Indicator displays the Market Profile charts for the daily trading sessions painting different time sessions in gradient colors. Draw value area and point of control (median).

Traders tend to return to those areas if the volume of the breakout movement isn’t too high. High-volume breakout out of these areas signifies a real breakout.

 

Should be attached to M5, M15 or M30 timeframes. M30 is recommended.

Designed for standard currency pairs. May work incorrectly with very exotic pairs, CFDs or commodities.
Be careful: it will delete all rectangle objects on the chart upon deinitialization.

Indicator parameters:

StartFromDate – specify a date from when it should draw market profile histograms

StartFromToday (true/false) – if set to true the start day is ‘today’. Set to false if you want to use with StartFromDate value

DaysToCount – how many days back to process

ColorScheme (0,1,2) – different color schemes for gradients

MedianColor, ValueAreaColor – colors for median and value area

Download market-profile mt4 indicator

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