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FreeIndicators·ThinkorSwim

Volume Profile

Volume-by-price shelves. POC and value area mark the levels that matter.

How to install in ThinkorSwim

  1. In ThinkorSwim, open a chart, then go to Studies → Edit Studies.
  2. Click Create, clear the editor, and paste the code.
  3. Name it, click Apply, then OK, and it draws on your chart.

How to Use — WTP_VolumeProfile

Where did the real volume trade? Those shelves are your strikes. Educational, not advice.

What it is (one line)

Volume-by-price over the visible range. The POC (Point of Control) and Value Area High/Low mark the price shelves where the most volume actually traded — the most reliable support zones for picking a CSP strike you'd be happy to be assigned at.

Who it's for & best timeframe

Trader typeHow you use itBest timeframe
Premium seller (CSP)Sell puts at/just below a POC or VAL shelfDaily (visible range = a few months)
Day traderFade/hold at POC; watch VAH/VAL as intraday magnets5-min – 15-min
Swing traderBuy pullbacks into VAL/POC in an uptrendDaily

What you see (overlay)

  • Yellow line (POC) — the single price with the most traded volume (strongest shelf).
  • Gray dashed VAH / VAL — top/bottom of the 70% value area.
  • Shaded histogram — volume at each price (fatter = more traded).
  • Label: POC / VAH / VAL values.

How to use it (the CSP play)

  1. Load it on the daily with the visible range set to the last few months.
  2. Find the POC and VAL — these are the price shelves buyers defended.
  3. Sell the put at or just below a shelf you'd happily own the stock at.
  4. If price is well above all shelves (extended), wait for a pullback into value.

Settings

  • valueAreaPercent (70) — % of volume inside the value area. Standard is 70.
  • opacity (30) — histogram shading.

Notes / common mistakes

  • The profile is visible-range — zoom/scroll changes POC/VAH/VAL. Set your range deliberately.
  • Don't pick a strike in thin air (a low-volume gap); pick it at a shelf.

Video script outline

  1. Hook: "Stop guessing strikes — trade where the volume actually is."
  2. Show POC/VAH/VAL on a daily.
  3. Sell the put at a shelf you'd own the stock at.
  4. Extended = wait for the pullback into value.
  5. Recap + import link.

Educational analysis, not financial advice.

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