This indicator helps determine at what price levels stocks or futures were most traded. These levels often become support and resistance. The program determines the highest and lowest prices on the price chart. Then the entire price range is divided into an equal number of intervals. For each of these interval, the sum of trading volumes for the entire history or the selected time period is calculated. If a candle covers several price intervals, then the trading volume of the candle is distributed proportionally between these price intervals. The trading volume or trading activity for each price interval is displayed by a green dot in Fig. 8.1.
The greater the trading volume in a given price interval, the farther the point lies to the left.
Two values can be changed in the indicator - the start date of the calculation and the number of price intervals. In our case, the start date of the calculation is January 3, 2019. The upper and lower chart in Fig. 8.1 correspond to 20 and 10 price intervals, respectively.