The indicator is recommended for traders who use the market profile in trading.
The BoxInside indicator calculate the volume profile for each candle and places labels on the candles that correspond to the VAH, VAL and POC levels. The color of the POC label is selected as the aggregate comparison of the horizontal volume value at the POC levels on other candles on the chart.
The indicator works on the timeframes from M5 to MN, but it uses the history data of other periods:
- M1 - for periods from M5 to H1,
- М5 - for the H4 period,
- H1 - for the D1 period,
- H4 - for the W1 period,
- D1 - for the MN period,
therefore, make sure to download the history of all periods via Service->History Center, or just by scrolling the history against the stop. If there are no data, the indicator will display the corresponding message and perform plotting from the place where the history is available.
The indicator performs all calculations only in the chart view area but you can scroll the chart to the history. During scrolling the chart, the POC labels on the candles "flicker", it's ok because the indicator re-sorts horizontal volumes.
Values of volumes at the POC levels are compared and sorted with an increment of 1/6, that is, in the end we have eight color gradations. The color matching for the gradations can be configured using color variables: LowestBoxColor - up to 1/6, LowBoxColor - up to 2/6, MiddleBoxColor - up to 3/6, MediumBoxColor - up to 4/6, HighBoxColor - up to 5/6, HighestBoxColor - up to 6/6 of the maximum accumulations in the visible area of the chart view. If you do not want to display any of these gradations, choose its color the same as the chart background color.
The color and location of the POC label on the last candle are considered ti be correct only near the Close time of the candlestick.
Description of Other Variable
- BoxStepPoint - fixed horizontal calculation grid step. It is set in "old" points, its minimal value is 0, its maximum is 500. If set to zero, the calculation step is taken from theBoxStepPointPix variable.
- BoxStepPointPix - dynamic step of the horizontal calculation grid. Set in pixels, minimum value is 1, maximum value is 5.
- BoxPriceArea - box price area in percents, the default value is 75%. If set to zero, the VAH and VAL labels are not displayed.
- ModeLine - in this mode the VAH, VAL and POC labels are connected by lines. The POC is displayed using the HighestBoxColor color.
- NoVolumes - when this mode is enabled, volume of each candle used for calculation is assumed to be equal to its spread in points. The resulting profiles are calculated according to the TPO principle.
- VALColor - color for the VAL labels or for the line connecting the VAL labels.
- VAHColor - color for the VAH labels or for the line connecting the VAH labels.
Fixed error which only allowed return data for the iCustom function during the first call of the indicator.
Designation of the indicator line indexes:
0 – LowestBox
1 – LowBox
2 – MiddleBox
3 – MediumBox
4 – HighBox
5 – HighestBox
6 – Val
7 – Vah
The VAH and VAL levels do not disappear in the ModeLine mode, and are also displayed as lines. If they need to be hidden, set the value of the BoxPriceArea variable to zero.
Display of VAH/VAL values of the price area can be disabled now by setting BoxPriceArea to zero.
The number of price gradations has been reduced to 6, so the step is now 1/6 of the maximum accumulation in the visible chart view area.
The indicator now displays the position of the maximum POC, the relative value of POC maximums (according to the color gradation) on various candlesticks, the price area VAH/VAL, and can be used for trading not only the "VSA" method but also "Market Profile".
Default settings are recommended.