Volume Profile Indicator for MT4/MT5

Volume Profile is a very useful indicator — it allows you to spot the price levels where important price action took place. It is similar to support and resistance levels but with a different logic.

Volume Profile indicator for MT4/MT5 presented below will show you the concentration of price action at the various price levels.

And the best thing is that you can download this MetaTrader indicator for free!

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What is Volume Profile indicator?

Volume Profile indicator (also called Market Profile in some cases) is a handy tool for checking price action on a chart.

One of the first thing that traders mark up when analyzing a chart is support and resistance. Volume Profile can be used for doing that too.

Not only Volume Profile allows you to spot support and resistance levels, it also highlights prices where there was heavy price action in the past.

Knowing that some prices had important activity in the past can significantly help setting up trades, stop-losses, and take-profits for your future trades.

The indicator scans the defined number of previous bars and calculates the volume of activity at each price level.

The result is presented through a vertical histogram chart — the longer the histogram is, the more activity at that price level was.

You can set the indicator to display the volume profile up either to the current, most recent candle, or to some previous date.

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Installation Instructions for MT4

To install the MT4 Volume Profile indicator, please follow the instructions below:

1. Download the indicator archive file.
2. Open the MetaTrader 4 data folder (via File->Open Data Folder).
3. Open the MQL4 Folder.
4. Copy all the folders from the archive directly to the MQL4 folder.
5. Restart MetaTrader 4 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.

Or you can read a more detailed instruction on how to perform the installation.

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Installation instructions for MT5

To install the MT5 Volume Profile indicator, please follow the instructions below:

1. Download the indicator archive file.
2. Open the MetaTrader 5 data folder (via File->Open Data Folder).
3. Open the MQL5 Folder.
4. Copy all the folders from the archive directly to the MQL5 folder.
5. Restart MetaTrader 5 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.

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Volume Profile indicator parameters

Once you download and install the indicator using the instructions above, you can run it and configure its parameters, including the calculation properties and display style.

Some of the indicator's input parameters are described below:

• Volume Profile Calculation Timeframe: Select a timeframe for candles that will be used in volume profile calculation.
• Value to Use for Calculation: Can be one of three options:
  1. CANDLE WHOLE: The entire candle from its low to its high is used for volume profile calculation.
  2. CANDLE OPEN: Only open prices are used.
  3. CANDLE CLOSE: Only close prices are used.
• Use Volume in Calculation: Select whether to include tick volume in calculation or not. If false, only price information is used to build a profile.
• Steps in Points: How many price points to include in one histogram line? The higher the value the lower the precision but the faster calculation.
• Show Volume Profile up to: Where will the starting vertical line be placed? Can be either most recent candle or manual selection.
• Calculate with Previous (Number of Units): How many minutes/hours/days/weeks to use to build the profile.
• Calculate with Previous (Type of Units): Either minutes, hours, days, or weeks to define the profile's time range.
• Window Width Multiplier: A multiplier to increase the histogram size if necessary.

The input parameters are the same for MT4 Volume Profile and for MT5 Volume Profile.

Discussion

Do you have any suggestions or questions regarding this indicator? You can always discuss Volume Profile with other traders and coders on the indicators forum.

Changelog

1.01 — 2025-06-19

• Added an output buffer with the Point of Control (POC) value to be read by expert advisors or other indicators via iCustom().
• Added an input parameter to control the delay between histogram updates when it is set to the most recent candle.
• Fixed a crashing error when there are too few bars on the chart. The indicator will now calculate a profile for the existing bars.
• Changed the vertical line to not reset its position on timeframe change in manual mode.
• Refactored code and improved its performance.