A coded light modulation arrangement, adapted to be connected between a driver and an LED, the coded light modulation arrangement comprising: - input terminals adapted to connect to the driver and to receive a drive current (I DRIVE); - a data input interface adapted to receive a data stream, said data stream comprising a sequence of binary symbols comprising a logic high and a logic low; characterized in that the coded light modulation arrangement further comprises: - an energy storage arrangement comprising a number of energy storage devices (E1, E2); - a switch arrangement comprising a number of switches (S1, S2) arranged to connect the energy storage devices (E1, E2) of the energy storage arrangement; - a switch configuration selector adapted to control the switches (S1, S2) of the switch arrangement in order to modulate the drive current (I DRIVE) and to provide a modulated drive current (I LED, I LO, I HI) to the LED, wherein the switch configuration selector is adapted to control the switches (S1, S2) such as to select: - a charging switch configuration corresponding to the logic low, whereby the energy storage arrangement is adapted to receive a negative modulation current (I NEG) diverted from the drive current (I DRIVE) such that the modulated drive current (I LO) is defined as the difference between the drive current (I DRIVE) and the negative modulation current (I NEG), wherein the LED is adapted to emit a low radiant flux level and the energy storage arrangement is adapted to store an energy of the diverted current; and - a discharging switch configuration corresponding to the logic high, whereby the energy storage arrangement is adapted to release the energy stored as a positive modulation current (I POS) and to add the positive modulation current (I POS) to the drive current (I DRIVE) such that the modulated drive current (I HI) is defined as the sum of the drive current (I DRIVE) and the positive modulation current (I POS), wherein the LED is adapted to emit a high radiant flux level; the coded light modulation arrangement further comprising: - output terminals adapted to connect to the LED and to provide the modulated drive current directly to the LED to emit the low and high radiant flux level as coded light (L coded) so as to be received by a photosensor of a coded light receiver device. - input terminals adapted to connect to the driver and to receive a drive current (I DRIVE); - a data input interface adapted to receive a data stream, said data stream comprising a sequence of binary symbols comprising a logic high and a logic low; - an energy storage arrangement comprising a number of energy storage devices (E1, E2); - a switch arrangement comprising a number of switches (S1, S2) arranged to connect the energy storage devices (E1, E2) of the energy storage arrangement; - a switch configuration selector adapted to control the switches (S1, S2) of the switch arrangement in order to modulate the drive current (I DRIVE) and to provide a modulated drive current (I LED, I LO, I HI) to the LED, wherein the switch configuration selector is adapted to control the switches (S1, S2) such as to select: - a charging switch configuration corresponding to the logic low, whereby the energy storage arrangement is adapted to receive a negative modulation current (I NEG) diverted from the drive current (I DRIVE) such that the modulated drive current (I LO) is defined as the difference between the drive current (I DRIVE) and the negative modulation current (I NEG), wherein the LED is adapted to emit a low radiant flux level and the energy storage arrangement is adapted to store an energy of the diverted current; and - a discharging switch configuration corresponding to the logic high, whereby the energy storage arrangement is adapted to release the energy stored as a positive modulation current (I POS) and to add the positive modulation current (I POS) to the drive current (I DRIVE) such that the modulated drive current (I HI) is defined as the sum of the drive current (I DRIVE) and the positive modulation current (I POS), wherein the LED is adapted to emit a high radiant flux level; - a charging switch configuration corresponding to the logic low, whereby the energy storage arrangement is adapted to receive a negative modulation current (I NEG) diverted from the drive current (I DRIVE) such that the modulated drive current (I LO) is defined as the difference between the drive current (I DRIVE) and the negative modulation current (I NEG), wherein the LED is adapted to emit a low radiant flux level and the energy storage arrangement is adapted to store an energy of the diverted current; and - a discharging switch configuration corresponding to the logic high, whereby the energy storage arrangement is adapted to release the energy stored as a positive modulation current (I POS) and to add the positive modulation current (I POS) to the drive current (I DRIVE) such that the modulated drive current (I HI) is defined as the sum of the drive current (I DRIVE) and the positive modulation current (I POS), wherein the LED is adapted to emit a high radiant flux level; - output terminals adapted to connect to the LED and to provide the modulated drive current directly to the LED to emit the low and high radiant flux level as coded light (L coded) so as to be received by a photosensor of a coded light receiver device.