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BoxInside MT4

This indicator calculates the volume profile and places labels that correspond to the VAH, VAL and POC levels, for each candle individually.


Indicator operation features

The indicator works on the timeframes from M5 to MN, but it uses the history data of smaller periods:

  • M1 - for periods from M5 to H1,
  • M5 - for the H4 period,
  • M30 - for the D1 period,
  • H4 - for the W1 period,
  • D1 - for the MN period.

The color and location of the VAL, VAH and POC labels on the current candle are considered to be correct only near the Close time of the candlestick.


Inputs

  • BoxStepPoint - fixed step of profile calculation grid. It is set in "old" points, a value of 0.1 correspond to one "new" point.
  • BoxStepPointPix - dynamic step of profile calculation grid, in monitor pixels.
  • BoxPriceArea - box price area in percents.
  • AreaType - price area calculation method:
    • OfPocND - normal distribution relative to the POC level.
    • OfTotalVolume - distribution based on the amount of volume traded in the profile.
  • VolumeType - type of volumes used in the calculations:
    • Tick - tick volumes.
    • Real - real volumes, if broadcasted by the broker.
    • Without - ignore volumes, calculation according to the TPO principle.
  • DrawingMode - display mode:
    • Arrows - in the form of labels for the VAL, VAH and POC levels on each candle.
    • Curves - in the form of curves connecting the VAL, VAH and POC levels on each candle.
  • BarsLimit - limit on the number of candles for plotting the profile.
  • VALColor - color for the VAL labels or for the curve connecting the VAL labels.
  • VAHColor - color for the VAH labels or for the curve connecting the VAH labels.
  • LowestBoxColor, LowBoxColor, MiddleBoxColor, MediumBoxColor, HighBoxColor, HighestBoxColor - group of variables that define the color for the labels of the POC levels, depending on the volume at each of these levels.
fxcommentary
1207
fxcommentary 2018.04.06 11:57   

This one tool is really good. 1. I recommend using "POC-line" as an alternative to any moving average. 2. Another thing is that user can quickly judge the AMOUNT of volume in any day comparing to previous days and LOCATION of that VOLUME. Great simple friendly tool!

Version 1.8 2018.07.18
The ModeLine input variable has been replaced with DrawingMode.
The NoVolumes input variable has been replaced with VolumeType.
Added the AreaType input variable, which defines the price area calculation method.
Added the BarsLimit input variable, which limits the number of candles to be used in calculations.
Version 1.7 2017.03.14
The grid step BoxStepPoint has been adjusted for trading symbols using integer quotes.
Fixed error which only allowed return data for the iCustom function during the first call of the indicator.
Version 1.6 2016.12.06
The data from the indicator buffers is now available to be read via the iCustom() function.
Designation of the indicator line indexes:
0 – LowestBox
1 – LowBox
2 – MiddleBox
3 – MediumBox
4 – HighBox
5 – HighestBox
6 – Val
7 – Vah
Version 1.5 2016.06.02
Changed the algorithm of sorting by color. The colors of the POC levels are now more steady and stable when scrolling the chart.
Version 1.4 2016.05.24
The indicator now works on the MN timeframe.
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.
Version 1.3 2016.03.25
New function: ModeLine. В In this mode, the indicator is drawn as a line bound to POC levels of virtual profiles of each candlestick. This is kine of a "fair price". The color of the line is set in the HighestBoxColor parameter.
Version 1.2 2015.11.05
Improved algorithm for sorting accumulations.
Display of VAH/VAL values of the price area can be disabled now by setting BoxPriceArea to zero.
Version 1.1 2015.09.24
Since the indicator builds a virtual profile of every candlestick, display of the upper and lower price borders VAL and VAH on candlesticks has been added. A new variable has been introduced for this BoxPriceArea, it defines the size of the price area, the default value is 80%.
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.