This indicator calculates the volume profile and places labels that correspond to the VAH, VAL and POC levels, for each candle individually.
Indicator operation features
The indicator works on the timeframes from M3 to MN, but it uses the history data of smaller periods:
- M1 - for periods from M3 to H1,
- M5 - for periods from H2 to H12,
- M30 - for the D1 period,
- H4 - for the W1 period,
- D1 - for the MN period.
The color and location of the VAL, VAH and POC labels on the current candle are considered to be correct only near the Close time of the candlestick.
- ValueArea - box price area in percents.
- ValueAreaType - price area calculation method:
- OfPocND - normal distribution relative to the POC level.
- OfTotalVolume - distribution based on the amount of volume traded in the profile.
- VolumesType - type of volumes used in the calculations:
- Tick - tick volumes.
- Real - real volumes, if broadcasted by the broker.
- Without - ignore volumes, calculation according to the TPO principle.
- DrawingMode - display mode:
- Dots - in the form of labels for the VAL, VAH and POC levels on each candle.
- Curves - in the form of curves connecting the VAL, VAH and POC levels on each candle.
- BarsLimit - limit on the number of candles for plotting the profile.
- VALColor - color for the VAL labels or for the curve connecting the VAL labels.
- VAHColor - color for the VAH labels or for the curve connecting the VAH labels.
- LowestBoxColor, LowBoxColor, MiddleBoxColor, MediumBoxColor, HighBoxColor, HighestBoxColor - group of variables that define the color for the labels of the POC levels, depending on the volume at each of these levels.
The clustering step along the price axis is now assigned automatically.
The indicator is compiled in MT5 build 2650.