Volume Profile For MT5
- Indicadores
- Abdelkhabir Yassine Alaoui
- Versión: 1.0
- Activaciones: 10
Volume Profile is a very useful indicator .
it allows you to spot the price levels where important price action took place.
It is similar to support and resistance levels but with a different logic.
( Check Out Fixed Range Volume Profile MT5 )
One of the first thing that traders mark up when analyzing a chart is support and resistance.
Volume Profile can be used for doing that too.
The indicator scans the defined number of previous bars and calculates the volume of activity at each price level.
You can set the indicator to display the volume profile up either to the current, most recent candle, or to some previous date.
Knowing that some prices had important activity in the past can significantly help setting up trades, stop losses, and take profits for your future trades.
The result is presented through a vertical histogram chart — the longer the histogram is, the more activity at that price level was.
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