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mjackson

Guest
Market profile indicator that I use has stanard deviations which I use to indentify supply and demand levels. There are three standard deviations and excess on the chart...It shows daily market profile's standard deviations (...I turned off market profile...)
 

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Enivid

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Nov 30, 2008
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I cannot get the indicator to work properly in Metatrader 5.

First, it draws the market profile sometimes, other times it just doesn't do anything.

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.

Second, when the indicator does draws the market profile, it seems it uses random times for day start and end times. Example, today's market profile chart starts at 16:00 and ends at 11:00, yesterday's ended at 12:00. On other days it ends at 13:00.

Could you please show some screenshots and the input parameters that you use? I can't reproduce such behavior.

Third, you are calculating the Point of Control as if it were the Median. It is not the Median but the Mode that makes the Point of Control.

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.

Can you make a better one and how much would you charge for it?

Sorry, I do not code for money, but I will consider making any reasonable changes and bugfixes to my indicators.
 

Lexington

Trader
May 6, 2013
2
0
12
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.
 

Lexington

Trader
May 6, 2013
2
0
12
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!


06052013214908.png
[/URL] Uploaded with ImageShack.us[/IMG]
 

klwalls

Trader
Apr 3, 2014
1
0
12
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.
 

pale_ale

Trader
Feb 17, 2016
1
0
7
37
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.
 

Enivid

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Staff member
Nov 30, 2008
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www.earnforex.com
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?

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.

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?

Use the previous day's value area during early trading session, switch to the current one when it becomes more or less formed.
 

vspatrick

Active Trader
May 13, 2016
2
2
44
53
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.
 

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bm0899

Trader
Mar 28, 2016
10
0
7
44
Thanks Enivid. Can you please elaborate what does "price movement" means? How do you calculate price movement? and What is the difference to tick volume?
 

Enivid

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splus

Trader
Oct 17, 2016
1
0
7
45
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.
open


Best regards,
 

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Enivid

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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.