Bookmap pro
- Indicatori
- Ahmed Mohammed Bakr Bakr
- Versione: 1.0
Overview
The Bookmap Volume Heatmap is a custom MetaTrader 5 (MQL5) indicator that creates a visual heatmap of trading volume distribution across price levels, similar to professional trading platforms like Bookmap. It provides traders with a clear visualization of where significant trading activity has occurred within a specified price range.
Key Features
1. Volume Distribution Visualization
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Creates color-coded rectangles on the chart representing volume intensity at different price levels
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Uses a grid system with configurable number of price levels (default: 50)
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Color gradient indicates volume intensity:
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Dark Blue: Low volume (0-25%)
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Blue: Medium volume (25-50%)
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Yellow: High volume (50-75%)
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Red: Maximum volume (75-100%)
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2. Customizable Parameters
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GridLevels: Number of price levels to analyze (10-100 recommended)
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BarsToAnalyze: Historical bars to process for volume calculation
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Color Scheme: Fully customizable colors for different volume intensities
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Transparency: Adjust transparency of heatmap overlay
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Panel Display: Toggle information panel on/off
3. Information Panel
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Real-time statistics display including:
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Number of bars analyzed
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Total price levels
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Price range
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Total volume
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Maximum volume per node
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High volume nodes count (>70% of max volume)
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POC (Point of Control) - price level with highest volume
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Color legend for volume intensity
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4. Technical Implementation
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Memory Efficient: Uses object-based drawing rather than indicator buffers
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Automatic Updates: Timer-based refresh (every second)
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Chart Integration: Properly cleans up objects on deinitialization
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Price Range Detection: Dynamically calculates min/max prices from analyzed bars
How It Works
Volume Calculation Process:
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Price Range Detection: Identifies highest and lowest prices from analyzed bars
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Grid Creation: Divides price range into equal segments (GridLevels)
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Volume Distribution: Distributes each bar's volume across price levels it touched
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Intensity Normalization: Calculates relative volume intensity (0-100%)
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Visual Rendering: Draws colored rectangles based on volume intensity
Key Algorithms:
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Volume Accumulation: Aggregates volume at each price level
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POC Detection: Identifies price with maximum volume concentration
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Dynamic Scaling: Automatically adjusts to current price range
Trading Applications
1. Support/Resistance Identification
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High volume nodes indicate significant support/resistance levels
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Price levels with maximum volume (red zones) often act as key turning points
2. Volume Profile Analysis
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Understand where volume is concentrated in the current price range
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Identify volume voids (low volume areas) for potential breakout targets
3. Market Structure Analysis
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Visualize volume distribution across the price range
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Identify accumulation/distribution zones
4. Trade Entry/Exit Points
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High volume areas can provide better liquidity for entries/exits
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Low volume areas may indicate stop-loss hunting zones
Advantages
Compared to Traditional Volume Indicators:
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Spatial Context: Shows volume relative to price levels, not just time
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Visual Clarity: Color gradients make volume distribution immediately apparent
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Historical Context: Shows volume profile over specified bar history
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Multi-timeframe Analysis: Works on any timeframe while showing historical accumulation
