Volume Profile Indicator for mt4

 

Volume Profile indicator shows the volume accumulation data as a histogram on the y-axis providing an ability to find out the trading activity over specified time periods and price levels.

Real Volume vs Tick Volume

Getting the real volume data for retail traders is very difficult due to the decentralized nature of the spot FX market. If your broker provides the real volume data of an asset, The KT Volume Profile indicator can process the information using the real volume. Otherwise, it will use the tick volume that is generally provided by most of the FX brokers.

Point of Control (POC) in a Volume Profile

POC represents a price level that coincides with the highest traded volume within the whole volume profile histogram. POC is mostly used as a support/resistance or as an essential price level where market retest before going in a specific direction.

Features of KT Volume Profile Indicator

• Very easy to use. Just drag n drop the rectangle anywhere on chart to update the volume profile data in real-time.
• It can provide alerts when price crosses the POC.
• A volume profile indicator coded from scratch that uses least CPU resources and memory.
  
  

Input Parameters

• Volume Source:  Tick Volume/Real Volume.
• Volume Profile Color:  Color of the volume profile histogram.
• Volume Profile Box Width:  Width of the rectangle box.
• Volume Profile Box Color:  Color of the rectangle box.
• Show Point of Control (POC):  true/false
• POC Color:  Color of the POC level.
• POC Style:  Style of the POC level.
• POC Width:  Width of the POC level. 
• Alert Settings:  self explanatory.