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New Market Profile Indicator — Focus on Stability and Performance

May 28, 2018 by

Upon receiving quite a lot of feedback and suggestions on further improvement of the Market Profile indicator, I have finally managed to prepare the new version — 1.08. The latest build is now more robust than ever:

  • Smart color calculation prevents “overflows”, making the color of the profile’s blocks change smoothly and gradually.
  • Moreover, it is now possible to use a single-color profile.
  • PointMultiplier parameter lets you increase the size of the profile’s building blocks from their default of one point. This greatly improves indicator’s performance when attached to trading instruments with many decimal places in their quotes.
  • To reduce the indicator’s load on your computer, you can also use the new ThrottleRedraw input parameter. It sets the delay for processing new price information into the profile.
  • The previous session’s Median (Point of Control) can now be set as a ray — it will be extended into the right side of the chart.
  • Previously, trading instruments with 6+ decimal places could lead to incorrect display of market profiles. This has been fixed in this release.
  • The indicator will no longer remove itself from the chart in case wrong combination of timeframe and session is set. This will help to preserve user modified inputs from resetting.

Here you can see an example of an intraday market profiles with one monochrome and one colored session and extended Medians:

Market Profile with Ray Medians (POCs)

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.

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