to the Settings and Inputs tab. Refer to the Volume by Price Input Settings section for instructions.
4. Set the Maximum Volume Bar Width Type study Input setting to Window Width.
5. Set the Maximum Volume Bar Width Percentage study Input setting to the percentage that you require. You will probably want to set this to something small like 25.
6. Press OK.
7. Press OK.

Algorithm to Minimize CPU and Memory Use

When constructing the Volume at Price data while the chart data is loading, in the case of a Historical Daily chart or an Intraday chart with more than 100,000 bars in the chart, if there are more than 500 price levels in a chart bar, then the Volume at Price Multiplier for that bar will be internally increased to a higher increment to minimize the amount of processing and memory use.

Unless the number of prices per chart bar exceeds 4000, the Volume At Price Multiplier will be increased only to 2.

The result of this algorithm will be missing price levels in the Volume Profiles displayed on the chart. The volume from these missing levels have been combined with nearby price levels.

Understand that this is necessary functionality to prevent excessive CPU and memory use which can occur with wide ranges of prices in chart bars.

Description

This drawing tool allows you to interactively insert a Volume by Price study for the highlighted time range.

In the case where you want Volume Profiles to repeat on the chart and have a specific time length per Volume Profile, you will need to directly add the Volume by Price study to the chart through Analysis >> Studies. In this particular case, refer to the Step By Step Instructions on this page.

In this case, do not use the Draw Volume Profile tool. This tool has a special application and that is to interactively apply a Volume by Price study that covers a very specific Date-Time range.

It needs to be understood, that when drawing a Volume Profile interactively, you are controlling the starting Date-Time and the Ending Date-Time for the Volume Profile interactively. You are not controlling the High to Low range. That is completely dependent on the chart bars contained within the time range.

Tool Usage

1. You will need to be on Sierra Chart service package 5 to use this feature. To change your Sierra Chart service package, select Help >> Account Control Panel on the menu. Click on the Set Service Package For Renewal link on the displayed webpage and follow the instructions to set the Usage Time Service Package to 5 (Advanced). After you change your service package, you will need to restart Sierra Chart.
2. To select this tool, select Tools >> Draw Volume Profile on the menu. For other methods to select this particular Drawing Tool, refer to Selecting Tools.
3. Left click on the chart with your Pointer at the bar where you want the Volume Profile to begin at. The Date-Time of that bar will be the starting time of the Volume Profile or the ending time if the second point is to the left of the first point.
4. Move the Pointer to where you want the Volume Profile to end at. As you move the Pointer around the chart, you will notice an enclosing rectangle being drawn indicating the bounds of the Volume Profile to be inserted. Left click the Pointer again to set the ending Date-Time of the Volume Profile. In a chart you can use the Right Side Fill Space and click at a point to end the Volume Profile in this fill space. The right side fill space is also known as the forward projection area. As new bars are added to the chart, they will be included in the Volume Profile that you drew if it ends in the forward projection area.
5. A Volume by Price study will be inserted that will cover the range between the two selected Date-Times.
   
   If the required Volume at Price data is not already loaded in the chart, the chart will be reloaded with that data.
6. The images below show the enclosing rectangle while drawing a Volume Profile and inserted Volume by Price study.

Step by Step Instructions to Configure the Draw Volume Profile Tool

The study Input settings for the inserted Volume by Price study drawn with the Draw Volume Profile tool, can be preconfigured. Follow the instructions below.

1. The very first step is to define a Study Collection which will be applied when the Draw Volume Profile tool is used.
2. Select Analysis >> Studies.
3. In the Studies to Graph list, select the Volume by Price study.
4. Press the Add button.
5. Press the Settings button.
6. On the Settings and Inputs tab set the Inputs as required. Refer to Volume by Price Input Settings.
7. The Volume Graph Period Type Input with the Volume by Price needs to be set to one of the following:
   • From Start Date-Time to End Date-Time
   • From Start Date-Time To End
   It is recommended to use From Start Date-Time to End Date-Time.
   
   The Volume Graph Period Type Input with the Volume by Price study is limited to be either From Start Date-Time to End Date-Time or From Start Date-Time To End.
8. For the purpose of the configuration, the Start Date, Start Time, End Date, and End Time Inputs are all overridden with the values from the drawn Volume Profile.
   
   So these do not need to be set. All other Input settings are taken as you have set them and will be saved in the Study Collection referenced by the Draw Volume Profile Tool configuration.
9. Select the Subgraphs tab and set the Colors and Styles as required. Refer to Color and Width Settings.
10. Press OK.
11. In the Save Studies As Study Collection >> Name box, type a name to give the Volume by Price configuration.
12. Press the Save Single button and confirm.
13. Press OK.
14. Select Global Settings >> Tool Configs >> Draw Volume Profile.
15. Select one of the Load >> TC1-TC24 configurations to save the configuration being defined as that particular number.
16. Select the name that you saved the Study Collection as above, in the Chart Study Collections list.
    
    If a valid Study Collection is specified, then the first Volume by Price study found in the Study Collection is used to set the settings of the inserted Volume by Price study.
17. Press OK. The configuration is now done at this point.
18. Select Tools >> Draw Volume Profile on the menu.
19. Select Tools >> Current Tool Config >> Config 1. The particular number you need to select will correspond to the TC1-TC24 configuration that you selected above.
20. Alternatively, instead of the prior two steps, you can configure a Control Bar button to select the Draw Volume Profile tool and a particular Tool Configuration number in a single step.
    
    For instructions, refer to Creating Control Bar Buttons which Select Drawing Tool and Drawing Tool Configuration in One Step.
21. Proceed to draw the Volume Profile as explained in the Tool Usage section.
22. For the full documentation for the Volume by Price study, refer to Introduction on this page.

Manually Drawn Volume Profiles That Automatically Extend to the Last Bar

To have a manually drawn Volume Profile drawn with the Draw Volume Profile drawing tool, automatically extend to the end, follow the below instructions.

1. Add the Volume by Price study to the chart and open the Study Settings window for it. Refer to Adding/Modifying Study Settings for instructions.
2. Set the Volume Graph Period Type Input to From Start Date Time to End.
3. Set the Ticks per Volume Bar input to 1.
4. Press OK.
5. In the Save Studies As Study Collection >> Name box, type a descriptive name for the Volume by Price study configuration that you will use.
6. Press the Save Single button.
7. Press OK.
8. Select Global Settings >> Tool Configs >> Draw Volume Profile.
9. Select the TC# 1-24 configuration that you want to set. For more information, refer to Drawing Tool Configuration.
10. In the Chart Study Collection list box, select the name of the Study Collection you saved above.
11. Press OK.
12. Select Tools >> Draw Volume Profile on the menu.
13. Select Tools >> Current Tool Config >> Config #. Choose configuration 1-24 depending upon which Tool Configuration (TC#) you set above.
14. Alternatively, instead of the prior two steps, you can configure a Control Bar button to select the Draw Volume Profile tool and a particular Tool Configuration number in a single step. For instructions, refer to Creating Control Bar Buttons which Select Drawing Tool and Drawing Tool Configuration in One Step.
15. Follow the Tool Usage instructions above.

Modifying Manually Drawn Volume Profile

An existing manually drawn Volume Profile can be modified. The beginning or ending Date-Time can be changed. As you modify a manually drawn Volume Profile, you will see the changes to the profile immediately displayed. Follow the below procedure to do this.

There are some unusual cases where a manually drawn Volume Profile will no longer be able to be interactively modified directly on the chart because the associated Chart Drawing for it has been lost. One scenario where this occurs is if you are modifying a Volume Profile drawing on the chart but do not finalize the modification and then close the Chartbook and save it. In this case the associated Chart Drawing will be lost preventing further modifications in this way.

1. Enable the Global Settings >> Tool Settings >> Enable Drawn Volume Profiles Selection option. Press OK.
2. Depending upon whether the Right Align Volume Bars study Input is set to Yes or No, the left edge or right edge of the Volume Profile may not be apparent as to its specific Date-Time location. To make it clear where the edges are which is necessary to easily adjust one side of the Volume Profile, it is recommended to set the Draw Profile Outlining Enclosing Bars Input for the Volume by Price study instance to Yes.
3. Select Tools >> Pointer or Chart Values.
4. Left click at or close to the base of the Volume Profile or on the opposite side of the base of the Volume Profile. The base will be on the left side, if Right Align Volume Bars is set to No. This will then cause the selection enclosing outline to be drawn. This is a different outline than is drawn by the Draw Profile Outlining Enclosing Bars Input. It is necessary to get this selection outline as the first step to start the process of adjusting the Volume Profile.
5. Once you can see the selection enclosing outline around the Volume Profile, then left click on the left side of the outline to adjust the left side of the Volume Profile, or on the right side of the outline to adjust the right side of the Volume Profile.
6. As you move the Pointer left or right, the Volume Profile will adjust itself. Left click again to set the edge into the new location.

Erasing Drawn Volume Profiles

There are multiple ways to remove the Volume by Price study that has been inserted by using this tool.

1. Select Analysis >> Studies on the menu. Select the particular Volume by Price study in the Studies to Graph list. You can identify it by the displayed Date-Time range. Press the Remove button. Press OK to save the changes.
2. Right-click with your Pointer along the top Region Data Line of the chart. This is not the title bar, but rather where you see the symbol and chart values displayed at the top of the chart window. Select Remove from the displayed menu. Select a specific Volume by Price (VbP) study you want to remove from the menu list. You can identify it by the displayed Date-Time range.
3. Erase the Volume Profile Chart Drawing. Refer to Erasing Chart Drawings section. All of those methods also apply to erasing Volume Profile Chart Drawings.

Draw Volume Profile Tool Related Settings

The following are global settings for Volume Profiles which are drawn with the Draw Volume Profile tool. These are set through Global Settings >> Tool Settings.

• Enable Drawn Volume Profile Selection: When this option is enabled, then this allows Volume Profiles which have been drawn with the Tools >> Draw Volume Profile drawing tool to be selected on the chart in the same way as any other Chart Drawing can be. The Volume Profiles can be erased, adjusted, or moved.
• Select Drawn Volume Profile by Outline Only: When this option is enabled, then a drawn Volume Profile in a chart can only be selected by the boundary near its outline rectangle. This makes it less likely to be able to be accidentally selected.

Drawing Tool Configuration

To set a default configuration for the Draw Volume Profile tool, refer to Step by Step Instructions to Configure the Draw Volume Profile Tool.

Volume At Price Data

When developing custom studies/indicators or trading systems in Sierra Chart, the Volume at Price data for each bar at each price level can be accessed programmatically.

When using the Advanced Custom Study Interface and Language (ACSIL), use the sc.VolumeAtPriceForBars ACSIL interface structure member to access the Total Volume, Bid Volume, Ask Volume, and Number of Trades data at each price level for each chart bar.

When using one of the Spreadsheet studies, set the Output Volume at Price Data Input to Yes to output this data to a Spreadsheet.

Accessing Volume by Price Calculated Values

There are numerous values that are calculated for Volume Profiles which can be displayed through the Chart Values Windows. For more information, refer to Viewing Volume Profile Text Information.

There is not programmatic access to any of these values other than the Value Area High (Subgraph 3 / SG3) and Value Area Low (Subgraph 4 / SG4) and Point of Control (Subgraph 2 / SG2) values.

However, these Subgraphs are not set by the Volume by Price study when the study is used on a TPO Profile Chart unless the Set as Independent Volume Profile for TPO Chart Input is set to Yes.

The way to programmatically access these values when using ACSIL, is to reference the Volume by Price Study Subgraphs which contain those values. Refer to Using or Referencing Study/Indicator Data in an ACSIL Function.

When using the Draw Volume Profile tool, this will insert an instance of the Volume by Price study on the chart. This instance of the study can be referenced by using the Using or Referencing Study/Indicator Data in an ACSIL Function documented method. In this way you can access the study's Subgraphs for the Value Area High/Low and Point of Control values.

The Value Area High/Low and Point of Control values can also be accessed using the Spreadsheet Study. When the Volume by Price study is on a chart, the Sheet columns containing these Subgraphs will be outputted beginning at column AA or after.

The Value Area High/Low and Point of Control values can also be accessed using Simple Alerts on studies and charts. Refer to Study/Chart Alerts And Scanning. Value Area High is SG3, Value Area Low is SG4 and Point of Control is SG2.

Accessing Peak and Valley Lines Data

It is supported in ACSIL to access the Peak and Valley lines data. The function for this is sc.GetStudyPeakValleyLine.

Historical Market Depth Data

Somewhat related to this, is the ability to access historical market depth data. For more information, refer to c_ACSILDepthBars.