POC level MT5
The indicator automatically calculates and displays the level of the maximum real volume Point Of Control (POC) of the Market Profile for the array of candles highlighted by a rectangular area. This will significantly increase the accuracy of your position entries when trading POC bounces and reversals.
Attention when testing the demo version! In the MT5 strategy tester, there is no possibility of dragging a rectangle and this is a problem of limitations of the MT5 strategy tester itself :( When buying and installing on a real chart of the MT5 terminal, everything works great.
To obtain a rectangular area, click on the button of the indicator panel of the required color. To get the Point Of Control (POC) level, drag the rectangle onto the array of candles on the chart.
The Point Of Control levels of candlesticks flat and accumulation are ideal places to enter a position, as when working with a trend, the probability of a rebound from the POC level is much higher than the probability of a breakout.
The level is calculated using real chart volumes when trading futures, etc. In the absence of real volumes, the calculation is performed using the tick volumes of the MetaTrader 5 terminal.
- Shows the level of the maximum volume of the market profile specified in the manual rectangular area - Point Of Control (POC).
- The indicator works on any pairs, cryptocurrencies and timeframes.
- The indicator does not load the processor of your computer, since it calculates only at the moment of creating a level.
- When working with a trend, the probability of a rebound from the POC level of hourly accumulations is more than 65% for all major pairs.
- If there are no real volumes on the chart, the indicator will calculate the level based on tick volumes.
- Rectangle 1 color - color of button 1 and the created rectangle
- Rectangle 2 color - color of button 2 and the created rectangle
- Rectangle color fill - fill the created rectangle with color
- Point of control (true) / Midline (false) - calculate POC or average line
- Sound enable - sound on buttons
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I would appreciate your feedback and any feedback on improving the product.