ProfileVolumesMarket

The ProfileVolumesMarket indicator calculates tick volume on each price level in a selected range. Volume is vital when determining strength and therefore significance of price levels. The calculation range is set by a trader by means of moving two vertical lines. Thus the indicator allows to track important levels on different steps of a symbol price formation. A histogram of volume profile can be displayed on the chart (or removed from the chart) if you press "ON" ("OFF") button. When you change the chart period, the indicator calculation range changes as well which is ideal when estimating accuracy of levels on lower timeframes. The "||" button limits the indicator calculation to the visible area of the current chart. The histogram color is determined by position of the current price relatively to the maximum level. The shift and ratio parameters allow customizing the histogram. There are two modes of indicator calculation. In the ModeTimer mode, the indicator calculation is based on the signal generated by the internal system timer, which allows working with it even when the market is closed. In the ModeTick mode, the indicator is recalculated every minute, which allows tracking the current changes in the volume and checking the indicator operation in test mode. The indicator automatically checks for "holes" in the history of quotes and selects the smallest timeframe with the full history as the basis, while the corresponding information is displayed in the comment.

Indicator Inputs

• Set_Mode - select the indicator calculation mode.
• ColorLevelNon - histogram color if the current price is equal to the level of maximum volume.
• ColorLevelBull - histogram color if the current price is above the level of maximum volume.
• ColorLevelBear - histogram color if the current price is below the level of maximum volume.
• ColorLineFrom - color of the vertical line of the indicator calculation range beginning;
• ColorLineTo - color of the vertical line of the indicator calculation range end;
• coeff - coefficient of the histogram display setting.
• ShiftBars - the number of bars to shift the histogram to the left.
• ShowComment - show the comment if there are "holes" in the quotes history of the smallest timeframe.