How to Use Volume Profile and the Importance of Volume Profile Data
If you’re looking for ways to identify intra-day support and resistance levels to help find turning points in the market, one of the more effective ways to do so is with volume profile data. Volume profile is a charting technique that displays the total volume traded at every price level throughout the trading session. Read more to learn how volume profile and technical tools may help as part of your trading strategies.
How to Use Volume Profile and Other Technical Tools
In this edition of ‘Traders Workshop’, Patrick Mullin of Gorilla Futures discusses how his volume profile “HeatMap” indicator in combination with other technical tools helps traders better identify potential entry setups and trend reversals. Patrick also talks about his “FootPrint” indicator and how it can help identify where intra-bar buying and selling is taking place, in order to better anticipate market direction and identify short-term day-trades.
Key topics covered include:
- Why Order Flow is important to a trader
- Visualizing Order Flow on a price chart
- Understanding Volume Heat Maps
- Identifying potential Buying and Selling levels
- What it takes to become a Day-Trader
Tune in to Trader’s Workshop Every Week
Be sure to join us live each Tuesday at 12:00pm ET for another edition of Traders Workshop. You can watch previous Trader’s Workshop events available on-demand: https://ninjatrader.com/events/
Get Started with NinjaTrader
NinjaTrader supports more than 500,000 traders worldwide with a powerful and user-friendly trading platform, discount futures brokerage and world-class support. NinjaTrader is always free to use for advanced charting & strategy backtesting through an immersive trading simulator.
Download NinjaTrader’s award-winning trading platform and get started with a free trading demo with real-time market data today!