OPEN-SOURCE SCRIPT
Volume Map
Volume Map is a volume profile that shows the price levels where trading activity was concentrated within the selected market range.
The indicator distributes historical candle volume across horizontal price rows and identifies three key reference levels:
🔴 Resistance — the upper boundary of the calculated balance area.
🟡 Balance — the price row with the highest calculated volume.
🟢 Support — the lower boundary of the calculated balance area.
The profile, levels, and information dashboard are all generated from one unified volume-distribution model. They are not separate indicators mechanically combined to create additional signals.
The horizontal profile displays the full volume distribution, the levels identify its key boundaries, and the dashboard translates the same calculations into a clear and accessible market context.
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⚙️ ORIGINAL CALCULATION METHOD
The main feature of this implementation is the way each candle’s volume is distributed across price rows.
A single candle may cross several price levels. Instead of adding the entire candle volume to every crossed row, Volume Map measures the actual overlap between the candle’s range and each price row.
The volume allocated to a specific row is proportional to:
the row’s overlap with the candle / the candle’s full range
For example, if a price row covers 20% of the candle’s full high-to-low range, that row receives approximately 20% of the candle’s volume.
This approach:
• preserves the candle’s total volume within the profile;
• avoids repeatedly counting the full candle volume at multiple price levels;
• provides a more precise approximation of how available OHLCV volume is distributed within the candle’s range.
When a candle has no measurable difference between its high and low, its volume is assigned to the row containing the closing price.
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🟡 HOW BALANCE IS DETERMINED
Balance represents the price row with the highest calculated concentration of volume.
When several rows have the same maximum volume, the indicator calculates the volume-weighted centroid of the entire profile and selects the maximum-volume row located closest to that centroid.
This rule connects Balance to the broader volume distribution and avoids automatically selecting the first maximum found in the profile.
Balance can be viewed as a statistical reference for the area of value within the selected range.
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🔵 HOW THE BALANCE AREA IS FORMED
The Balance Zone Size setting determines what percentage of the profile’s total volume must be contained between Support and Resistance.
The default value is 68%.
The script searches for the narrowest continuous group of price rows that:
• contains the Balance row;
• includes at least the selected percentage of total volume;
• remains continuous between its lower and upper boundaries.
When two possible ranges have the same width, the script selects the one whose center is located closest to Balance.
The balance area does not have to be symmetrical. When more volume is concentrated above or below the Balance row, one side of the area may extend noticeably farther than the other.
This reflects the actual calculated volume distribution instead of artificially centering the boundaries around Balance.
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🎨 PROFILE COLOR LOGIC
The horizontal profile uses three visual states:
🔵 Blue rows — volume included in the calculated balance area.
⚫ Gray rows — volume located outside the balance area.
🟡 Yellow row — the Balance level.
The width of each row represents its calculated volume relative to the highest-volume row in the profile.
The wider the row, the greater the volume concentration at that price level within the analyzed range.
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📍 KEY REFERENCE LEVELS
🟡 BALANCE
Balance is the row with the highest calculated volume in the profile.
It can be used as a statistical reference for the area of value and as a central point for evaluating the current price location.
🔴 RESISTANCE
Resistance is the upper boundary of the balance area.
This level does not mean that price must reverse. It identifies the price where the selected concentration of volume ends on the upper side of the profile.
🟢 SUPPORT
Support is the lower boundary of the balance area.
It is a statistical boundary of the calculated area of value, not a guaranteed support level.
The names Support and Resistance are used to make the profile easier to understand. Both levels are calculated from volume distribution rather than from:
• local highs and lows;
• moving averages;
• traditional pivot levels;
• trend lines.
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🔗 WHY THESE COMPONENTS ARE COMBINED IN ONE INDICATOR
Volume Map contains three connected components:
1. Horizontal profile
Displays the full calculated volume distribution across price levels.
2. Support, Balance, and Resistance levels
Identify the highest concentration of volume and the boundaries of the balance area.
3. Beginner Dashboard
Explains the current price location relative to the same calculated levels.
The dashboard does not calculate a separate trend, momentum, or trading signal.
Every value displayed in the dashboard is derived directly from:
• the current price;
• Balance;
• Support;
• Resistance.
The purpose of combining these components is to make one volume-distribution calculation useful both for experienced volume-profile users and for traders who prefer a simpler and clearer summary.
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🧭 BEGINNER DASHBOARD
Market
Shows whether the current price is above or below Balance.
🟢 Above — price is above Balance.
🔴 Below — price is below Balance.
This describes the location of price. It is not a prediction of future upward or downward movement.
Price
Shows the current price location relative to the entire balance area.
• Above map — price is above Resistance.
• Upper — price is between Balance and Resistance.
• Balance — price is at the Balance level.
• Lower — price is between Support and Balance.
• Below map — price is below Support.
Zone
Shows the nearest significant profile level while price remains inside the balance area:
🔴 Resistance
🟡 Balance
🟢 Support
When price is above Resistance or below Support, the dashboard displays Outside.
Tip
Provides a brief description of the current price location:
• Above resistance — price is above Resistance;
• Above balance — price is above Balance;
• At balance — price is at Balance;
• Below balance — price is below Balance;
• Below support — price is below Support.
The Tip row is descriptive only and does not represent a buy or sell signal.
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🛠️ SETTINGS
Use Visible Range
When enabled, the script builds the profile from the chart range currently visible to the user.
Changing the chart scale or moving the visible range may change the calculated profile and levels.
When disabled, the script uses the fixed number of candles selected in Lookback Bars.
Lookback Bars
Defines the number of recent candles used in the calculation when Use Visible Range is disabled.
• A larger value includes more historical data.
• A smaller value makes the profile more responsive to recent price action.
Profile Detail
Controls the number of horizontal price rows.
• Higher values provide finer price resolution but require more calculations.
• Lower values produce a simpler and smoother profile.
Profile Bar Thickness
Controls the visual thickness of the horizontal rows.
This setting does not affect the calculations.
Profile Width
Controls the maximum horizontal width of the profile relative to the number of analyzed candles.
This setting affects presentation only.
Right Offset
Controls the distance between the latest candle and the profile.
Balance Zone Size
Defines the percentage of total profile volume that must be included between Support and Resistance.
• A higher value usually creates a wider balance area.
• A lower value creates a narrower balance area.
Volume Type
• Both — includes all qualifying candles.
• Bullish — includes candles whose closing price is greater than or equal to their opening price.
• Bearish — includes candles whose closing price is below their opening price.
Bullish and Bearish modes classify the entire volume of a candle according to the candle’s direction.
They do not represent actual buy and sell volume, bid/ask volume, order-flow delta, or the precise distribution of aggressive market orders.
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📈 HOW TO USE THE INDICATOR
Start with the default settings and observe how price behaves around Balance, Support, and Resistance.
Price inside the balance area
When price is between Support and Resistance, the profile indicates that a significant share of the analyzed volume was concentrated within this range.
Balance can be used as a reference for analyzing:
• price rotation within the area of value;
• mean-reversion behavior;
• price reactions around the area of maximum volume concentration.
Price above Resistance or below Support
When price moves outside the balance area, traders can observe:
• whether price is being accepted outside the area;
• whether price remains outside the area of value;
• whether price returns toward Balance.
The profile may also help identify:
• high-volume areas that price may revisit repeatedly;
• low-volume transitions where less trading activity was previously concentrated;
• changes in the area of value when the profile is calculated over a different range;
• differences between short-term and long-term volume distributions.
Volume Map does not determine trend direction and does not generate predefined:
• entry points;
• exit points;
• stop-loss levels;
• profit targets.
The indicator can be used together with the trader’s own market-structure, trend-direction, and risk-management process.
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🔄 REAL-TIME BEHAVIOR
The profile is calculated in real time using the selected market range.
Its values may change when:
• the current candle’s high, low, or volume changes;
• a new candle enters the fixed calculation range;
• an older candle leaves the calculation range;
• the visible chart range changes;
• the timeframe, symbol, or settings are changed.
This recalculation is normal behavior for a volume profile based on a changing market range.
The script does not request future data and does not use lookahead calculations.
However, levels calculated using the active candle may continue to change until that candle closes.
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⚠️ LIMITATIONS
Volume Map uses the volume data supplied by PulseWire’s chart data source.
Results may be less informative for instruments with:
• unavailable volume data;
• synthetic volume;
• incomplete volume data;
• decentralized volume.
The script estimates the distribution of volume within each candle using the candle’s high-to-low range.
Standard chart data does not contain the exact sequence of every transaction at each price level inside a historical candle.
The profile is therefore an approximation based on the available OHLCV data.
It is not an exchange-level profile calculated from every individual trade or tick.
Support, Balance, and Resistance describe the selected historical range. They do not guarantee a future price reaction and should not be treated as standalone trading instructions.
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🎓 IMPORTANT
Volume Map is designed for analytical and educational purposes.
The indicator does not constitute financial advice, does not promise a particular outcome, and does not replace independent analysis or risk management.
The indicator distributes historical candle volume across horizontal price rows and identifies three key reference levels:
🔴 Resistance — the upper boundary of the calculated balance area.
🟡 Balance — the price row with the highest calculated volume.
🟢 Support — the lower boundary of the calculated balance area.
The profile, levels, and information dashboard are all generated from one unified volume-distribution model. They are not separate indicators mechanically combined to create additional signals.
The horizontal profile displays the full volume distribution, the levels identify its key boundaries, and the dashboard translates the same calculations into a clear and accessible market context.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
⚙️ ORIGINAL CALCULATION METHOD
The main feature of this implementation is the way each candle’s volume is distributed across price rows.
A single candle may cross several price levels. Instead of adding the entire candle volume to every crossed row, Volume Map measures the actual overlap between the candle’s range and each price row.
The volume allocated to a specific row is proportional to:
the row’s overlap with the candle / the candle’s full range
For example, if a price row covers 20% of the candle’s full high-to-low range, that row receives approximately 20% of the candle’s volume.
This approach:
• preserves the candle’s total volume within the profile;
• avoids repeatedly counting the full candle volume at multiple price levels;
• provides a more precise approximation of how available OHLCV volume is distributed within the candle’s range.
When a candle has no measurable difference between its high and low, its volume is assigned to the row containing the closing price.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🟡 HOW BALANCE IS DETERMINED
Balance represents the price row with the highest calculated concentration of volume.
When several rows have the same maximum volume, the indicator calculates the volume-weighted centroid of the entire profile and selects the maximum-volume row located closest to that centroid.
This rule connects Balance to the broader volume distribution and avoids automatically selecting the first maximum found in the profile.
Balance can be viewed as a statistical reference for the area of value within the selected range.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🔵 HOW THE BALANCE AREA IS FORMED
The Balance Zone Size setting determines what percentage of the profile’s total volume must be contained between Support and Resistance.
The default value is 68%.
The script searches for the narrowest continuous group of price rows that:
• contains the Balance row;
• includes at least the selected percentage of total volume;
• remains continuous between its lower and upper boundaries.
When two possible ranges have the same width, the script selects the one whose center is located closest to Balance.
The balance area does not have to be symmetrical. When more volume is concentrated above or below the Balance row, one side of the area may extend noticeably farther than the other.
This reflects the actual calculated volume distribution instead of artificially centering the boundaries around Balance.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🎨 PROFILE COLOR LOGIC
The horizontal profile uses three visual states:
🔵 Blue rows — volume included in the calculated balance area.
⚫ Gray rows — volume located outside the balance area.
🟡 Yellow row — the Balance level.
The width of each row represents its calculated volume relative to the highest-volume row in the profile.
The wider the row, the greater the volume concentration at that price level within the analyzed range.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
📍 KEY REFERENCE LEVELS
🟡 BALANCE
Balance is the row with the highest calculated volume in the profile.
It can be used as a statistical reference for the area of value and as a central point for evaluating the current price location.
🔴 RESISTANCE
Resistance is the upper boundary of the balance area.
This level does not mean that price must reverse. It identifies the price where the selected concentration of volume ends on the upper side of the profile.
🟢 SUPPORT
Support is the lower boundary of the balance area.
It is a statistical boundary of the calculated area of value, not a guaranteed support level.
The names Support and Resistance are used to make the profile easier to understand. Both levels are calculated from volume distribution rather than from:
• local highs and lows;
• moving averages;
• traditional pivot levels;
• trend lines.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🔗 WHY THESE COMPONENTS ARE COMBINED IN ONE INDICATOR
Volume Map contains three connected components:
1. Horizontal profile
Displays the full calculated volume distribution across price levels.
2. Support, Balance, and Resistance levels
Identify the highest concentration of volume and the boundaries of the balance area.
3. Beginner Dashboard
Explains the current price location relative to the same calculated levels.
The dashboard does not calculate a separate trend, momentum, or trading signal.
Every value displayed in the dashboard is derived directly from:
• the current price;
• Balance;
• Support;
• Resistance.
The purpose of combining these components is to make one volume-distribution calculation useful both for experienced volume-profile users and for traders who prefer a simpler and clearer summary.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🧭 BEGINNER DASHBOARD
Market
Shows whether the current price is above or below Balance.
🟢 Above — price is above Balance.
🔴 Below — price is below Balance.
This describes the location of price. It is not a prediction of future upward or downward movement.
Price
Shows the current price location relative to the entire balance area.
• Above map — price is above Resistance.
• Upper — price is between Balance and Resistance.
• Balance — price is at the Balance level.
• Lower — price is between Support and Balance.
• Below map — price is below Support.
Zone
Shows the nearest significant profile level while price remains inside the balance area:
🔴 Resistance
🟡 Balance
🟢 Support
When price is above Resistance or below Support, the dashboard displays Outside.
Tip
Provides a brief description of the current price location:
• Above resistance — price is above Resistance;
• Above balance — price is above Balance;
• At balance — price is at Balance;
• Below balance — price is below Balance;
• Below support — price is below Support.
The Tip row is descriptive only and does not represent a buy or sell signal.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🛠️ SETTINGS
Use Visible Range
When enabled, the script builds the profile from the chart range currently visible to the user.
Changing the chart scale or moving the visible range may change the calculated profile and levels.
When disabled, the script uses the fixed number of candles selected in Lookback Bars.
Lookback Bars
Defines the number of recent candles used in the calculation when Use Visible Range is disabled.
• A larger value includes more historical data.
• A smaller value makes the profile more responsive to recent price action.
Profile Detail
Controls the number of horizontal price rows.
• Higher values provide finer price resolution but require more calculations.
• Lower values produce a simpler and smoother profile.
Profile Bar Thickness
Controls the visual thickness of the horizontal rows.
This setting does not affect the calculations.
Profile Width
Controls the maximum horizontal width of the profile relative to the number of analyzed candles.
This setting affects presentation only.
Right Offset
Controls the distance between the latest candle and the profile.
Balance Zone Size
Defines the percentage of total profile volume that must be included between Support and Resistance.
• A higher value usually creates a wider balance area.
• A lower value creates a narrower balance area.
Volume Type
• Both — includes all qualifying candles.
• Bullish — includes candles whose closing price is greater than or equal to their opening price.
• Bearish — includes candles whose closing price is below their opening price.
Bullish and Bearish modes classify the entire volume of a candle according to the candle’s direction.
They do not represent actual buy and sell volume, bid/ask volume, order-flow delta, or the precise distribution of aggressive market orders.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
📈 HOW TO USE THE INDICATOR
Start with the default settings and observe how price behaves around Balance, Support, and Resistance.
Price inside the balance area
When price is between Support and Resistance, the profile indicates that a significant share of the analyzed volume was concentrated within this range.
Balance can be used as a reference for analyzing:
• price rotation within the area of value;
• mean-reversion behavior;
• price reactions around the area of maximum volume concentration.
Price above Resistance or below Support
When price moves outside the balance area, traders can observe:
• whether price is being accepted outside the area;
• whether price remains outside the area of value;
• whether price returns toward Balance.
The profile may also help identify:
• high-volume areas that price may revisit repeatedly;
• low-volume transitions where less trading activity was previously concentrated;
• changes in the area of value when the profile is calculated over a different range;
• differences between short-term and long-term volume distributions.
Volume Map does not determine trend direction and does not generate predefined:
• entry points;
• exit points;
• stop-loss levels;
• profit targets.
The indicator can be used together with the trader’s own market-structure, trend-direction, and risk-management process.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🔄 REAL-TIME BEHAVIOR
The profile is calculated in real time using the selected market range.
Its values may change when:
• the current candle’s high, low, or volume changes;
• a new candle enters the fixed calculation range;
• an older candle leaves the calculation range;
• the visible chart range changes;
• the timeframe, symbol, or settings are changed.
This recalculation is normal behavior for a volume profile based on a changing market range.
The script does not request future data and does not use lookahead calculations.
However, levels calculated using the active candle may continue to change until that candle closes.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
⚠️ LIMITATIONS
Volume Map uses the volume data supplied by PulseWire’s chart data source.
Results may be less informative for instruments with:
• unavailable volume data;
• synthetic volume;
• incomplete volume data;
• decentralized volume.
The script estimates the distribution of volume within each candle using the candle’s high-to-low range.
Standard chart data does not contain the exact sequence of every transaction at each price level inside a historical candle.
The profile is therefore an approximation based on the available OHLCV data.
It is not an exchange-level profile calculated from every individual trade or tick.
Support, Balance, and Resistance describe the selected historical range. They do not guarantee a future price reaction and should not be treated as standalone trading instructions.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🎓 IMPORTANT
Volume Map is designed for analytical and educational purposes.
The indicator does not constitute financial advice, does not promise a particular outcome, and does not replace independent analysis or risk management.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Trading tools by MarketStructureLab. Professional indicators, algorithms & market structure logic. Get access: marketstructurelab.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Trading tools by MarketStructureLab. Professional indicators, algorithms & market structure logic. Get access: marketstructurelab.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.