Discussing the article: "Building a Liquidity Spectrum Volume Profile Indicator in MQL5"
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Check out the new article: Building a Liquidity Spectrum Volume Profile Indicator in MQL5.
Build a Liquidity Spectrum Volume Profile in MQL5 that allocates volume to equal price bins over a chosen lookback using candle close prices. The guide covers data retrieval with copy functions, binning and normalization, and drawing rectangles and POC lines with chart objects and time offsets to reveal high-activity liquidity zones on the chart.
In this project, we are building a Liquidity Spectrum Volume Profile Indicator in MQL5. The main purpose of this indicator is to visualize how trading volume is distributed across different price levels within a specified lookback period. Instead of only showing price movement or a single volume value, the indicator breaks the market into multiple price ranges (bins). It then calculates how much volume occurred within each bin and represents that information visually on the chart. Each bin reflects a specific price zone, and its volume determines how wide and prominent it appears. Strong volume areas become wider and more visible, while weaker areas remain smaller. In addition, the indicator identifies high-volume zones known as the Point of Control (POC), which represent the most active price levels where the highest trading activity occurred.
These POC levels are drawn as horizontal lines to highlight key liquidity areas where the market is most likely to react.
Author: ALGOYIN LTD