M
Market Profile
- Thread starter Enivid
- Start date
- Watchers 75
Please make sure you downloaded the latest version from the website because MetaTrader 5 is still getting a lot of updates, which may create bugs in previously working MT5 indicators. The latest version of MarketProfile should work fine with the latest build of MT5.
Please also remember that the indicator only works on M5, M15 and M30 timeframes.
Could you please show some screenshots and the input parameters that you use? I can't reproduce such behavior.
Although, it's called Median in the code and in the input parameters, in fact it's a Mode - the price with the maximum number of TPOs. I named it Median, because, if there are several price levels with the same number of TPOs, the one closest to the center of the range will be chosen.
Sorry, I do not code for money, but I will consider making any reasonable changes and bugfixes to my indicators.
Problems
Hello, thank you very much for that indicator.
There is a minor problem as soon as MarketProfile is on one chart. The bear candles are filled with green. The bar down color remains the same.
If I delete the indicator the candles are shown in their intended colors.
I using MT5 on a Win7 64bit machine.
Hello, thank you very much for that indicator.
There is a minor problem as soon as MarketProfile is on one chart. The bear candles are filled with green. The bar down color remains the same.
If I delete the indicator the candles are shown in their intended colors.
I using MT5 on a Win7 64bit machine.
I don't quite understand your problem. Could you please attach a screenshot showing what is happening?
Sorry for the delayed reply. The small picture shows the effect with MarketProfile.
I can live with it, perhaps there is a fix for it. No question: great indicator. Thank you very much for sharing!
[/URL] Uploaded with ImageShack.us[/IMG]
I can live with it, perhaps there is a fix for it. No question: great indicator. Thank you very much for sharing!
Market Profile Time Frames
Hi Enivid,
I'm very pleased to have found your Market Profile Indicator. Its the best I've found for MT4. It helps me identify better entry opportunities and definitely helps me stay with a winning trade longer.
My question is similar to Jedster's about having a Market Profile for longer time frames than just a day. His suggestion seems good or perhaps even a weekly market profile that could be displayed on a 1 hour or 4 hour chart and a monthly profile that could be displayed on a 4 hour and daily chart? I'm just curious as to if you have had a chance to look at this? Thanks.
Hi Enivid,
I'm very pleased to have found your Market Profile Indicator. Its the best I've found for MT4. It helps me identify better entry opportunities and definitely helps me stay with a winning trade longer.
My question is similar to Jedster's about having a Market Profile for longer time frames than just a day. His suggestion seems good or perhaps even a weekly market profile that could be displayed on a 1 hour or 4 hour chart and a monthly profile that could be displayed on a 4 hour and daily chart? I'm just curious as to if you have had a chance to look at this? Thanks.
Yes, you can share this indicator as long as you do not claim its authorship and provide a backlink to the original source.
Hi Enivid,
thank you for sharing this indicator with us. I just have a question for you. At the moment the indicator is using 00:00 as the start of the trading day and not 08:00 (i trade from london in GMT). Does this matter when using this indicator?
Secondly, i have read the ebooks on market profile, but can;t figure out if i am supposed to use the previous days value area for today's trading or should i use today value area? seeing as today's value area is being developed throughout the day it seems to make sense that i use the previous days value area, but in a strong trend environment, those levels are not likely to be reached. Am i missing something here?
Thank you.
thank you for sharing this indicator with us. I just have a question for you. At the moment the indicator is using 00:00 as the start of the trading day and not 08:00 (i trade from london in GMT). Does this matter when using this indicator?
Secondly, i have read the ebooks on market profile, but can;t figure out if i am supposed to use the previous days value area for today's trading or should i use today value area? seeing as today's value area is being developed throughout the day it seems to make sense that i use the previous days value area, but in a strong trend environment, those levels are not likely to be reached. Am i missing something here?
Thank you.
Currently, you cannot set the time shift in the indicator and I am not sure how difficult it can be do code. However, you can open a demo account with a broker that operates in the timezone with 0:00 coinciding with your 8:00 and use it to run Market Profile analysis.
Use the previous day's value area during early trading session, switch to the current one when it becomes more or less formed.
Hi Enivid,
I absolutely love your Market profile Indi as it fits perfectly my trading style.
If you don't mind, I changed 2 small things.
- new property to enable/disable the timeframe Alert, which could be annoying.
- Made the graph "dots" non selectable.
Please feel free to remove my post if inappropriate.
Thanks again,
Patrick.
I absolutely love your Market profile Indi as it fits perfectly my trading style.
If you don't mind, I changed 2 small things.
- new property to enable/disable the timeframe Alert, which could be annoying.
- Made the graph "dots" non selectable.
Please feel free to remove my post if inappropriate.
Thanks again,
Patrick.
Thanks for sharing your modification. I think some traders will find it useful!
By the way, I am going to transfer your second change to my version as well. 🙂
By the way, I am going to transfer your second change to my version as well. 🙂
It means the price range covered by the bars in a given timeframe.
High - Low.
There is nothing common with the tick volume.
Hello,
First thank you for sharing this indicator.
I want to ask what is the best time frame to use with this indicator? I guess 30 minutes time frame chart?
Is there a way how to count TPO's above and below POC(median) line, as described in book's for Market Profile and in the picture below? if there is no way is it possible to add such a feature.
Best regards,
First thank you for sharing this indicator.
I want to ask what is the best time frame to use with this indicator? I guess 30 minutes time frame chart?
Is there a way how to count TPO's above and below POC(median) line, as described in book's for Market Profile and in the picture below? if there is no way is it possible to add such a feature.
Best regards,
Attachments
Depends on the type of the session you are using it for, but I'd apply it on the lowest timeframe possible. Currently, there is no way to show the TPO counts that way. But you can assess their relative quantity by visual observation.
