Saw this in a OneNote
that contained a lounge archive from Wednesday, Sept. 26, 2018:
18:40 MetalMind: time period is any bars but say 1-min starting at 9:30 and moving with time
18:40 MetalMind: not moving, "expanding"
18:45 MetalMind: Tb8: what you always see is the last vol profile at the end of the segment. the "developing" here is for seeing the history of
18:58 Mobius: At any rate, all that is of no consequence since we have no array function in ThinkScript so can't code a custom Volume Profile even if we were so inclined.
18:59 MetalMind: Mobius: that's what i wanted to know, so from your experience you believe that I'm hitting a limit with thinkscript cababilities?
19:00 MetalMind: by the way, the way it's calculated is mentioned here in CALCULATION, and it's not standard deviation https://www.tradingview.com/wiki/Volume_Profile
19:01 MetalMind: so calculating it from scratch instead of using the existing VolumeProfile() build in function doesn't seem like a viable option for me.
19:04 Mobius: POC is the point of control. It moves all day until the highest volume node is found. TOS developers decided to plot that across the whole volume area instead of as a moving line. That may be something that could be added to with a recursive function to track it. But it seems a lot of work to test an idea to me.
19:05 Mobius: There's no standard deviation involved in Volume Profile. It's a simple array of all active price levels against the volume at that level. A pure spreadseet or as it's know in programming an array
19:07 Nube: Mobius, I've tried to track it. Doesn't work, seem to work same way as the All() functions
19:07 Mobius: Ah.. If you can't do it, it can't be done
19:08 MetalMind: Mobius: is there a way to create a new volume profile with each bar when using plot?
19:08 Tb8: I have been told it cannot be done, but Mobius is known for making an impossible possible, so I asked just in case
19:08 Mobius: metal... sure
19:08 MetalMind: my understanding is that when using "profile vol = ..." in a script is that it's calucated once, not with each bar.
19:08 Nube: I think I might know someone who's better with ThinkScript than I am
19:09 MetalMind: Mobius: should i use "script" for that or in the regular script flow?
19:10 Mobius: Metal.. That won't give you what you want. Each New Volume Profile would be stand alone with no way to accumulate past nodes
19:13 MetalMind: Mobius: if i can create a volume profile with each bar consisting of 2 or more segments, segment 2 always starts at the same fixed point but ends at an increasing duration, i'd be able to get the values i want one by one at each bar
19:13 Tb8: Apparently, it has something to do with not being able to pick a bar from the session because the profile always returns the last bar of the day's profile, so it seems that there is no way to store the last state of POC in a poor man's array. This is what I have been told, don't know if this is really the case.
19:14 Mobius: Metal... no you wouldn't.. First it's not volume at a bar it's volume at a price. Second you'd need an array of every price point in a period. That can't be done in TOS
19:18 MetalMind: Mobius: what i meant to use the bar to end the segment there and then get the corresponding values, same with the next bar, and so on
19:18 Mobius: Metal.. Sorry I see code. You see what you want. I see your not going to get it. You see the next wrong assumption
19:20 MetalMind: Mobius: that what I wanted to confirm from you, if it's doable or not to avoid wating time. thank you.
19:21 Mobius: Metal.. yw
19:21 MetalMind: Mobius: for my find trial, if i want to create a new vol profile with each bar, should i use "script"?
19:22 MetalMind: *final trial
19:23 Mobius: No you'd use the study I posted in MyTrade that plots volume profile or TPO at UI time segemts and change the segment to a time matching the bar time
This was an image that was referenced by MetalMind:
Which is part of an article by TradingView
Mobius is a renowned thinkscripter and trader and he says it's unlikely, so It's not looking too great, but there's more digging to be done before calling it quits.
However, something that is very encouraging and shows that this can actually be done is that BEFORE Profiles were even introduced into TOS, a version of it was coded by thinkscripter
(the hyperlink goes to an archived page that no longer exists and took me FOREVER to find btw).
The only thing is, he created it as a paid indicator back in 2009. Maybe if I ask properly, he might just give it out, since its a 12yo indicator, but I feel the logic behind it is still very relevant.
This is further validated, considering Mobius and some other guys simple said it couldn't be done 2 year ago, when Thinkscripter did it in 2009!
Would appreciate everyone's thoughts. more so, if anyone with relatively more experience/confidence wishes to further this goal
Side note: I'm surprised this isn't gaining much traction, despite massive utility for every intraday trader, rivaling VWAP and the like :/