Market Profile 3 ForexArby com

Market Profile 3 ForexArby com

Market Profile 3 MetaTrader 5 indicator version 4.70— is a classic Market Profile implementation that can show the price density over time, outlining the most important price levels, value area, and control value of a given trading session. This indicator can be attached to timeframes between M1 and D1 and will show the Market Profile for daily, weekly, monthly, or even intraday sessions. Lower timeframes offer higher precision. Higher timeframes are recommended for better visibility. It is also possible to use a free-draw rectangle session to create a custom market profile on any timeframe. Six different color schemes are available to draw the profile's blocks. Drawing profiles as a plain color histogram is also possible. Alternatively, you may choose to color the profile based on bullish/bearish bars. This indicator is based on bare price action and does not use any standard indicators.

A system of alerts is available for price crossing the levels of Value Area high and low, Median, and Single Print zones.

Input parameters

Main

• Session (default = Daily) — trading session for market profile: Daily, Weekly, Monthly, Intraday, and Rectangle. For a rectangle session to get calculated, a rectangle chart object with the name starting with MPR should be added to the chart. Pressing 'r' on the keyboard will add a properly named rectangle object automatically.
• StartFromDate (default = __DATE__) — if StartFromCurrentSession is false, then the indicator will start drawing profiles from this date. It draws to the past. For example, if you set it 2018-01-20 and SessionsToCount is 2, then it will draw the profiles for 2018-01-20 and 2018-01-19.
• StartFromCurrentSession (default = true) — if true, then the indicator starts drawing from today, else — from the date given in StartFromDate.
• SessionsToCount (default = 2) — for how many trading sessions to draw the market profiles.
• SeamlessScrollingMode (default = false) — if true, the StartFromDate and StartFromCurrentSession parameters are ignored; the sessions are calculated and displayed starting from the current chart position's rightmost bar. This allows scrolling back in time indefinitely to view past sessions.
• EnableDevelopingPOC (default = false) — if true, multiple horizontal lines will be drawn to depict how the Point of Control developed through the session.
• ValueAreaPercentage (default = 70) — a percentage share of the session's TPOs to include in the Value Area.

Intraday sessions

• EnableIntradaySessionN (default = true) — if true and  Session is set to Intraday, then the indicator will attempt to drawn the intraday market profile #N on the chart.
• IntradaySessionNStartTime (default = "HH:MM") — start time in HH:MM format for the intraday session #N.
• IntradaySessionNEndTime (default = "HH:MM") — end time in HH:MM format for the intraday session #N.
• IntradaySessionNColorScheme (default = Blue_to_Red) — color scheme for the intraday session #N.