Tape Reading Start v2 is a tape reading indicator designed for real-time order flow analysis on price levels. It visualizes the interaction between buyers and sellers by displaying aggressive buy and sell ticks (VOL↑ and VOL↓) at each price within a defined analysis window. The indicator uses variable-width bars to represent volume magnitude, with wider bars indicating higher volume.
Key features include simulated bid and ask liquidity values, visual highlights for important events, and color-coded volume bars: cyan/light blue for normal buy volume, red/pink for normal sell volume, green/yellow for exceptionally high volume, and purple/lilac for institutional volume. Special symbols mark the Point of Control (◆) representing the price level with the highest accumulated volume, institutional volume levels (★), and breakout range limits (←).
A lower statistics row provides contextual metrics such as the Point of Control (POC), Range High (RANGE↑), and Range Low (RANGE↓) over the selected bar period. The indicator supports visualization of institutional activity and breakout detection directly on the price ladder, aiding in detailed tape reading and volume-based market analysis. It requires tick data and outputs visual signals including level touches, breaks, and reversals.