KT Volume Profile MT4
- Indicators
- KEENBASE SOFTWARE SOLUTIONS
- Version: 2.0
- Updated: 30 May 2022
- Activations: 5
KT Volume Profile 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.
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
- 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.
- Coded from scratch that uses least CPU resources and memory.
Inputs
- 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.
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 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.
Caspar Marney a veteran FX trader submitted a research paper in 2011, concluded a high level of accuracy and correlation between the tick volume and actual traded volume (real volume).
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