DAY LVN and POC Zones

Description

The indicator uses market profile theory to show the most relevant trading zones, on a daily basis. The zones to be shown are LVN (low volume nodes) and POC (point of control).

• An LVN zone is one which represents price areas with the least time or volume throughout the day. Typically, these areas indicate a supply or demand initiative, and in the future, they can turn into important breakout or retracement zones.
• A POC zone is one which represents price areas with the most time or volume throughout the day.

How is this indicator useful?

• It will allow you to have a reference of the most important trading zones for the current day, as well as those prior to it.
• It will allow you to trade retracement or breakout patterns, everytime they occur in a given zone.
• You’ll be able to use virgin levels of previous days’ LVN or POC, to identify potential resistance or support levels. Be mindful that you can use these levels as take profit zones.
• For more uses research market profile theory.

Components

For each day, the indicator will show within a given price chart and under any timeframe, the following components:

• Horizontal black lines: These represent LVN zones.
• Horizontal yellow lines: These represent POC zones.
• Horizontal dotted lines (black/yellow): These represent virgin levels. A virgin level is one which hasn’t been filled on any future period.

Suggested indicators

CEF Market Profile Day LVNs is designed to work and complement its signals with following indicators:

General Indicators

• Selecting best currencies to trade (CEF Spread Currencies Spread)

Trend Indicators

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