Volume Profile and Market Profile TPO (Time Price Opportunity)
The Volume by Price Indicator for MetaTrader 4 and 5 platforms features Volume Profile and Market Profile TPO (Time Price Opportunity).
Volume and TPO histogram bar and line charts. Volume Footprint charts. TPO letter and block marker collapsed and split structure charts. Static, dynamic and flexible range segmentation and compositing methods with relative and absolute visualizations. Session hours filtering and segment concatenation with Market Watch and custom user specifications. Graphical layering, positioning and styling options to suit the user's analytic and aesthetic needs. show more
Volume Profile and Market Profile TPO Point of Control (VPOC and TPOC), Count, Balance, Imbalance, Value Area (VA) and High and Low Volume Nodes (HVN and LVN) with visualization and evaluation by multiple methods and a wide range of user-definable variables to apply with all disciplines and studies. Delta Volume Profile and Footprint charts with volume classification by price action or order type. Additionally includes Initial Balance (IB), Volume Weighted Average Price (VWAP), and Volume by Time histogram and bubble charts to perform Volume Spread Analysis (VSA) and Volume Price Analysis (VPA). show more
A suite of technical analysis data visualization tools to display the complex relations between volume, price and time in various easy to interpret forms. Data Source API for data connector extensions and user file feeds to have full control over the scope and type of data beyond native brokerage provisioning. Tick volume, trade volume or open interest. Includes Order Book Time and Sales (T&S) and Depth Of Market (DOM) cross-platform terminal compatible MetaTrader 5 extension for Order Flow Analysis. Data Environment API for extension and developer programmatic access to dimensions and metrics. Includes Traces, Events, Notifications and Reports extensions, and code sample resources for automated algorithmic trading strategies.
High-level chart setups with drag and drop support for the casual user, and further in-depth and segmented by using advanced user features. For a quick start browse example compositions and download chart templates. For details on configuration options and methods see documentation.
Buy: 259.95 USDRent for 3 months: 34.95 USDFree Demo
Purchase and rental via MQL5.com App Store: Taxes and fees are calculated at checkout. License per platform for 20 device activations . To install open the MetaTrader platform, specify your MQL5.com account in the settings, go to Toolbox \ Market \ Purchased and click the 'Install' button. · Free demo limitations: Distribution with chart timeframe period price data. Range of 200 bars. Up to 5 segments.
Market Profile displays the quantity and indices of time periods where prices occurred per price level. Units are named TPO's, short for Time Price Opportunity. Market Profile is a charting technique by J. Peter Steidlmayer, a trader at the Chicago Board of Trade (CBOT), ca 1959-1985.
Volume Profile Histogram
Market Profile TPO Block StructureTick Volume is the quantity of data ticks, data used in analytics to represent activity based on data feed updates with classification by Price Action.
Compared to Real Volume, ethically, Tick Volume compiled Volume Profile and Footprint can only be considered as a completely different method of analytics. Theoretically, the difference in data type representation is very large, i.e., a tick of a large order, being a single for tick volume and multiples for trade volume, with a mere relation between ticks of (intermediary processed possibly accumulated) price updates. In practice however, the difference in terms of visual price level variation, the general form, is small. Large orders do not occur much as they are strategically split into smaller orders, technologically, processing speed related accumulation likewise. With discretion, this could be used as an lower quality, low cost, alternative. For Order Flow Analysis Volume Delta, between order type and Price Action classification, i.e., actual buy and sell orders, and higher and lower price changes, the difference is incomparable. This can only be used as another method of analytics.
For third-party data connection with the indicator API simple, relatively low cost, custom programmatic functions (network connection and data formatting) might be required, the MetaEditor features an AI assistant (OpenAI GPT-4 models), and at MQL5.com Freelance work orders can be opened and developers selected.
Templates (.tpl extension) are to configure charts they contain chart property settings including configurations of all applications attached to it. Templates can be used via the menu bar or context menu.
INI files (.ini extension) are to configure advanced or less frequently used settings and can be edited with a text file editor. For indicator they contain input parameter settings and can be used via the indicator's properties window 'Inputs' tab by file path as text input parameter values.
General disclosure: Materials, information, and presentations are for data visualization software feature educational purposes only and should not be considered specific investment advice nor recommendations. Example composition charts shown with indicators configured, including ranges and chart scales, strictly for best viewing with these purposes. Risk disclosure: Trading currencies, equities, indices and commodities involves substantial risk of loss and is not suitable for all investors. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security nor life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
