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Market Profile
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Our guide HERE will help you. This is one of the most advanced indicators available to retail traders.
MARKET PROFILE Metatrader Indicator For Mt4
It is based on a state-of-the-art Forex trading algorithm that is specifically designed to identify high probability price movements. Market Profile Indicator for MetaTrader 4. Improved, easy to use, and highly effective Market Profile indicator for free With our Market Profile indicator, you will be able to simply explore where heavy Price Action is happening in a market Very accurate analysis of Price Action and the most important price levels Useful for all markets forex, commodities, stocks, indices and others and timeframes Compatibility: MetaTrader 4 Monthly updated for free.
How to trade with the Market Profile indicator profitably:.
Forex Market Profile Indicator
Market Profile MetaTrader indicator — is a classic Market Profile implementation that can show the price density over time, outlining the most important price levels, value area, and control value of a given trading session. This indicator can be attached to timeframes between M1 and D1 and will show the Market Profile for daily, weekly, monthly, or even intraday sessions.
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Lower timeframes offer higher precision. Higher timeframes are recommended for better visibility.
New Trader Guide To Using Indicators And Expert Advisors
It is also possible to use a free-draw rectangle session to create a custom market profile on any timeframe. Six different color schemes are available to draw the profile's blocks. Drawing profiles as a plain color histogram is also possible. This indicator is based on bare price action and does not use any standard MetaTrader indicators.
It is available for both MetaTrader 4 and MetaTrader 5 platforms. The chart screenshot shows market profiles calculated and displayed for two daily Forex trading sessions.
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The timeframe is M30 and the right-hand daily session is still in progress. The earliest prices are blue and the latest prices are red.
The medians and the value areas are marked with the white lines and display the most important price areas. Traders tend to return to those areas if the volume of the breakout movement is not too high. High-volume breakout out of these areas signifies a real breakout. The example below demonstrates how the Market Profile can be colored according to the direction of each bar in the session rather than its age.
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