Volume Range Profile with Fair Value (Zeiierman)

█ Overview
The Volume Range Profile with Fair Value (Zeiierman) is a precision-built volume-mapping tool designed to help traders visualize where institutional-level activity is occurring within the price range — and how that volume behavior shifts over time.

Unlike traditional volume profiles that rely on fixed session boundaries or static anchors, this tool dynamically calculates and displays volume zones across both the upper and lower ends of a price range, revealing point-of-control (POC) levels, directional volume flow, and a fair value drift line that updates live with each candle.

You’re not just looking at volume anymore. You’re dissecting who’s in control — and at what price.

⚪ In simple terms:

• Upper Zone = The upper portion of the price range, showing concentrated volume activity — typically where selling or distribution may occur
  
• Lower Zone = The lower portion of the price range, highlighting areas of high volume — often associated with buying or accumulation
  
• POC Bin = The bin (price level) with the highest traded volume in the zone — considered the most accepted price by the market
  
• Fair Value Trend = A dynamic trend line tracking the average POC price over time — visualizing the evolving fair value
  
• Zone Labels = Display real-time breakdown of buy/sell volume within each zone and inside the POC — revealing who’s in control
  

█ How It Works

⚪ Volume Zones

• Upper Zone: Anchored at the highest high in the lookback period
  
• Lower Zone: Anchored at the lowest low in the lookback period
  
• Width is user-defined via % of range
  
• Each zone is divided into a series of volume bins
  

⚪ Volume Bins (Histograms)
Each zone is split into N bins that show how much volume occurred at each level:

• Taller = More volume
  
• The POC bin (Point of Control) is highlighted
  
• Labels show % of volume in the POC relative to the whole zone
  

⚪ Buy vs Sell Breakdown
Each volume bin is split by:

• Buy Volume = Close ≥ Open
  
• Sell Volume = Close < Open
  
• The script accumulates these and displays total Buy/Sell volume per zone.
  

⚪ Fair Value Drift Line
A POC trend is plotted over time:

• Represents where volume was most active across each range
  
• Color changes dynamically — green for rising, red for falling
  
• Serves as a real-time fair value anchor across changing market structure
  

█ How to Use

⚪ Identify Key Control Zones

• Use Upper/Lower Zone structures to understand where supply and demand is building.
  
• Zones automatically adapt to recent highs/lows and re-center volume accordingly.
  

⚪ Follow Institutional Activity

• Watch for POC clustering near price tops or bottoms.
  
• Large volumes near extremes may indicate accumulation or distribution.
  

⚪ Spot Fair Value Drift

• The fair value trend line (average POC price) gives insight into market equilibrium.
  
• One strategy can be to trade a re-test of the fair value trend, trades are taken in the direction of the current trend.
  

█ Understanding Buy & Sell Volume Labels (Zone Totals)
These labels show the total buy and sell volume accumulated within each zone over the selected lookback period:

• Buy Vol (green label) → Total volume where candles closed bullish
  
• Sell Vol (red label) → Total volume where candles closed bearish
  

Together, they tell you which side dominated:

• Higher Buy Vol → Bullish accumulation zone
  
• Higher Sell Vol → Bearish distribution zone
  

This gives a quick visual insight into who controlled the zone, helping you spot areas of demand or supply imbalance.


█ Understanding POC Volume Labels
The POC (Point of Control) represents the price level where the most volume occurred within the zone. These labels break down that volume into:

• Buy % – How much of the volume was buying (price closed up)
  
• Sell % – How much was selling (price closed down)
  
• Total % – How much of the entire zone’s volume happened at the POC
  

Use it to spot strong demand or supply zones:

• High Buy % + High Total % → Strong buying interest = likely support
  
• High Sell % + High Total % → Strong selling pressure = likely resistance
  

It gives a deeper look into who was in control at the most important price level.


█ Why It’s Useful

• Track where fair value is truly forming
  
• Detect aggressive volume accumulation or dumping
  
• Visually split buyer/seller control at the most relevant price levels
  
• Adapt volume structures to current trend direction
  

█ Settings Explained

• Lookback Period: Number of bars to scan for highs/lows. Higher = smoother zones, Lower = reactive.
  
• Zone Width (% of Range): Controls how much of the range is used to define each zone. Higher = broader zones.
  
• Bins per Zone: Number of volume slices per zone. Higher = more detail, but heavier on resources.
  

-----------------
Disclaimer

The content provided in my scripts, indicators, ideas, algorithms, and systems is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a solicitation to buy or sell any financial instruments. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.