Market Profile TPO MT4
- Indicators
- Thiago Pereira Pinho
- Version: 2.4
- Activations: 20
The MarketProfileTPO indicator for MetaTrader 5 is a powerful tool designed to bring the Market Profile concept, based on Time Price Opportunity (TPO) analysis, directly onto your main chart window. This indicator calculates and displays the price distribution over a specified period, highlighting key areas of market activity and concentration.
It is particularly optimized for high-volatility instruments like NAS100, US30, and XAUUSD when used on the M1 (1-minute) timeframe, offering a detailed perspective on intraday market structure and trading activity.
Key Features & Components
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TPO-Based Market Profile: Calculates the distribution of time spent at each price level within a defined session (TPO Period).
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Point of Control (POC): Clearly identifies the price level with the highest concentration of TPOs (most time spent), serving as a crucial reference for market consensus.
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Value Area (VA): Automatically determines the price range where a significant percentage of trading activity occurred (default is 70%), defined by the Value Area High (VAH) and Value Area Low (VAL).
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Visual Profile: Displays the price distribution as a graphical profile, where the length and color intensity of the horizontal lines are proportional to the TPO count at each price level.
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Optimization for Volatility: Includes a customizable Price Step parameter to accurately group price levels based on the instrument's point value, ensuring precision for different markets.
