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.
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
Indicator draw market-profile style histogramdata for a selected period, after you set two vertical lines. All you have to do is add indicator to the chart and add two vertical lines.
The indicator show real volume levels (vertical!) for forex and futures, it works with external data that should be downloaded manually from trading-evolution.com website flesh applet.
– top 3 last trading day volume
– top 3 current week volume
– top 3 last week volume
– top 3 contract levels
First line (the first one top volume) is drawn as solid line, so you can simply identify it, even more if you will hold your mouse under the line you will see description (see attached picture) “pw1=7180”, this mean “previous week 1st volume line = 7180 lots”
Indicator shows total volumes for all this periods, with the same colors as lines for them.
It can play sound alert when price will step into one of the lines.
Input parameters are:
Indicator emulates volume histogram and drawing histogram in 3 different colors – for different sessions, they are Asia, Europe and USA. Also draw TPO line.
Input parameters are:
StartDate – from where to begin (optional parameter)
CountProfile – how many days to show
Asia – color for Asia session
Europe – color for Europe session
America – color for America session
Moda – color for maximum volume