The volume-by-price indicator is called Volume Profile in Tradingview. I call the peaks in the profile “Peak Liquidity Levels” or short PLL. My way of reading and interpreting this indicator requires a very high price resolution. Tradingview allows to have 5000 increments on any given price axis and is still relatively fast with the background calculation. The indicator loses a lot of it’s significance if the exact levels can’t be pin-pointed due to a insufficient resolution. I used to distinguish between bearish and bullish volume but this info did not help me identify the path of least resistance in any consistent manner, hence I dropped it.
Where to find it in Tradingview (They did a great job at hiding it in plain view):
My settings:
