Market Profile

[jagg]

Another feature addition could be to add a parameter to show/hide the TPO profile (histogram) at all?
Let's say I want only see the VAH/VAL and POC - but not the profile itself (with its thousands of rectangles 😉)

90c91
---
> input bool           ShowHistogram            = true;     // Show TPO profile/histogram?
1095c1096,1097
<                 PutDot(price, sessionstart, range, bar - sessionstart, rectangle_prefix);
---
>                 if (ShowHistogram)
>                    PutDot(price, sessionstart, range, bar - sessionstart, rectangle_prefix);
1104c1106
<         if (ShowSinglePrint)
---
>         if ((ShowSinglePrint) && (ShowHistogram))

 

[Enivid]

You can attain something like that now by setting the color scheme to single color and setting the single color to clrNone. However, adding a dedicated input parameter could be beneficial for improved performance as this would reduce the number of chart objects dramatically.

 

[jagg]

You can attain something like that now by setting the color scheme to single color and setting the single color to clrNone. However, adding a dedicated input parameter could be beneficial for improved performance as this would reduce the number of chart objects dramatically.

yes - clrNONE is ok for the visual part but nevertheless the hundreds/thousands of rectangle objects get created (in the background).

 

[noobzai202]

You can attain something like that now by setting the color scheme to single color and setting the single color to clrNone. However, adding a dedicated input parameter could be beneficial for improved performance as this would reduce the number of chart objects dramatically.

Hey Enivid, firstly I want to thank you for this indicator its great! But i have a few suggestions to make it even more perfect. I am looking for a feature thats available in Sierra Chart which is merging the value areas or the profile. For example, day 1 and day 2 has overlapping value areas so u merge them up to have a combined value area. It will be great! Secondly, I want to ask if the profile is available in TPO letters?

 

[Enivid]

For example, day 1 and day 2 has overlapping value areas so u merge them up to have a combined value area.

This should be attainable with rectangle sessions.

Secondly, I want to ask if the profile is available is TPO letters?

No, and I don't think I will ever do it.

 

[noobzai202]

This should be attainable with rectangle sessions.


No, and I don't think I will ever do it.

Ahh why dont u wanna do it haha because with TPO letters you can know whether its a strong high or weak high. Regarding rectangle sessions, so when i see overlapping value areas, i just use the tool to highlight the parts that are overlapping then it will merge them?

 

[Enivid]

Ahh why dont u wanna do it haha because with TPO letters you can know whether its a strong high or weak high.

It would require rewriting the code so that the indicator works with a fixed scale chart. This is like coding it from scratch.

Regarding rectangle sessions, so when i see overlapping value areas, i just use the tool to highlight the parts that are overlapping then it will merge them?

I am not quite sure what you mean by overlapping value areas, but if you switch MP to Rectangle session (or just add a second one with Rectangle session type), you will be able to draw sessions that span any number of bars and price points.

 

[noobzai202]

It would require rewriting the code so that the indicator works with a fixed scale chart. This is like coding it from scratch.



I am not quite sure what you mean by overlapping value areas, but if you switch MP to Rectangle session (or just add a second one with Rectangle session type), you will be able to draw sessions that span any number of bars and price points.

For example this, from the first capture u can see 4 days profile the value areas overlap with each other so we can combine them into one composite structure as seen in capture 2. Do u understand me now?

 

[Enivid]

Yeah, you can just draw a rectangle spanning four days and it will display a single combined 4-day profile in that case.

 

[jagg]

Simply add onther MarketProfile indicator variant to your chart > set it to "Rectangle" Mode and draw a rectangle (named "MPR") over your mentioned 4 day period

 

[noobzai202]

Ahhh thank you all for helping out! This is so useful and free! Sierra Chart requires payment every month haha

 

[Warray]

Thanks Enivid for the great indicator...I am not good in mql programming to edit the source codes of the indicator to suit my preference...if someone here can add the necessary codes to make the volume histogram start from right to left especially for rectangle mode its would be very appreciated..or someone can give me the codes to add in also would be great.

 

[Enivid]

Thanks Enivid for the great indicator...I am not good in mql programming to edit the source codes of the indicator to suit my preference...if someone here can add the necessary codes to make the volume histogram start from right to left especially for rectangle mode its would be very appreciated..or someone can give me the codes to add in also would be great.

That isn't a simple change. I will consider to add that as an option in the next version. What happens to other MP elements in a right-to-left version - rays and value printouts?

 

[Warray]

That isn't a simple change. I will consider to add that as an option in the next version. What happens to other MP elements in a right-to-left version - rays and value printouts?

Thanks Enivid for your attention. The existing element of the MP just work fine..sometimes I just need to clear my chart vision for other price behaviour element to be evaluated ..so I think by putting the histogram far on right to left would be good idea for that purpose.

 

[Double o7]

This Market Profile for MT5 is not functioning like the MT4. Canone give me the exe5. version.

 

[Double o7]

Thanks for the reply. This is the link to the Market Profile: https://www.earnforex.com/indicators/MarketProfile/

The MT5 version is not showing when I attach it to the chart. Even after I have compile it through the Meta Editor (see the image below). Please can you look into it. The MT5 file should be .exe5.

 

[Enivid]

@Double o7 It looks like your MarketProfile compiled well. What exactly happens when you add it to a chart? What is the output in the Experts tab when you add it?

 

[emc320]

Hi Envid, AWESOME indicator, thank you for your work on this.

Would you be willing to pair a consolidation box finder indicator with the MarketProfile indicator?
I have been using it in conjunction with this consolidation finder that I adjusted to have box output names "MPR".
It helps me find consolidation zones that are not strictly in any session and are areas of magnets and rebound.
Ideally the Rays would extend out until touched by price but I can't get the 2 indicators to
1. reliably leave the market profile on at all times (it flickers then comes off)
2. reliably leave the rays to extend (flickers once then comes off)

 

[Enivid]

@emc320 This happens because your indicator calls RemoveObjects() on each new tick. It is best to rewrite that indicator so as to remove objects when this is really needed. However, as a quick workaround to this problem, you can just change the prefix in that indicator from "MPR" to "MPRS" (or something else). It will stop messing with the MarketProfile objects then.

 

[emc320]

ok will try, thanks for the fast reply!