Summary of 🚨Range Volume Profile Indicator for MetaTrader 4/5 Download - Free - [TradingFinder]

The video presents a detailed tutorial on the Range Volume Profile Indicator available for MetaTrader 4 and MetaTrader 5, downloadable for free from the TradingFinder website. This indicator helps traders analyze the volume distribution across different price ranges on a chart, enhancing decision-making based on volume concentration at specific price levels.

Main Financial Strategy and Business Trend:

• Volume Profile Analysis: Traders use the indicator to identify price levels with the highest trading volume, which often act as support or resistance zones.
• Range Selection: By adjusting vertical lines on the chart, traders can customize the price range to analyze volume within a specific timeframe or price segment.
• Volume Reaction Insight: The indicator shows how price reacts to high-volume zones, helping traders anticipate potential reversals or continuation points.

Methodology / Step-by-Step Guide to Using the Indicator:

• Download and Installation:
  • Download the indicator file for MT4/MT5 from the TradingFinder website.
  • Load the indicator from the Navigator section in MetaTrader.
  • Drag the indicator onto the chart and enable “Allow DLL Imports” in the settings.
• Using the Indicator:
  • Two vertical lines can be moved on the chart to select the price range for volume analysis.
  • The indicator displays a histogram showing volume distribution within the selected range.
• Input Settings Customization:
  • Calculation Mode: Choose from three modes:
    • Use two vertical lines for a custom range.
    • Display volume for the last few minutes automatically.
    • Fixed range mode where one line moves and volume updates accordingly.
  • Distance Between Lines: Set the timeframe or price range (default 14 bars/40 minutes, adjustable).
  • Histogram Bar Size: Adjust the size of the volume bars.
  • Scale Coefficient: Choose a multiplier (1, 10, or 100) to scale histogram bars.
  • Data Source: Select from tick charts or timeframes (1 min, 5 min, 15 min, 30 min).
  • Histogram Style: Choose from five visual styles for the histogram.
  • Display Position: Position the histogram on the left/right or inner/outer parts of the chart window.
  • Color Customization: Set colors for primary and secondary histograms, maximum volume line, median line, and volume point of control (VPOC) line.
  • Line Size and Style: Adjust thickness and style (plain, flat, etc.) of the maximum, median, and VPOC lines.
• Interpreting the Indicator:
  • The maximum volume line highlights the price level with the highest traded volume.
  • Price often reacts to these high-volume zones, which can indicate potential support or resistance.

Conclusion:

The video concludes by encouraging users to provide feedback and suggestions, highlighting the indicator’s flexibility and usefulness for volume-based trading strategies.

Presenter / Source:

• The tutorial is presented by TradingFinder (no individual presenter named).

Notable Quotes

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Category

Business and Finance

Video