Discussing the article: "Bimodal Market Profile with Delta and Memory in MQL5"

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Check out the new article: Bimodal Market Profile with Delta and Memory in MQL5.

The classic Market Profile from forty years ago is still replicated in dozens of indicators that differ only in the color of their bars. In this article, I examine three conceptual blind spots in the original theory — the monolithic Value Area in bimodal distributions, TPO’s blindness to the aggressor, and the lack of memory between sessions — and build an indicator that addresses each of them: bimodality detection with a dead zone, order flow via CopyTicksRange with absorption detection, and composite market memory using Naked POC and HVN/LVN. The complete source code is included.

The market has long since outgrown the need for “yet another Market Profile” with a different color scheme — what it needs is a working tool that preserves Steidlmayer’s logic but stops misleading traders in modern trading regimes.

This article is intended for MQL5 developers, algorithmic traders, and advanced manual traders. We use tick data for exchange-traded instruments (CopyTicksRange with aggressor flags) and a bar-based fallback for Forex to build a solution suitable for integration into trading logic. We identify three practical blind spots in the classic MP:

  1. a monolithic VA and a single POC in bimodal sessions,
  2. a lack of information about the aggressor at specific levels,
  3. session isolation and lack of memory.

For each problem, we provide a formalized solution that can be implemented in MQL5. The final package includes a reference profile (pairwise VA), a bimodality detector with a dead zone and a secondary POC, a Delta Profile with absorption signals, and Composite Memory with exponential decay — all in a modular architecture designed for performance.


Author: Galym Yechshanov

InpCompositeSessions, InpShowNakedPOCs – there’s no such thing in the settings or the code
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