All language subtitles for 3. Visible range profile or Composite
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And now we come to the last type of
profile, the profile known as composite,
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which can be configured in two ways,
fixed and variable.
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The fixed form can be found in
TradingView as the anchored volume
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To access it, we simply go to the side
menu on the left and select the item
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Forecast and Measurement Tools.
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Then the drop -down menu appears and we
can find this tool at the bottom.
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There is no general rule as to how much
time the composite profile should cover.
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You may want to consider the last week,
the current week, the last month, or the
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current month, or the current year.
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This is necessarily a judgment call.
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There is no one profile that is better
than another, so it is up to the trader
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to decide which one to work with.
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It is recommended that these profiles
cover enough price action both above and
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below the current price to be able to
identify key trading areas, primarily
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and low volume nodes.
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What we need to do, is to manually
select the start date, which is always
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and automatically select the current
time as the end date, so that the
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is updated with each new bar that is
generated.
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This is not a very common type of
profile, and those that are usually
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profile to fixed time periods such as a
week, a month, or the current year.
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The profile in this example is anchored
to the beginning of the current year.
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As we can see, it shows us the areas of
acceptance and rejection of all activity
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generated in that time period.
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I don't find this very useful, because
from an objective point of view, why is
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the negotiation that happened before the
beginning of this period not relevant?
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A month before, a week before, and even
a day before, just because they are not
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included in this period, are they no
longer relevant?
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From my point of view, this does not
make much sense, and I prefer to use
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types of profiles.
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and the variable form of this type of
composite profile is identified in
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View as the Visible Range Volume
Profile.
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The variable mode has an important
peculiarity. It shows the traded volume
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all price levels currently on the chart.
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It is important to take this into
account because if you move the chart,
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profile will change.
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To add to it, click on the Indicators
tab in the top menu. Type the name of
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indicator in the search engine, which is
Visible Range Volume Profile, and click
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on it to add it to the chart.
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This type of profile shows the volume
distribution according to the price
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of all the price action available on the
chart.
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For example, the profile of this chart
corresponds to all the price action we
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are observing, from the extreme left to
the current extreme right.
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This means that if we move the chart, if
we zoom in or out, the profile will
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also change.
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The profile is always recalculated and
adapted to what we are observing at that
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moment.
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This is the same chart and time frame as
the previous one, except that we have
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zoomed in and included more price
action.
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If you notice, the highlighted box
represents the chart from the previous
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And because we have zoomed in, the
profile is changed to accommodate all
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trades that are included.
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It's very simple and intuitive to
understand.
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I recommend that you do some tests
yourself to get a better understanding.
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The advantage of this type of profile is
that it is very dynamic and allows us
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to see the most important trading areas
at a glance without having to start a
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profile manually.
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The best use of this type of profile,
regardless of the time frame in which we
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are trading, is to analyze the overall
context, determine the market bias, and
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identify the trading zones we have both
above and below the current price.
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It is especially useful in long -term
analysis where a large number of bars
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being observed.
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as is the case in this chart.
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Given the current position of the price,
if it starts a new upward impulse, it
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will most likely go to the high volume
node that we can identify at the top.
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Thanks to this type of profile, we can
very quickly identify these types of
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zones in a longer term context.
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Similarly, if a distribution is
generated that causes the price to fall,
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most likely go to visit the most
immediate node that is below the current
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and so on.
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the price could move up and down between
different value zones.
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This would be an example of using this
type of profile.
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Another use could be to identify a large
low volume node and favor it to develop
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a false breakout or trap type behavior
that could set up a trading opportunity.
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Let's say we are currently on this
chart.
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Since we have identified a low volume
node just below the last lateralization,
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We could set up the scenario of waiting
for a move towards this area and in case
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it is violently rejected, as we have
seen that can happen when the price
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interacts with the rejection zones.
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It would be interesting to assess the
possibility of generating an imbalance
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being able to enter the market.
7557
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