Marketprofileshadow
- Indicatori
- Versione: 1.0
- Attivazioni: 5
MarketProfileShadow is a session-based volume profile indicator for MT5 that visualizes the distribution of traded volume within defined trading sessions. The indicator calculates and plots the Point of Control (POC), Value Area High (VAH), and Value Area Low (VAL), while visually highlighting the Value Area.
The indicator is performance optimized and updates active sessions only every 5 minutes, while completed sessions are no longer recalculated.
Application Notes
MarketProfileShadow was primarily designed for the 5-minute chart (M5) and provides its most meaningful results in terms of market acceptance, volume distribution, and session analysis on this timeframe.
The indicator can generally be used up to M30. However, as the timeframe increases, the significance of session profiles gradually decreases, since multiple market phases and trading activities become increasingly blended.
Using the indicator on timeframes above M30 is therefore not recommended, unless the main focus is on Value Area Low (VAL), Value Area High (VAH), or the Point of Control (POC).
Note: The volume profile is based on tick volume. The indicator is intended solely for visualizing market acceptance, liquidity zones, and potential support and resistance levels. It does not provide standalone trading signals.
Settings
LookbackDays
Number of historical days for which volume profiles will be displayed.
PriceStepPoints
Defines the resolution of the volume bins in points. Higher values reduce the number of price levels and improve performance.
ValueAreaPercent
Defines the percentage of total traded volume that constitutes the Value Area. By default, 70% of the traded volume is included.
MaxProfileWidthPercent
Specifies the maximum width of the volume profile relative to the duration of the corresponding session.
BaseUTCOffsetHours
Timezone offset used to adapt session times to local time. For example, Germany corresponds to UTC+2 during summer time and UTC+1 during winter time.
Display Settings
ShowVolumeProfile
Enables or disables the display of the volume profile.
ShowVAH_VAL_POC
Enables or disables the display of VAH, VAL, and POC.
Session Settings
Custom trading hours can be defined for each session.
Asia Session
UseAsiaSession
Enables or disables the Asia session.
AsiaStart
Start time of the Asia session.
AsiaEnd
End time of the Asia session.
London Session
UseLondonSession
Enables or disables the London session.
LondonStart
Start time of the London session.
LondonEnd
End time of the London session.
New York Session
UseNewYorkSession
Enables or disables the New York session.
NewYorkStart
Start time of the New York session.
NewYorkEnd
End time of the New York session.
Volume Profile Settings
VolumeProfileColor
Base color of the volume profile.
FillVolumeProfile
Enables or disables the filled profile display.
VolumeFillTransparency
Transparency level inside the Value Area.
OutsideValueAreaTransparency
Transparency level outside the Value Area. This allows the Value Area to be visually emphasized.
WeakVolumeTransparency
Transparency level for low-volume areas.
StrongVolumeTransparency
Transparency level for high-volume areas.
VolumeProfileSmoothSteps
Determines the smoothness of the profile. Higher values create a smoother appearance but require additional processing power.
POC / VAH / VAL Settings
POC_Color
Color of the Point of Control.
VAH_Color
Color of the Value Area High.
VAL_Color
Color of the Value Area Low.
POC_Transparency
Transparency level of the POC line.
VAH_Transparency
Transparency level of the VAH line.
VAL_Transparency
Transparency level of the VAL line.
