The Smart Profile indicator utilizes the classical concept of the Market Profile.
A classical Market Profile provides visual structure of the market activity, which reflects actions of all time periods and market participants. Gain a significant advantage over your competitors due to a better understanding and benefit from the market reaction to the fundamental information - before the market reacts, and the opportunity is lost.
Additional Features of the Indicator
- Setting the time period for the current timeframe automatically or manually;
- Setting the Time Offset from GMT in automatic or manual mode;
- Displaying profiles without breaking, i.e. only profiles without the price chart;
- Combining day and/or session profiles;
- Splitting the profile of a trading day to trading sessions and/or bars;
- Representing a profile in the classical form or as characters or as a histogram;
- Color highlighting of sessions, days, weeks, months, etc.;
- POC (Point of Control) lines: they can be used as reliable support/resistance lines;
- Profile Median lines: they can be used as support/resistance lines;
- Value Area of the profile: upper and lower lines of the area can also be used as support and resistance lines;
- Smart support/resistance lines: the colors of all of the above lines can change when they cross the price (which indicates their breakthrough);
- The Initial Balance area: it can be calculated separately for each timeframe;
- Displaying OHLC for the profile lifetime;
- A universal way of setting the time of splitting a day to trading sessions, taking into account daylight saving time in the country;
- Enable/disable daylight saving time on the specified dates for each trading session;
- In this version - making up the summary profile for the specified period on the right side of the price chart.
2. Renamed the parameter ModeExpanded in ShowSummaryProfile.
3. Added the parameter ShowOnlySummaryProfile which allows you to disable the display of the profiles on the chart, at the same time showing the right side of the summary profile for the specified number of periods specified by the parameter LookBack.
Added parameter: NewVariant, if true, uses new variant of the calculation with the stable intervals; if false - the old, where it is preferable.