Learn How To Use Volume Profile Indicator In Webull [2024]
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- Опубліковано 28 чер 2024
- The Volume Profile Indicator is one of the best tools you can use while you trade stocks or options online. In this video, we'll be using the Volume Profile Indicator (VPI) to trade stocks and options. We'll be using the VPI to make a trade, and we'll also be discussing how the VPI can be used in other contexts, like trading stocks and Forex.
If you're interested in using the VPI to trade stocks and options or want to learn more about how it can be used in other contexts, then this video is for you! By the end of this video, you'll understand how the Volume Profile Indicator works, and you'll be able to use it to make profitable trades!
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(0:00): Intro
(1:03): What is the Volume Profile Indicator?
(2:43): Volume Profile Components
(6:25): Different Volume Profile Shapes and How to Use Them
(7:35): Example Trade ($1000 Profits in 30 minutes)
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Wooohooo!! That was a lot of great information! I’m going to have to watch that a few more time to make sure I have that down! Thank you!
Volume has always been important but this indicator has been a huge game changer
@BlackGirlStocks yes I was trying to figure out too I really appreciate it and hope I can understand it more
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You are a great teacher!
Thank you! I love sharing this information in an exciting way
The best explanation on vp I’ve seen!
Alicia Jackson Thank you so much 😀
I'm part of your Discord and still in the learning phase - this is the BEST video I've seen about VP. THANK YOU!!!
Thank You Amy. I'm Glad it was helpful!
You are amazing. Been trading for 30 years, and simply blow away by your teaching.
Pray you have a long. successful career helping people.
Hey, thank you so much for your kind words! It really means a lot to hear that my content has had a positive impact, especially coming from someone with as much experience as you have. I'm just happy to help out where I can and share what I know. I'm looking forward to many more years of doing just that. Take care!
Fantastic explanation . The best on UA-cam. Thank you so much. It helped a lot .
Hey, that means a lot! Super glad it clicked for you and helped out. Thanks for dropping by and watching. If there's anything else you're curious about, just let me know. Happy Trading!
You are an AWESOME instructor 🙏🧞♀️🙏
I appreciate you as always Jeannie! Thank you!!!
This helps me a lot. Been using bid and ask spread with volume. Thank you very much.
I'm really glad to know that you found this video helpful! Using the bid-ask spread along with volume is a smart strategy.
Thank you for sharing and you gave me a better understanding of volume profiles.
Thank you Larry! I'm happy to help 📈📈📈📈
Very helpful video and thank you for sharing🙏🏽
No problem 😊 i'm glad it was helpful 📈📈📈📈
Great video, thank you!
Thanks a bunch! I appreciate your support and I'm happy that you liked the video!
Thank you for speaking in a “Language” I can understand!
Wow thank you! That’s my goal 🔥❤️📈
Thank You !!!
I’m happy to help ❤️📈
Aye yo! Preciate the video! Made money using the VP strategy really simple and your explanation was great definitely tuned in that is for the sauce ✅🔥
Quick question being that when u zoom in and out the VP Indicator moves how do you know what shape to go with since it changes shape as u zoom in and out the charts
Glad it helped! Thank youuu
its all going to be based on the time and data in that range - pin it to one area and do your analysis there
Thank you!!
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Great info Queen
Thank you so much! This has become my FAVORITE trading tool in the last few months. The volume profile and Fibonacci levels 🔥🔥 more knowledge and power for us ❤️❤️❤️📈📈📈
Not the transition to this video though 🔥🔥 fire!
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Hey BGS great video! Do you keep your setting on the VP standard or do you change them? THANKS!!!
I change the color scheme and increase the number of bars to see more volume points
Hi, thank you for awesome, and helpful video! I have a question, what is timeframe do you recommend for the day trading to identify the "letters" on the VP? And maybe you could make a video about that, would really amazing. Thank you!
Hey! I'm really glad you liked the video!
For day trading, I usually go with 5-minute, 30-minute, and 1-hour timeframes to spot signals on the Volume Profile. Give it a try and see how it works for you.
Also, I love your idea of making a video about it-I'll definitely keep it in mind. Thanks for your input, and stay tuned for more cool content! 📈📈📈📈
@@BlackGirlStocksthank you for your response! Yeah, it would be great, also your thoughts when you are checking the Volume Profile, kind of tips, etc
Hi Foxtail!.appreciate the info first of all..inquiring minds want to know where do you suggest setting inputs on volume profile indicator?
Hey Jeremy!
I love your thirst for knowledge. When it comes to the volume profile indicator, I generally just stick to the default setting for the actual setup.
However, if you're referring to an entry point, we need to dig a bit deeper. We'll want to first look at the overall trend of the stock, the shape of the volume profile, and the location of the POC, VAH, and VAL that the volume profile indicates on the stock's chart.
If we talk about the D shaped volume profile, it's a good strategy to enter bearish positions near volume clusters at the value area high and bullish positions at volume clusters near the value area low. You may consider taking profits at the POC, as it is generally in the center of the D-shaped profile.
With P shaped volume profiles, which are essentially bullish, the POC serves as a solid support area with volume clusters and thin areas below the high POC providing potential entry signals. If the price returns to high-volume areas below the POC, it's a good sign of aggressive buying pressure.
B shaped volume profiles, on the other hand, are bearish. The POC here can serve as a strong resistance area. Large volume clusters in the thin area above the POC level could present good entry points for bearish positions as they indicate high selling points on the chart.
I hope that helps some! Let me know if you have any other questions.
@@BlackGirlStocks exactly what i needed to know.!cant wait to rejoin the discord!you are awesome!thks
Awesome personality and great content👍...do you have any vids showing teens the best simulator apps to use?
look up Thank you so much 😀 In my option it is ThinkorSwim's On Demand feature. I talk more about it in this video:
👉🏾 ua-cam.com/video/Lay80TG3oy0/v-deo.html
On th P-shaped and b-shaped profiles, where is the POC, and how do we know that’s the POC? Previously the POC ran through the middle of the highest volume section, so what tells us it’s below the high-volume section in the P-shape, and above the high-volume section in the b-shape? Thanks! Great content! I’m learning a lot.
For any of the shapes, the POC is always the point/price with the HIGHEST volume in the value area. Your charting tool also highlights the POC for easy/quick detection.
@@BlackGirlStocks Awesome. Thanks!
Always Great content, I appreciate you! So when in the P shape and price falls below POC, finding a cluster towards the bottom is a great buying entry point? I just want to know if I’m hearing this correct.
Yes, you have it perfectly Mel. With a P-shaped Volume Profile, volume clusters below the POC show the aggression of buyers - they are putting heavy volume in the market to move the price higher.
@@BlackGirlStocks Nice! You are always appreciated!
Fire video. webull have fix range volume profile . Do you have a video on that
Thanks for checking out the video! You're right about Webull having a fixed range volume profile. What I've found, though, is that since the volume profile can change based on the data that's currently on display, I've been kind of sticking with just using it as is for now. It seems to work well for me this way.
I'll definitely keep the fixed volume profile in mind and might delve more into it later on. But at the moment, I'm pretty comfortable with the current method.
Thanks again for your input - always appreciated!
Very cool. I'm going to paper trade this indicator and get familiar with it. Especially the entry and exit. Is there a time frame that you recommend using it with? Thanks.
For swing trading 4hr, day trading 5 min are my personal favorites
@@BlackGirlStocks Awesome thanks. You're the best.
Thanks for sharing! Qq - is there any dependency on timeframe you choose? For example. VP for 1min vs 5m. Which one is most beneficial?
Hey, no problem at all! Regarding your question, yeah, the timeframe you choose for the Volume Profile (VP) really depends on what kind of trader you are. If you're into quick, in-and-out trades, the 1-minute might be more your speed. But if you're looking for a broader view, the 5-minute could give you a better picture of the market's movements. There isn't really a 'one size fits all' answer; it's more about what suits your trading style best. Hope that helps!
How do you know if it is buying volume or selling volume? In conjunction with chart across the bottom or is it the differnt colors (orange and blue) on some charts?
So the volume profile indicator is very helpful and shows us the trading action that happens at each particular price level. But it doesn't directly tell us if it's a buying or selling activity. To get a better feel of the market vibes you can use other indicators like the DMI indicator, order flow indicators (these are available in my option trading group query commands), the BOP indicator, and also use the volume bars at the bottom of the chart to gauge buying and selling pressure.
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HELLO, THANKS FOR SHARING, WHAT TIMEFRAMES DO YOU USE WITH THE VOLUME PROFILE, DO YOU FIND IT WORK WITH VWAP AS A TRADING STRATEGY?
Hey! Thanks for reaching out. So, I usually rock a triple screen setup for my trading, which means I'm juggling between a few different time frames - typically the 4-hour, 1-hour, and 30-minute charts or I'll switch it up to daily, 4-hour, and 1-hour charts. It helps to get a good look from different angles, you know? I tend to slot the volume profile indicator onto both the long-term and intermediate charts to get a better grasp of things. Oh, and I've got this handy video on the triple screen trading strategy - really breaks down how to use it effectively. Might be worth checking out if you're curious: ua-cam.com/video/6jX1pTuI4ns/v-deo.html. Hope that helps and happy trading!
Hey, how are you today? Do you have a video explaining how to configure the "Settings" for Volume-Profile in TradingView? Thanks.
Hey there! I'm doing well, thank you.
I'm afraid I don't have a specific video on configuring the 'Settings' for Volume-Profile in TradingView. But here's a quick guide for you:
Open TradingView and pull up a chart.
Check out the toolbar on the top, you'll find an option called 'FX'. Click on it.
A drop down menu will open up. Scroll to find 'Volume Profile' and select it.
You'll find several types of Volume Profile there but the once’s I’m most familiar with using are - 'Visible Range' and 'Fixed Range'. Choose the one you need.
Visible Range (VPVR): The Visible Range option computes a Volume Profile that takes into account all of the volume from the visible area of the chart. This type adjusts when you zoom in/zoom out, or move the chart backward/forward. It’s dynamic and changes based on what you’re currently viewing.
Fixed Range (VPFR): The Fixed Range option computes a Volume Profile over a specific range that you choose. To select a range, you click on your starting point and drag to your end point. The Fixed Range is static - it doesn't change when you zoom or pan your chart. This is helpful when you want to study a specific period, like a day, week, or a significant market event.
Both methods serve useful purposes depending on your trading style and what specific information you're looking for.
Once selected, you'll see it appear on your chart. To adjust the settings, click on the little settings wheel.
I typically set the value area volume to 70, which means that 70% of the total traded volume is displayed within the value area range, highlighting where the majority of the activity is taking place. As for row size, I usually choose anywhere between 20 to 30 rows. This provides a clearer and more detailed visual of how the volume fluctuates, making it easier to identify potential support and resistance levels based on trading activity.
I hope that helps! Good luck with your trading!
Extremely helpful. I will go over that info, thank you kindly!
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Im searching your videos for the set of the volume profile
Which video is it?
this video
I just don’t like that on the mobile app it’s shift to the left wall instead of right as shown in ur vid. Is there a way to change this or it’s only available via desktop/Tablet?
I am tho able to view it right side on my tablet.
I don’t see an option to change the VP to a different side. Have you reached out to Webull? They are very quick to respond and take suggestions from users ❤️❤️
@@BlackGirlStocks thanks for replying, no haven’t, I really should as I have pressing matter more important than that 😅
There’s $200 in “other fees” but no where does it state what _other_ is referring too, 🤨
Have u come across unexpected fees from them?!
@@lj4001 I have subscriptions in Webull but nothing unexpected no
@@BlackGirlStocks ok thanks, no I don’t have any subscriptions, how would I go about checking in the app where it’s coming from?
There’s nothing to click on further to see. 😕
*btw I did figure out my original question, wen u turn phone to landscape mode (sideways) it will switch VP to the right like on desktop tho tablet seems to work same as via mobile phone by switch inbetween. ☺️
**U can also go on settings n toggle-off Landscape for those that setup their trades while in bed n get frustrate from all that vertigo flipping 😂
God bless. What name of volume indicators on the right side of the WeBull? Thanks
God bless you too. On the WeBull platform, the volume indicator is typically displayed on the right side of the chart. The name of this indicator is simply "Volume Profile." To add or customize the volume indicator, follow these steps:
Open the WeBull app or web platform and navigate to the chart of the stock you're interested in.
Locate the "Indicators" button, usually represented by a chart icon or labeled "Indicators."
Click on the "Indicators" button and scroll through the list of available indicators.
Find and select "VP" to add it to your chart.
Once added, the volume indicator will appear on the right side of the chart, displaying the trading volume for each time period (candlestick or bar) in your chosen time frame. You can customize the appearance and settings of the volume indicator within the "Indicators" menu as needed.
So....how far typically would you recommend rolling back the VP indicator on webull? Because as you said it jumps around a lot the more you extend it back. Please explain thanks.
Honestly, it's all about what I'm aiming to trade. For a swing trade, I'm often leaning on the triple screen trading strategy and zeroing in on the volume profile from the four-hour chart. So, for this, I'm usually peeling back to scope out roughly a month's worth of data. But, if I'm in the daytrading zone and working the volume profile on a five-minute chart, then we're talking less time - likely just a day's worth or so, you get me?
What's cool about Webull's platform is how the volume profile indicator flexes when you zoom in and out, adjusting based on the data shown on the screen. Makes it super handy.
Hope that clears things up!
@@BlackGirlStocks that makes sense. But out of curiosity do you do like consultation calls or something? In case if I wanted to go over Volume Profile a bit more?
How exactly do you use VP tho?
What chart time frame for day trading?
I went over pretty clearly in the video ways to use the Volume Profile Indicator.
For timeframes you've got a few options for day trading, actually. You can go with anything from a 1-minute, 5-minute, 15-minute, all the way up to an hour chart. It really depends on your trading style.
I see, just a difficult concept to understand for now. I see that you had it in daily time frame at one point, so for day trading you don’t reference the daily chart with VP to trade? Just use your choice of time frame and observe the different types of VP shapes?
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Where can I get this chart? On my labtop
Webull
Would you consider doing a video on the actual mechanics of a REAL trade with options? For Example, the multiple screens and the first step of the day, How many screens do you have open at a time. How to navigate between your broker account when you buy your planned and studied options... I'm feeling clumsy. And a little unsettled by the process to start. I prepare an hour before the market opens and consider my OPTION for the start of the bell but?.... Whats next? HELP PLEASE!
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@Black Girl Stocks I just got through watching the new frontline documentary. It talked about the age of easy money. It has one of your videos on the documentary. I was shocked to see one of your videos on the documentary 😮
They didn't send me a coin for that either 😩😂
@@BlackGirlStocks dang I thought they would at least let you know something before they put it on their documentary
Oh wow. What’s name of the documentary?
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Can you recommend a brokerage firm
Webull
act.webull.com/kol-us/share.html?hl=en&inviteCode=yFHMTHsdOkTp
Can't find the VP and POC indicator on my Webull
First, go to the 'Indicators' section.
Next, look in the 'Main Chart' area.
From there, look for 'VP' (the abbreviation for the Volume Profile indicator) and click on it.
BUT if for any reason you don't see these mentioned options, it could be that your Webull app needs an update. So, to make sure you've got the latest features, head to your app store (Google Play for Android or App Store for iOS) and check for any updates for the Webull app. If there's an update available, download it. In some cases, you may need to uninstall and reinstall the Webull app to get the latest version.
@@BlackGirlStocks Thanks a lot. Just found it on the main chart. Will rewatch your video and understand it better. Thanks again.
Can I just invest in you. Please
Awee lol thank you!!
Seriously! Start a fund @blackgirlstocks
Should be #babe
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Hey every indicator is Garbage
Thats your opinion. Thanks for sharing
Frustrating in the most of the video you just keep beating around the bush. Easy for me Aha moment. Dude wtf
I'm ABSOLUTELY devastated to hear that the video didn't meet your expectations. 🫢🫨We all have different tastes and views, and it's absolutely okay if my content isn't your cup of tea. Maybe there are other channels that are more up your alley. 👋🏾✌🏾
What hour chart do you use when trading like this
Hey there! So, when I'm trading, I don't stick to just one timeframe. I actually use a mix based on something called the triple screen trading strategy. Basically, I look at different charts of varying time spans. I also make use of the volume profile indicator specifically on the larger and middle (intermediate) timeframes.
If this sounds a bit much, no worries! I've got a video where I break this process down. Here's the link: ua-cam.com/video/6jX1pTuI4ns/v-deo.html. Give it a watch when you can. I think you'll find it helpful for your trading strategy. Let me know if you have any questions afterwards!
@@BlackGirlStocks thank you ! I trade on the 5 min chart 1 and 30 min chart for day trading and 4 he and daily for a swing trade . I love your video btw and I’m going to check out the one you linked . God bless
@@BlackGirlStocks I threw you video in my discord I’m in btw . You p shape helped me out with stock intell . 👍🏾🔥🔥🔥🫡
@@hoezayyafuck1371 Hey, that's awesome to hear! It looks like you've got a solid strategy set up with those timeframes for day trading and swing trading. Super glad you enjoyed the video too! Definitely check out the one I linked; I think you'll find some useful tidbits there as well. Thanks for the positive vibes, and God bless you too! Keep in touch and let me know how your trading goes!