LevelsHunter MT5

LevelsHunter MT5 – Volume Profile and Key Levels Indicator

Purpose
The indicator displays tick volume distribution across price levels over a specified number of recent bars. It is designed to identify volume accumulation zones and significant support and resistance levels.

Key Elements of the Indicator

• POC (Point of Control) – the price level with the highest volume, where the largest number of transactions occurred during the analysed period.

• VAH (Value Area High) – the upper boundary of the price zone that contains a specified percentage of total volume.

• VAL (Value Area Low) – the lower boundary of the price zone that contains a specified percentage of total volume.

• Previous day’s high and low.

Signal Interpretation

• A test of the POC level may indicate a possible reversal.

• A sustained price move above VAH or below VAL may suggest the start of a new movement.

• A bounce from previous day levels can be used within trend-following or counter-trend strategies.

Configuration Parameters

• Number of bars to analyse (default: 96)

• Number of price levels (default: 50)

• Volume percentage for Value Area calculation (default: 70%)

• Toggle volume profile display, POC line colour, Value Area line colour, previous day levels colour

• Show/hide information panel on the chart

Implementation Features

• The indicator does not repaint (calculation is performed once per bar close).

• Works on any timeframe and trading symbol.

• No external DLL libraries are used.

• The information panel provides a brief description of each level.

Installation Requirements
Download the LevelsHunter.mq5 and attach it to a chart.