Reading 4: the volume profile and the morning levels

The profile flips the view: instead of volume over time, volume per price. It brings out the POC (the most traded price), the value area (the zone holding 70% of the volume, bounded by the VAH and the VAL), the HVNs (high volume nodes) and the LVNs (low volume nodes). These are the prices where the market accepted or refused to trade, and therefore half of the course's levels.

The levels to draw every morning

Before 2:30 pm, in ten minutes, on the structure window:

1. Yesterday's high, low and settlement (the gap is measured against settlement, not the 10 pm close).
2. Yesterday's VAH, VAL and POC, in RTH.
3. The naked POCs of the last five sessions.
4. The ten to fifteen-day composite POC, and the two LVNs closest to price.
5. The overnight high and low (since midnight).
6. The previous week's weekly close (W-1 C) and the week's high and low.
7. The day's VWAP, which builds itself.