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Right Side Histogram Display for Market Profile Indicator

December 7, 2020 by

Another feature update of the Market Profile indicator has been released today. There are three main big changes in the new version of the indicator:

Right-hand drawing of the market profile histogram is now available. To enable it, you have to set RightToLeft input to true. For all trading session types except Rectangle, it will switch the display only for the current session’s market profile from left-to-right to right-to-left. For Rectangle session type, it will change the display for all sessions. Here is a short demonstration:

Market Profile indicator - right-to-left histogram for the current trading session

A histogram can now be completely disabled via DisableHistogram. It will considerably increase the speed of the indicator’s calculations but it will still enable you to perform some market profile analysis using the value areas and the medians for all sessions.

Market Profile with histogram turned off on monthly sessions

PointMultiplier parameter is now automatic by default. When its value is set to 0, the indicator will try to adapt the actual multiplier based on the number of digits in the symbol’s quotes. This will result in near-optimal performance even when you attach Market Profile to such trading instruments as BTC/USD or US30 Index CFD.

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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