Volume Profil MT5
- Indicators
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Vincent Jose Proenca
I’ve been a trader for over ten years, mainly specializing in CFDs. What I love about trading is the logic, the discipline, and the process of creating tools that simplify decision-making. Since I couldn’t find indicators that fit my approach, I started coding them myself, first out of necessity - Version: 2.0
- Activations: 5
Summary
An interactive volume profile indicator that displays a horizontal analysis of traded volume at each price level within a selected area. It automatically creates a movable rectangle and shows colored bars representing bullish and bearish volume distribution.
What it does:
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Displays horizontal volume: Visualizes the volume distribution at each price level as horizontal bars
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Bullish/Bearish analysis: Colors bars in green (bullish-dominant volume) or red (bearish-dominant volume)
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Interactive rectangle: Automatically updates when you move the selection rectangle
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Automatic creation: Generates a default rectangle at startup for immediate use
How it works:
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Zone selection: A rectangle (created automatically or manually) defines the analysis zone (time + price)
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Volume distribution: Divides the price range into levels (configurable resolution) and distributes the volume of the selected candles
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Smart coloring: Analyzes each level to determine whether bullish or bearish volume dominates
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Dynamic display: Bars are automatically redrawn when the chart is moved, zoomed, or scrolled
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Optional filter: Can filter candles based on their body or full wick (vertical filter)
Main settings:
Rectangle
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RectangleName: Reference rectangle name (default: "VolumeRect")
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AutoCreateRectangle: Automatically create the rectangle on startup
Visual
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MaxBarWidthPixels: Maximum bar width (default: 120 pixels)
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PriceLevels: Resolution = number of analyzed price levels (default: 50)
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ColorUp / ColorDown: Colors for bullish (green) and bearish (red) volume
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OffsetLeftPixels: Distance between the rectangle and the bars (10 pixels)
Filtering
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IncludePriceFilter: Enables the vertical price filter
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PriceFilterMode:
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None (0): All candles
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Body (1): Filter based on the candle body only
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Full-Wick (2): Filter based on the entire candle (including wicks)
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Update
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UpdateMode: Update mode (OnDrag = on movement / Timer = automatic)
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TimerIntervalMs: Refresh interval in timer mode (500ms)
Why it's useful:
Identify high-activity zones: Instantly spot price levels with concentrated volume (POC - Point of Control)
Analyze market sentiment: Differentiate between bullish (green) and bearish (red) accumulation zones to anticipate price reactions
Dynamic support/resistance: High-volume levels often act as strong support or resistance zones
Flexible analysis: Move the rectangle to analyze any time range or price range without reconfiguring the indicator
Institutional trading insight: Reveals where large volumes were traded, highlighting institutional interest zones
Complement to traditional volume: Provides a lateral (horizontal) view compared to time-based volume histograms
Available versions: MT4 (.mq4) and MT5 (.mq5) – identical features
