Best Volume Profile Indicator For Meta Trader Free Download

Volume Profile indicator is an indicator that traders can use to identify the trading activity of a specific time and at specific price levels. It is the best indicator used by traders. This indicator helps us to identify the turning points of the market profile. It also represents, how much volume occurs at each price over a specific price.

Explain of Volume Profile Indicator: –

This indicator is non-directional. It plots a histogram on the chart on Y-axis. For the first time when you open the Volume Profile indicator, you see then just colorful bars because you don’t know why these colorful bars used? After reading this article, you will know what these volume bars are and how to use them. So the first question raise in your mind is how these volume bars are created? These volume bars are created when volume that is traded at a specific price and specific time total. These bars indicate the total buys and sell volume on the histogram. Traders can use these bars as a powerful tool in trading. Volume Profile indicator  has following color schemes e.g. RED, Green, Black, and Blue.

If you want to use a volume profile indicator you first try Volume Profile indicator on the free trial. Open the indicator on the graph and select any of its types. Its types are discussed below. There are three different types of Volume profile indicators. These types are not different in their works but they are different in how they are shown on the histogram chart. These are the types of Volume profile indicator:

  1. Visible range: – It is a basic volume profile indicator. It shows volume traded at price with the help of candlesticks on the histogram charts.
  2. Session volume: – This indicator shows the volume profile of every session that is shown on the chart. One session on the chart indicates one day. It remains the same if the period is changed.
  3. Fixed Range: – This indicator is similar to the visible range indicator but this indicator has a very small difference that it also shows uptrend and downtrends in the histogram chart. It’s a most important advantage is that it does not change by scrolling in a chart. It remains the same for selected candlesticks.

Now, we are discussing the most important part of the Volume profile indicator. Now, we discuss some important points of volume profile indicator. If you want to use this indicator you have to understand these points. The first point of the Volume profile indicator is HIGH VOLUME NODE. It is a point in volume profile indicator where the volume is higher than the average. The most important fact about this point is that it shows the most traded prices in a particular period. HVN is much longer than in other bars. Now the second point is the LOW VOLUME NODE. At this point, the volume which is traded is less than the average.

They are the inverse of High Volume Node. The third point is the VALUE AREA. It is the point where at least 70% of the volume is located. The fourth pint is VALUE AREA HIGH. It is the highest point in the value area. The next point is the VALUE ARE LOW. It is the lowest point of the value area section. Another point is DEVELOPING VALUE AREA. It is the value where time, volume, and price are changed. The second last point is POINT OF CONTROL. At this point,the volume profile has the longest bar on the graph and it has a lot of volume in it. The last point of the Volume profile indicator is the Developing Point of Control. At this point of control changed concerning time. You can see the changes by looking atthe developing point of the control line on the chart. Clearance is the area in volume profile indicator in which Low Volume Node is available.

The volume profile indicator also has some rules. You can identify market profiles with the help of the volume profile. The first rule is if the price is mingling then the value area is created in the middle of the graph. The price will be between the HIGH VOLUME NODE and LOW VOLUME NODE. The second rule is If the price is moving in an uptrend. It is detected on the base of the volume profile indicator. The price will be in the High Volume Node. The third rule is that if the price is moving in the downtrend. Then the value is detected on top of the Volume Profile indicator.

 

USES Of Volume Profile indicator: –

Volume Profile indicator has too many uses. You can flare up with the help of Volume profile indicator. This indicator also helps you to identify trading activity. It also helps you to recognize high and low prices of volume at a specific time and specific a specific duration. It also helps us to spot the turning points in the trade. Many traders are using this indicator to earn a healthy profit in their trade because this indicator fulfills the need of the traders.

Volume Profile indicator is not risky for the traders. It is very easy to use. Its most important use is that it has specific points. With the help of this point you can spot low trading price, high trading price, High volume node and low volume nodes etc. You can use this indicator to spot volume traded in price from candlesticks. This indicator also uses candlesticks to understand the graph well. It also has a specific pip. If the candlesticks moves in downtrend then it’s time to sell and if candlesticks are moving in uptrend then it’s time to buy. Traders can spot these things by using this indicator. It is a best indicator.

Volume Profile indicatoralso helps you to spot that in which session the volume is highly traded and in which session the volume is traded low. When the price range change and when the time duration changes. I recommend you to use this indicator and to enjoy the advanced features of this indicator.

Uses of  Volume Profile indicator:

Platform: Metatrader4
Currency pairs: All
EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, NZDUSD, USDCAD,EURJPY, EURCHF, EURGBP, EURAUD, EURNZD, EURCAD,GBPJPY, GBPCHF, GBPAUD, GBPNZD, GBPCAD AUDCAD, AUDNZD, AUDJPY, CHFJPY, NZDJPY, CADJPY, CADCHF, NZDCHF

Trading Time: 24 Hours

Timeframe: Volume Profile indicator

Chart: mt4

Recommended broker: All trusted brokers

Remember, Before use Volume Profile indicator you can test on Demo account. When you will expert then you will use in Real account of trading.

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