Market Volume Profile Modes MT4

Market Volume Profile Modes MT4 is an analytical indicator that displays the distribution of traded volume across price levels directly on the chart. For a given price range, it divides the vertical price span into a configurable number of rows and accumulates tick volume into each row, then renders the result as horizontal histogram bars. Each row is split into a bullish and a bearish portion based on whether the contributing candles closed up or down, so the buying and selling share of activity at each level is shown separately.

The indicator offers eight calculation modes selected through a single input. Fixed Range mode adds a clickable on-chart button that creates a draggable rectangle; you position or resize the box and the profile recalculates for the bars it covers, which is useful for studying a specific swing or consolidation. Visible Range mode builds the profile from the bars currently shown in the chart window and updates as you scroll or zoom. The remaining modes build one profile per period automatically: Session (daily), Weekly, Monthly, Hourly, 4-Hour, and a Custom mode that groups a fixed number of bars you specify. A maximum-profiles setting limits how many recent periods are drawn, and optional divider lines mark where one period ends and the next begins.

From the accumulated distribution the indicator derives three reference levels. The Point of Control marks the price row with the highest volume. The Value Area High and Value Area Low bound the central band of rows that together hold the chosen percentage of total volume, seventy percent by default. Each of these lines can be shown or hidden individually, and a master switch toggles all of them at once; the histogram bars themselves can also be turned off so only the levels remain.

Input parameters let you set the number of rows, the profile width as a percentage of the period, the gap between bars, the value area percentage, and the side of the period on which the histogram is drawn. Colours, line widths and line styles for the bullish and bearish bars, the Point of Control, the Value Area boundaries, the range rectangle and the session dividers are all configurable, as are the position, size and colour of the Fixed Range buttons. The indicator works on any symbol and timeframe and uses tick volume as its data source.

A common approach is to run one of the periodic modes to observe where volume has concentrated over recent sessions, or to use Fixed Range and Visible Range to examine a chosen area in more detail. The reference levels can be read together with your own method as areas of prior trading interest.

This is an analytical indicator; it does not open, modify or close orders. Please test it on a demo account first and manage your own risk. If you find this indicator useful, a rating or review is appreciated. For questions or feature requests, please use the Comments section of this product page.