Market Profile

[L11]

Thank you for your feedback @L11. I will try to improve the indicator further using your suggestions.

Some of what I'm talking about above requires adding more user inputs. I'm afraid of over-complicating with too many inputs. Maybe instead..add const global variables at the top of the code. These act like input variables that someone could change by editing the code but are not input variables that a non-coder-user would see...if that makes sense. Or maybe that's stupid, idk.

My point is simply that I might be throwing around a lot of ideas, not all the ideas are necessarily good, but even more, not all the ideas are necessarily practical either.

You have a great thing going here. I'd like to see if anyone else using this has feedback besides me.

 

[AlexanderC]

Hello Enivid ,

first of all I thank you for the wonderful work you have done and you are doing to program this indicator. Would you also be able to add virgins POC?

Alexander

 

[Enivid]

Not sure if that would be a very useful addition to this indicator. It is currently quite easy to see which POCs have been traded at and which have not been.

 

[dennizy]

Interesting suggestion. I'll see if that can be done.

Thanks for compiling the indy admin. This modification would make the indy really great ...following

 

[waspadaz]

good thanks very much

 

[dennizy]

Again Many thanks for coding this indy. A couple of suggestions to input in the code
-capability of having Empty histogram option meaning only one single color making it more cleaner
- capability of extending POC line and also filling it with any color.

Many thanksEnivid

 

[dennizy]

-incorporating a Vwap into the tool

 

[dennizy]

see this https://www.mql5.com/ru/code/15445

 

[M99199]

Hello,
Thank you very much for this indicator.
Would it be possible to have an option to ray right previous median/POC areas also as these are just as important as previous value areas?

 

[Enivid]

Version 1.08 of the indicator now incorporates most of the changes proposed by @L11, @dennizy, and @M99199. Thank you guys!

 

[M99199]

Version 1.08 of the indicator now incorporates most of the changes proposed by @L11, @dennizy, and @M99199. Thank you guys!

Splendid job and great improvements, many thanks.

 

[Longing]

Nice plug-in/indicator. One question tho, in Mt4 when it's used in 5min it turns all the bars or charts white or red as you scroll through time. Is this normal or a glitch. Haven't read anything saying it is a function.

 

[Enivid]

Nice plug-in/indicator. One question tho, in Mt4 when it's used in 5min it turns all the bars or charts white or red as you scroll through time. Is this normal or a glitch. Haven't read anything saying it is a function.

That's a bug in MetaTrader terminal. I have reported it via MetaQuotes' bug tracking service. They have confirmed that such a bug exists, but they told me that they have no current plans for updating MT4 platform in the near future as they focus now solely on MT5.

 

[Longing]

That's a bug in MetaTrader terminal. I have reported it via MetaQuotes' bug tracking service. They have confirmed that such a bug exists, but they told me that they have no current plans for updating MT4 platform in the near future as they focus now solely on MT5.

Oh, that's convenient for them I guess. Thank you

 

[Longing]

I would have to say that it isn't coded correctly. I have an almost identical plugin and it doesn't have this issue. Hmmm

 

[Enivid]

I would have to say that it isn't coded correctly. I have an almost identical plugin and it doesn't have this issue. Hmmm

The problem arises when there is a big number of differently colored objects on the chart. If you switch to a ColorScheme to Single_Color or set PointMultiplier to ~10 (the actual number depends on the trading symbol you use), the problem will disappear.

 

[jagg]

@Enivid
Really great MP Indicator you make here... Beside the riv_ay-TPOChart indicator (which is closed source and author isn't active anymore) it's one of the best out there!

Can I ask/wish a few things:
1) If ShowMedianRays is true why only show the MedianRay from yesterday? (and not all - or make both ways optional)
2) If ShowMedianRays is true you draw two dashed lines per day (HighRay and LowRay)? Why?
3a) Why the MedianLine starts -16 bars back from every day? Looks "odd" imho...
3b) Also the way how the value area is drawn with one rectangle doesn't look good compared how riv_ay is doing it (with a filled rectangle in the back and two obj_trend lines at top/bottom)
4) Any chance for adding the "Initial Balance" and a OHLC Bar (see screenshot)

I really like the way riv_ay-TPOChart indicator displays the profile with a border around the rectangles. This makes the look of the whole thing really more "professional/better looking" in my opinion.
I tried to change your indicator and add additional rectangles with back=false to mimic the borders but unlike the way riv_ay is doing it (one rectangle per price range) with your indicator you use one rectangle for a fixed width - so a a wide price range consists of ~4,5,6,7,8 or more rectangles - and this makes it hard for me to code the borders in.
Because of that I tried to do it by adding not rectangles but obj_trend lines (so border left and right are missing) but it looks still a bit more better this way IMHO (this only makes sense when pointsMultiplier is bigger than default 0/1 for sure).
Is there a change to use only one rectangle per price range or do you have to recode many many lines in order to have this functionality?

Thanks a lot!

 

[Enivid]

1) If ShowMedianRays is true why only show the MedianRay from yesterday? (and not all - or make both ways optional)

Because, initially, the feature was requested to see the previous session's median. Of course, it could be made as any number of sessions back via an input parameter.

2) If ShowMedianRays is true you draw two dashed lines per day (HighRay and LowRay)? Why?

Because the Median is not a line, but a rectangle.

3a) Why the MedianLine starts -16 bars back from every day? Looks "odd" imho...

Because I did not like the look of the median when the Value Area was narrow.

Is there a change to use only one rectangle per price range or do you have to recode many many lines in order to have this functionality?

Those are interesting features, but I am not sure I am going to add them.

4) Any chance for adding the "Initial Balance" and a OHLC Bar (see screenshot)

The TPO's are drawn as separate rectangles because the should be colored depending on their time. Single color scheme has been added only recently. I don't think it is reasonable to code a completely different way of drawing the TPO's to add borders in a single color mode.

 

[Longing]

The problem arises when there is a big number of differently colored objects on the chart. If you switch to a ColorScheme to Single_Color or set PointMultiplier to ~10 (the actual number depends on the trading symbol you use), the problem will disappear.

Tried the point-x fix all the way to 20 and it didn't seem to change. I used U/J pair.
The colorscheme does work but I lose the heat mapping of course which defeats the purpose of a non TPO mktprofiler.

Question, what solves the conundrum of the shifting Value Area during the progressing Sessions? Or is this just part of using market profile for FX.

 

[Enivid]

Question, what solves the conundrum of the shifting Value Area during the progressing Sessions? Or is this just part of using market profile for FX.

What exactly do you mean? Could you please show an example?