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How do you correctly use volume profile?


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How do you correctly use volume profile?

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Hello,
Many people on this forum recommend using the volume profile indicator. How exactly is this indicator suppose to be used? I attached a picture below. From what I can tell, it looks like the red circles are where support/resistance lines form on price. Is that correct?
What exactly does the value area high and low tell me (blue circle, yellow line)?
What exactly does the Point of control tell me (yellow circle, red line)

Thanks in advance.

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Use the existing thread:



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Last Updated on March 2, 2015


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