Volume Profile Right

📌 The Volume Profile Lite visualizes buy and sell volume by price range within a selected period, displayed as horizontal bars on the right side of the chart. This allows traders to understand the distribution of trading volume and the intensity of participation.



■ Calculation Logic
1. Price Binning System

The indicator divides the highest-to-lowest price range into user-defined boxes, detects candle volume entering each range, and allocates it based on buy/sell conditions.

2. Distinct Buy/Sell Volume Separation

Buy Volume = close ≥ open, Sell Volume = close < open, allowing each price range to independently accumulate buy and sell volume.

3. Dual-Side Volume Profile Construction

Each range compares its volume to the global max, then calculates:
buyBoxWidth = (buyVol / maxVol) * profileWidth,
sellBoxWidth = (sellVol / maxVol) * profileWidth,
creating a balanced left-side buy profile and right-side sell profile.

4. Text-Enhanced Visual Boxes



Each range displays background color, border, average price, K-scaled volume text, adjustable transparency, and alignment for more intuitive volume distribution analysis.

■ User Inputs (Accurate, Non-Exaggerated Descriptions)

Analysis Period (lookback): Controls how many historical bars are analyzed.
Number of Price Ranges (boxes): Defines how finely the price span is segmented.
Profile Width: Sets maximum horizontal width of the profile.
Box Height: Adjusts the vertical thickness of each volume box.
Font Size: Controls text size for displayed volumes.
Transparency: Adjusts box background opacity.
Buy/Sell Color Groups: Sets background and border colors for buy and sell boxes.
Background Color Settings: Adjusts global chart background and profile readability.




■ Repaint Behavior

The indicator analyzes only completed bars within the lookback period, uses no future data, and does not modify historical values; therefore, it does not repaint.
Real-time updates occur only because calculations execute on the latest bar via barstate.islast, which is normal behavior.

■ Purpose

Designed to reveal relative buy/sell volume distribution by price, highlight zones of concentrated participation, detect volume imbalances, and provide structural context for potential support/resistance—not to predict price or generate signals.




■ Notes

Box width reflects relative—not absolute—volume; buy/sell classification uses open/close comparison and may not perfectly represent order-flow nature; best used alongside other tools for complete analysis.