The Price Histogram (Market Profile) and its implementation in MQL5
A long time ago, looking through a magazines subscription I have found an article "Market Profile and understanding the market language" (October, 2002) in the Russian journal "Valutny Spekulant" (At present time it called as "Active Trader"). The original article has been published in "New Thinking in Technical Analysis: Trading Models from the Masters".
The Market Profile was developed by trully brilliant thinker Peter Steidlmayer. He found the natural expression of the market (volume) and organized it in a way that is readable (the bell curve), so that objective information generated by the market is accessible to market participiants. Steidlmayer has suggested to use the alternative representation of information about "horizontal" and "vertical" market movements that leads to completely different set of models. He assumed that there is an underlying pulse of the market or a fundamental pattern called the cycle of equilibrium and disequilibrium.
Market Profile measures the horizontal market movement through the vertical one. Let's call that "equillibrium" through "disequillibrium". This relationship is the fundamental organizing principle of the market. A trader's whole style of trading may change depending on what part of the equilibrium/disequilibrium cycle the market is in. Market Profile can determine both when the market is going to shift from equilibrium to disequilibrium and how big the move is going to be.
This is good indicator on this post (made by MrTools) - Market Profilex (the indicator is on this post to download)
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William Snyder, 2011.02.06 07:05
Market Profilex draws market profile and some sort of pivots from the profile!
How to use market statistics histogram
Sergey Golubev, 2018.12.06 16:52
The thread (and the theory as a Word file inside zip archive on the first post of the thread) -
i copied and pasted it in my mql indicators folder but still here no market profile seen on chart , can anyone help me in this .
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I deleted your contact information from your post.Why?Because there are a lot of indicators uploaded to this thread, and it is very old thread created 13 years ago.Millions people are reading this forum ... and you did not tell them about the following:
So, sorry - your post is a spam.Seems, you do not care about the people and care about yourself only.
Boxing Horizontal Profile - indicator for MetaTrader 4