MarketLens
- Indicators
- Version: 1.37
- Activations: 5
MarketLens — price structure, volume and trend on the same chart
MarketLens is an indicator for MetaTrader 5 that brings together in a single window information usually checked in separate tools: support and resistance levels calculated from recent history, the volume profile of the selected interval, a trend reading on two timeframes, and a set of resources to help read the chart.
The indicator does not open, modify or close trades. It only draws information on the chart.
How it works
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Support and resistance levels. The indicator searches for relevant highs and lows in the history of the selected period, groups nearby prices and draws horizontal lines with the name of each level. The text of each level is written beside the line. When two lines are close or at the same price, the texts are placed in columns to the right and to the left so that they remain readable.
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Volume profile. The indicator calculates the volume distribution by price range in the selected interval: number of bars, number of hours or trading session. The price range with the highest volume is marked as Point of Control, and the region holding most of the volume is marked as Value Area, with an upper and a lower limit. In the session option, the Point of Control of the previous session is also drawn as a fixed reference for the day.
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Trend reading. One block evaluates the price direction on two timeframes. The larger timeframe uses daily and weekly data; the smaller one uses the current chart and the one-hour chart. Each block compares price with averages, slope and position inside the range, and produces a direction text, a strength measure and a verdict of agreement between the two timeframes. The reading is confirmed on bar close.
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Information panel. A panel in the chart corner shows symbol, timeframe, current price, day change, spread and server time, with buttons to switch each block on and off.
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Chart tools. Button panel to switch the blocks on and off, high and low zigzag, Fibonacci, bar counter that restarts after a session gap, watermark, candle timer, spread display and light and dark theme.
Features
- Works on any symbol and on any timeframe available at the broker.
- Uses no external libraries and no network connections.
- Does not open, modify or close trades.
- Objects use their own prefix and do not interfere with other indicators on the chart.
- Texts, colours, widths and number of levels are adjustable in the inputs.
- Behaviour is the same on a demo account and on a live account.
- Each input has a short description in the indicator properties window.
Input parameters (summary)
- Object prefix: name used for the objects created by the indicator.
- Calculation symbol: allows calculating on a symbol other than the chart symbol.
- Levels: number, minimum distance in price steps, colours and widths.
- Labels: show or hide, font size, label side when levels coincide and minimum vertical distance between labels.
- Volume profile: enable, calculation interval, number of price ranges, Value Area percentage and colours.
- Trend: enable larger and smaller block, average periods and strength limits.
- Panel: position, font, colours and light or dark theme.
- Tools: zigzag, Fibonacci, bar counter, watermark, candle timer and spread.
- Diagnostic log: optional log file.
Notes
- This product is an analysis indicator. It does not execute trades and does not replace your own decision.
- The indicator draws levels and readings from the history available in the terminal. The result depends on the quality of the broker data.
- Past observations do not guarantee future results.
- The Market demo version runs only in the Strategy Tester.
- Requires MetaTrader 5. No special account configuration is needed.
Showcase text (under 200 characters)
Indicator for MetaTrader 5 that combines support and resistance levels, volume profile, trend reading and chart tools in one window. It does not execute trades.
