Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

Arbitrary Rectangle Sessions with Market Profile Indicator

July 14, 2020 by

Today a new version of Market Profile indicator for MetaTrader 4 and 5 has been released. There are three main additions to the indicator this time:

The biggest one is the rectangle sessions. They are enabled by setting the Session input parameter to Rectangle and adding any rectangle object to a chart (you would also need to rename it to “MPR” or “MPR“). The rectangle can then be dragged and resized as you like, producing a new market profile on each redraw:

Market Profile - Rectangle Sessions

Single print marking using either additional blocks to the right of the one-TPO profile regions or drawing frames to the left side:

Market Profile - Single Print Highlighting on the Left Side Market Profile - Single Print Highlighting on the Right Side

Prominent medians (PPOC) — medians that contain a significant share of potential TPOs — can now be highlighted too. Here, the prominent median (ProminentMedianPercentage set to 50) is highlighted with yellow color:

Market Profile - Prominent PPOC Highlighting

You can get the code of the MT5 and MT4 versions or read more info about this market profile indicator.

If you find any bugs in this MetaTrader indicator or if you want to make a suggestion regarding its functionality, please use the commentary form below.

Leave a Reply

required
required (will not be published)