The MARKET PROFILE natural show of the market and represented it in such a way that the objective information generated by the market can be read.
Market profile Meta Trade Indicator is a unique MARKET PROFILE execution that indicates the price density over time, defines the most important price levels, value area, and control value of the trading session. It is available for both MT4 and MT5. It is an indicator that uses precise tick data and adds a histogram figure on your chart/graph. The graph shows you assist and resistance levels. Important price action zones and where the price is heavily traded.
DETAILS OF MARKET PROFILE MT4
This indicator can be attached to time frames and show the MARKET PROFILE for daily, weekly, monthly, or even yearly. Low time frames recommend higher accuracy. Higher timeframes are recommended for better visibility.
It has a color scheme for profile’s block: – BLUE to RED, RED to GREEN, GREEN to BLUE, and YELLOW to CYAN, MAGENTA to YELLOW, and CYAN to MAGENTA.
A long profile indicates that the rate remains the same for a long time. This occurs when the market is in equilibrium with time, at a specified price. A short profile speaks for a fast move to a new level, which happens when the market is disequilibrium. The profile outline indicates the ratio between vertical and horizontal movements and is a key to understanding what the traders do.
In the indicator chart, there are two types of arrows. One of them is Red and the other one is Green. The red arrow indicates that price is moving downward (Low price in Market) and the green arrow indicates that price is moving upward (high price in the market). There is a specific pip in the graph. If the candles of the graph go down to this specific pip then the price is going down and if the candles are above the pip then the price is moving upward. The Blue line in the graph shows the rate.
- When we buy any good, if its price goes down then we have a loss in our trade. But, if its price goes upward then we have a profit in our trade. But, in the case of sell, if the price goes down then we have a profit in our trade and if the price goes upward then we have a loss in our trade.
USES
• Market profile Meta Trade Indicator is used to indicate strength trend in the trade.
• Its calculations are based on moving average price.
• It is used to differentiate between trending and non-trending conditions.
• It helps to identify profitable trade.
• From the rise and fall of lines in the Market profile Meta Trade Indicator graph, the traders sense the price climax.
HOW TO INSTALL Market profile Meta Trade Indicator:
• First step: – Download the Market profile Meta Trade Indicator for Meta Trader 4 platform.
• Second step: -Copy Market profile Meta Trade Indicator for Meta Trader 4. mql4 to your Meta trader Directory/experts/indicators/
• Start or restart your Meta trader 4 Client.
• Select Chart and Timeframe where you want to test your MT4 indicators.
• Search “Custom Indicators” in your Navigator mostly left in your Meta trader 4 Client.
• Right-click on Market profile Meta Trade Indicator for Meta Trader 4.mq4.
• Attach to a Chart
• Modify settings or press ok
• In the end, the Market profile Meta Trade Indicator for Meta Trader 4.mq4 is available on your Chart.
How to remove Harmonic pattern indicator :
• First step: Select the Chart where is the Indicator running in your Meta Trader 4.
• Second Step: Right-click into the chart.
• Third step: Indicators list.
• At the last: Select the indicator and delete it.
These are simple and easy steps that you need to follow before starting trade because it gives you buy and sell zone indicator with almost 90% precision.
IMPORTANT
Ahead you are going to begin in real account trading you need to trade at the minimum for one month as a demo in any MT4 or MT5 brokers. It awards you more potential for getting quality payback in long or short term trading across also moving average.
