P, b and D profile shapes explained
The shape of a day's volume profile is a quick summary of who was in control. Three shapes appear again and again: the P, the b and the D.

P-shaped profile
Most volume sits in the upper part of the day's range, with a thin tail below. It looks like the letter P. It usually forms when price moves up early and then builds value near the highs. Often it reflects short covering or buyers in control during the session.
b-shaped profile
Most volume sits in the lower part of the range, with a thin tail above – like the letter b. It usually forms after a drop that then builds value near the lows. Often it reflects long liquidation or sellers in control.
D-shaped profile
Volume is spread evenly with the POC near the middle – a balanced day. Neither side took control. Balanced days often lead to a move out of balance later, but the direction is not known in advance.
What to watch the next day
- After a P day, traders watch whether price holds above the P's value area or falls back into the thin tail below.
- After a b day, they watch whether price stays below the b's value area or moves back up through the thin tail above.
- A P or b followed by a D can show that the one-sided move is pausing and the market is building balance at the new level. The edges of that new value (VAH, VAL) and the POC become the levels to watch.
Shapes are context, not signals
A shape tells you what happened. It does not tell you what will happen. Use it together with the levels it creates (POC, VAH, VAL, thin areas) and wait for a clear reaction on a closed candle.
See it on a live chart
Sniper Pro V2 and BTC Snipers Institutional Activity draw these levels and setups for you on TradingView.
Educational content only. Not financial or investment advice. Trading crypto derivatives carries a high risk of loss. See the risk disclaimer.