An ongoing discussion that the demands far more time than is necessary involves the appropriateness of employing either the Volume based or Time based Profile. I suggest you make your own decision after reviewing both side-by-side, on your own platform; no matter what you decide there is never a single, simple answer.
Personally, I give more emphasis to the TPO profile because 
I believe that it provides a more accurate representation of the auction process by its inclusion of time in conjunction with volume. Additionally, it smooths some aberrations when there is high volume at the opening price, the closing price and other static references such as the prior pit session high and low or the overnight high and low.
What the volume Profile does not show is far more important to the way I trade. I believe it is the more ambiguous combination of time and volume rather than volume alone, which provides me with the best information, clearly volume is important but so is time.
I believe the fascination with the volume profile is that it removes the ambiguity of time leaving you with exactness. You will see exactly how much volume occurred at each price, as well as relative volume along with total contract value.
A recap of the continuous two-way auction process;
- PRICE – advertises all opportunities.
- TIME – regulates all opportunities.
- VOLUME – measures the success or failure of the advertised opportunities.
CONCLUSION – Volume is only one element to consider within a trading day; too many traders I have talked to rely to exclusively on volume. Among the other important considerations are;
- Value; where is it developing – higher, lower, overlapping, etc.
- Rotational trading days
- Trend day.
- What timeframe is in control; this is extremely important.
- One time framing
- Short covering
- Long liquidation