BoxProfile MT5 operates based on the nesting principle, displaying volume profiles with pre-set periods. Each subsequent profile has a length twice as long as the previous one, providing a comprehensive view of market dynamics. In addition to profiles, the software also presents volume clusters, sorted by color based on the volume they contain. This allows traders to identify significant support and resistance levels.
Indicator Operation Features
The indicator works on typical timeframes from M5 to MN, utilizing historical data from smaller timeframes for accurate calculations. It recalculates whenever there are changes in chart scale, scrolling, timeframe switching, or the appearance of a new candle. This ensures real-time analysis and up-to-date information for traders.
Input Variables
BoxProfile MT5 offers various input variables to customize the analysis according to individual preferences. These include:
ProfileStepPoint: Fixed clustering step along the price axis.
ProfileStepPointPix: Dynamic clustering step along the price axis in pixels.
ProfilePriceArea: Size of the value area.
ProfileAreaMode: Method for calculating the value area.
BoxStepPoint: Similar to ProfileStepPoint, but for volume clusters.
BoxStepPointPix: Similar to ProfileStepPointPix, but for volume clusters.
BoxExcessRemove: Function to hide unnecessary clusters.
BoxDensity: Function to enable cluster calculation mode as volume concentration per unit of time.
VolumesType: Type of volumes used in calculations.
LowestBoxColor, LowBoxColor, MiddleBoxColor, MediumBoxColor, HighBoxColor, HighestBoxColor: Variables determining the color of clusters based on volume value.
Frequently Asked Questions (FAQ)
Q: Which timeframes does BoxProfile MT5 support?
BoxProfile MT5 works on typical timeframes from M5 to MN, providing flexibility for traders to analyze various market conditions.
Q: How does BoxProfile MT5 calculate volume profiles?
BoxProfile MT5 calculates volume profiles based on the nesting principle, with each subsequent profile having a length twice as long as the previous one. This allows for a comprehensive analysis of market trends.
Q: Can BoxProfile MT5 display volume clusters?
Yes, BoxProfile MT5 not only displays volume profiles but also presents volume clusters sorted by color, indicating the volume they contain. This helps traders identify significant levels of support and resistance.
Q: Are there any customization options available in BoxProfile MT5?
Yes, BoxProfile MT5 offers various input variables that allow traders to customize the analysis according to their preferences. These variables include clustering steps, value area size, calculation methods, and volume types.
Independent Testing and Updates
If you are interested in independent testing of BoxProfile MT5, you can visit the forexroboteasy.com website. There, you will find comprehensive reviews and updates on the results of testing this software. Stay informed and make the most out of your trading experience.
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