Fixed Range Volume Profile MT5

Introduction to Fixed Range Volume Profile MT5

Key Features

• Displays Market Profile for various sessions (daily, weekly, monthly, intraday).
• Supports lower timeframes for higher precision and higher timeframes for better visibility.
• Free-draw rectangle session for custom market profiles.
• Six different color schemes for profile blocks.
• Option to draw profiles as a plain color histogram or based on bullish/bearish bars.
• System of alerts for price crossing specific levels (Value Area high and low, Median, Single Print zones).

Input Settings

• StartFromDate: If StartFromCurrentSession is false, the indicator will start drawing profiles from this date.
• Session: Defines the trading session for market profile (Daily, Weekly, Monthly, Intraday, Rectangle).
• StartFromCurrentSession: If true, the indicator starts drawing from today; else, from the date given in StartFromDate.
• SeamlessScrollingMode: Allows scrolling back in time indefinitely to view past sessions.
• ValueAreaPercentage: Percentage share of the session's TPOs to include in the Value Area.
• SessionsToCount: Number of trading sessions to draw the market profiles.
• EnableDevelopingPOC: If true, multiple horizontal lines depict how the Point of Control developed through the session.

Benefits for Traders

• Identifies significant support and resistance levels.
• Highlights potential areas of high trading activity.
• Aids in making more informed trading decisions.
• Provides a clear visual representation of market behavior.

Use Cases

• Day Traders: Utilize lower timeframes for precise entry and exit points.
• Swing Traders: Analyze weekly and monthly profiles for broader market trends.
• Scalpers: Leverage the free-draw rectangle session for custom and quick market profiles.

Conclusion