Summary of "📊Volume Profile Indicator for MT4/5 Download – Free – [TradingFinder]"
The video presents a detailed tutorial on the Volume Profile Indicator available for download on the TradingFinder website for Metatrader 4 and 5 platforms. This indicator is designed to help traders analyze volume distribution on price charts, highlighting key volume levels to inform trading decisions.
Main Financial Strategies and Business Trends:
- Utilization of volume profile to identify significant price levels based on traded volume.
- Focus on Value Area High (VAH), Value Area Low (VAL), and Point of Control (POC) as critical levels where price reactions are likely.
- Using volume profile data to detect price reaction zones and support/resistance areas based on volume concentration.
Indicator Features and Functionalities:
- Displays volume profiles directly on price charts.
- Calculates volume profiles over customizable time frames (from 1 minute to monthly).
- Default setting shows volume profiles based on daily intervals but can be adjusted to weekly or other periods.
- Shows multiple volume profiles simultaneously (default is 5 profiles).
- Volume profile bars can be adjusted in number (default 100 bars).
- Length of volume profile can be set as a percentage of the selected time frame (default 80%).
- Value Area High and low are calculated based on a percentage of traded volume (default 70%).
- Positioning options for volume profile placement relative to candles (last candle or first candle).
- Type selection for calculation mode (default "P" or alternative "midle").
- Customizable colors for highlight, POC level, POC label, and value colors.
- Option to enable or disable background placement of volume profile objects.
Step-by-Step Guide to Using the Indicator:
- Download the indicator file for MT4 or MT5 from TradingFinder.
- Open the platform and drag the indicator file onto the desired chart.
- Configure the inputs:
- Select calculation time frame (e.g., daily, weekly).
- Choose the number of volume profiles to display.
- Adjust the number of volume profile bars.
- Set the length of the volume profile as a percentage of the time frame.
- Define the value area percentage for high and low volume levels.
- Choose the volume profile position mode (last candle or first candle).
- Select the calculation type mode (P or midle).
- Customize colors and background display as preferred.
- Analyze the volume profile on the chart to identify high-volume price zones and potential price reaction areas.
Presenter/Source:
- The tutorial is provided by TradingFinder.
The video concludes by encouraging viewers to share comments and suggestions regarding the indicator.
Category
Business and Finance