Market Profile Indicator for MetaTrader 4
- Improved, easy to use, and highly effective Market Profile indicator for free
- With our Market Profile indicator, you will be able to simply explore where heavy Price Action is happening in a market
- Very accurate analysis of Price Action and the most important price levels
- Useful for all markets (forex, commodities, stocks, indices and others) and timeframes
- Compatibility: MetaTrader 4
- Monthly updated for free
How to trade with the Market Profile indicator profitably:
The indicator uses for its calculation the most accurate tick data - every single move of a market. Based on this, the Market Profile indicator creates the histogram. The histogram simply shows at what price levels and zones heavy trading activity and Price Action is happening. Thanks to this indicator, you will always immediately know the most important price levels and zones for future price moves in any market.
Based on the Market Profile's histogram, you can easily see where the most important price moves and trading activity is located. The highest values of the histogram serve as the most important price levels in a market. You can simply plan your trades, or Stop-Loss / Profit-Targets thanks to our Market Profile indicator. In a conjunction with other tools , very powerful trading systems can be made.
When attaching the indicator to your chart in the MetaTrader 4 trading platform, you have to choose time / price range that will be used for calculations of the Market Profile indicator.
Every time you will attach the Market Profile indicator into your chart, it will create the rectangle highlighting the price / time range used for calculations. To resize it, use the middle point of the rectangle (highlighted in the picture below) and simply drag it to left or right.
As soon as you will move with the middle point of the rectangle, the indicator should get updated and resize the rectangle based on a price range that you would like to analyze. If it doesn't, simply right-click in your chart and choose "Refresh".
It is also recommended to set " Histogram: Max Resolution" to true to see the whole range of the indicator's calculations.
With our Market Profile indicator, you will gain an important advantage in your trading as you will see the most important price levels that other traders usually don't. And you will be able to easily spot price levels where the most Price Action is happening and at what price levels the market tends to arrive over and over again.
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.