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Indicators for MT4 / Expert VolumeProfile

 

 

Expert VolumeProfile

The Expert VolumeProfile allows you to calculate different profiles of volume accumulation. Modern technologies provide us with an access to volumes in ticks thereafter we get the most accurate profile calculating

The volume profile shows the distribution of volumes at prices for a certain period of time. This is an important information as the accumulation of volumes often becomes lines of support and resistance.

In the "classical" theory of volumes trading it is agreed to use the volumes of the day (current and previous), the week (current and previous), and the volume profile for the whole contract.

When calculating the profile with the market profile theory the prices are calculated for the Value Area, the area where 80% of the traded volume is located. During the profile calculation we use modern knowledge of probability theory and statistics as well as the first standard deviation (62.8%).

The VolumeProfile indicator is developed as the Expert and as not more than one Expert can be added to one chart, this modification (three in one) allows you to calculate combinations of different profiles in different position. In addition, the profile indicator being the Expert has no effect on the terminal speed.


Description of indicator parameters:

  • HELP_URL (the default value of "http://my.clusterdelta.com/standart_vpexpert") is a text comment with a link where you can find a description of the indicator settings. It has no effect on the indicator.
  • Instrument (default is "AUTO") - as many dealing centers (DCs) within the same instruments can use different tickers names this parameter allows you to specify the name of the ticker from which the data will be imported. If the value is "AUTO" the server tries to identify the required ticker analyzing the name of the instrument from the DC.
  • MetaTrader_GMT (the default value is "AUTO") as each DC individually sets the data server to display data correctly in the indicator you should specify the time zone of the DC server. Unfortunately, there are no built-in methods for this parameter determining, so in the AUTO mode the server compares the time of the last quotation of the client.
  • Update_Time - the indicator update in seconds.
  • CHART_PROFILES (the default ==== Chart Profiles Settings ====) is a text comment, it has no effect on the indicator but in this case but in this case it notes the start of parameters set due to which the profiles are directly displayed on the chart
  • Display_Chart_Profiles (the default value is true) - the parameter determines whether to display (true) the periodic profiles on the chart or not (false)
  • Amount_of_Profiles (default value "1") is the number of periodic profiles for calculating. The period is selected by the Profile_Period parameter. When the Profile_Period value is set to Daily, weekends are also included - so do not forget to increase the value of this parameter to the number of weekends.
  • Profile_Period (the default value of "Daily") – determines the time range for the profile calculation.
    Possible values of Profile_Period:
    • Custom_Period is a custom mode, the profile will be calculated for the period specified in Custom_Start_time , Custom_End_time
    • per_Hour - the profile will be calculated per every hour.
    • Daily profiles will be calculated per 24-hours. The start of bidding after the technological trading break in the stock market for clarity should be considered as the start of the new 24 hours (01:00 - 24:00 GMT + 2)
    • Globex - profiles will be calculated for the Globex session without the last hour. The start of bidding after the technological trading break in the stock market for clarity should be considered as the session start. (01:00 - 23:00 GMT + 2)
    • Weekly - profiles will be calculated per week from bidding start on Monday until the sales closing on Friday
    • per_Asia - profiles will be calculated according to the Asian session (00:00 - 09:00 GMT + 2)
    • per_Europe - profiles will be calculated according to the European session (09:00 - 15:00 GMT + 2)
    • per_NYSE - profiles will be calculated according to the US session (15:00 - 24:00 GMT + 2)
    • per_CME - profiles will be calculated according to the American session of the Chicago Merchant Exchange (16:30 - 23:30 GMT + 2)
    • per_Contract - the profile will be calculated according to the all available traded
  • Custom_Start_time (default value "01.01.2012 at 00:00") - if Custom_Start_Time and Custom_End_Time differ from "01.01.2012, 00:00" the server will download the profile for the period determined by these parameters .
  • Custom_End_time (default value "01.01.2012 at 00:00") - see Custom_Start_Time
  • Minutes_Between_Profiles (the default value is "0") - sets the period between profiles calculated in the Custrom_Period mode. It is used to calculate profiles by the complex algorithm (when the range of period is not equal to the frequency of its calculation for example the period perEurope where the calculation frequency is 24 hours and the range of period is 6 hours)
  • Chart_LineColor_in_VA (the default value for LightGray) is the color for drawing the profile volume lines which are in Value Area (68.2% volumes)
  • Chart_LineColor_Max_Volume (the default value is "Red") – is the color for lines drawing with maximum volumes
  • Chart_LineColor_out_VA (the default value for "Gray") is the color for drawing of the profile volume lines which are out of the Value Area (68.2% volumes)
  • Chart_LineColor_Width (the default value is "1") - the width of the volume profile lines
  • RIGHT_PROFILE (the default ==== Right Profile Settings ====) is a text comment that has no effect on the indicator, but in this case it notes the start of parameters set due to which the profile is displayed on the right side of the window.
  • Display_Right_Profile (the default value is true) - the parameter determines whether to display(true) the profile on the right side of the window or not (false)
  • Right_Profile_Period (defaults to "Weekly") - determines the time range for profile calculating. See Profile_Period
  • Right_Start_time (default value "01.01.2012 at 00:00") - if Custom_Start_Time and Custom_End_Time differ from "01.01.2012, 00:00" the server will download the profile for the period determined by these parameters
  • Right_End_time (default value "01.01.2012 at 00:00") - see Custom_Start_Time
  • Right_LineColor_in_VA (default value for SkyBlue) is the color for drawing of the profile volume lines which are in the Value Area (68.2% volumes)
  • Right_LineColor_Max_Volume (the default value for "Red") - the color for lines drawing with maximum volumes
  • Right_LineColor_out_VA (default value for DodgerBlue) is the color for drawing the profile volume lines which are out of the Value Area (68.2% volumes)
  • Right_LineColor_Width (the default value is "1") - the width of the volume profile lines
  • LEFT_PROFILE (the default ==== Left Profile Settings ====) is a text comment that does not affect the operation of the indicator, but in this case it notes the start of parameters set due to which the profile is displayed on the left side of the window.
  • Display_Left_Profile (the default value is true) the parameter determines whether to display(true) the profile on the left side of the window or not (false)
  • Left_Profile_Period (defaults to "Weekly") - determines the time range for profile calculating. See Profile_Period
  • Left_Start_time (default value "01.01.2012 at 00:00") - if Custom_Start_Time and Custom_End_Time differ from "01.01.2012, 00:00" - the server will download the profile for the period determined by these parameters
  • Left_End_time (default value "01.01.2012 at 00:00") - see Custom_Start_Time
  • Left_LineColor_in_VA (default value for SkyBlue) is the color for drawing of the profile volume lines which are in the Value Area (68.2% volumes)
  • Left_LineColor_Max_Volume (the default value is "Red") - the color for lines drawing with maximum volumes
  • Left_LineColor_out_VA (the default value DodgerBlue) is the color for drawing the profile volume lines which are out of the Value Area (68.2% volumes)
  • Left_LineColor_Width (the default value is "1") - the width of the volume profile lines
  • Comment_COMMON_Settings (default ==== Common Settings ====) is a text comment that does not affect the work of the indicator, in this case it notes the start of parameters set of general settings for all profiles.
  • Forex_auto_shift (the default value is true) – when the value is “true” the indicator automatically determines the shift between futures and forex.
  • Forex_Shift - the number of points at which the price will change up or down. A variable can be higher than zero as well as less. It is created to take into consideration the forward points (the difference between the futures and spot price)
  • ZOOM_scale_in_percent (the default value is "60") the zoom percentage scale is of 100% where the profile can be placed. The whole time period of calculating should be considered for 100%.
  • Correlate_Volume_To (the default value is "0") - By default (the value is "0") each profile is scaled within a given scale and only with accordance to own values. If there is a necessity for all the profiles of the series to be equally scaled please set Correlate_Volume_To approximately equal to the maximum volume value. In this case all profiles in the series will be scaled according to this value.
  • ReverseChart (the default value is false) - for reverse packages (except for USD / JPY, USD / CAD, USD / CHF) there is a need to set the value "true" so these indicators could "reverse "and correspond to the chart (the ReverseChart parameter for USD / JPY, USD / CAD, USD / CHF shouldn’t be set as the indicator will recognize them and reverse these indicators if necessary).
  • Draw_are_Background (the default value is "true") - when drawing lines the MQL parameter is set to "draw as a background".
  • Max_Volume_k (default value "0.85") is the coefficient which determines that the maximum volumes are all those with the coefficient higher than the maximum volume level (Value 0.85 means that all volumes higher than 85% of the maximum volume value will be highlighted with VolumeLine_Max_Volume color)
  • Draw_POC_Continious (the default value is false) - the parameter determines whether to draw (true) the line of maximum volume up to the end of the whole width of the window or not (false)
  • Continious_line_style (default value "2") - determines the line type for the Draw_POC_Continious parameter (valid value from 1 to 5)

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