Volume Profile shows how much volume traded at each price, as horizontal bars on the side of the chart. The price with the most volume, the point of control, often acts like a magnet, and low-volume areas tend to get crossed quickly. TradingCharts has both Visible Range and Session Volume Profile.
Yes, scripts run on all 22 chart types. On Heikin Ashi, Renko and other price-based charts, though, the script calculates from those adjusted prices, so run and backtest strategies on regular candles if you want realistic results.
A regression trend channel draws a best-fit line through price over the period you select, with bands above and below it. Unlike a parallel channel you draw by eye, it's calculated from the data, so it shows the average path of price and how far price usually strays from it.
It's how traders and developers work with us to build indicators and strategies and bring them to TradingCharts users. Approved creators can publish their work on the Indicator Marketplace.
The magnet snaps your drawings to the nearest open, high, low or close of a candle. Turn it on when you want trend lines and Fibonacci levels to start exactly on a swing high or low, rather than a few paise off.
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