Fig 4. The Point of Control isn't absolute; it shows the range of trade. The Point of Control isn't absolute; it indicates the range of trading. Thus, the trader should be ready to act when the market approaches to POC. It helps to optimize orders, using the historical observations. Let's consider the Fig. The POC on It is clear even without the histogram and POC line that the market was within the The market closed at the end of the day at 5 points below the POC. On the next day it caused the opening of the market with a gap down. It's important to understand that we can't predict whether the market will go up or down.

We can only suppose that the market will return to the POC line and to the maximal accumulation of the histogram lines. But what will happen when the price touches the POC? The same thing that happens with an elastic object that falls to the ground, it will jump back. If it happens quickly, like a tennis ball stroke back with a racket, the price will return very quickly back to the initial level. After the market opening on Note that POC is not absolutely accurate experienced traders know that there is no clear resistance levels when the price reaches a maximum, minimum or concentration range.

What happens at this point depends on the market players. If the collective desire for example, news publication coincides, then market will pass through the POC, but it's rare and it can be used to develop a trading system. Pay attention that the market behavior was the same on When the price touched POC, the buyers yielded to the sellers. The logics is simple, as described above, the POC is an attraction point for the market.

As the price moves away from the POC, the force of attraction increases. And the more the price goes away from the Virgin POC, the greater is the possibility that when it returns to this level the rebounce will occur and probably a price reverse will occur as well. Fig 5. Former and current Virgin POC. At Fig. The working Virgin POC are marked with price values. Once the price has touched the Virgin POC, it ceases to be a "virgin".

Psychologically, the market no longer sees it as a substantial level of support or resistance. The traders still can see the price levels, which initially has formed the POC, but as a simple accumulation of prices. During the development of this indicator I faced some troubles, here are some of them:. As people say, "the first pancake is always a bit tricky", I have tried to implement it as an indicator. Let's start with the good: the presence of the long history of minute quotes for all symbols, the possibility of historical data obtaining for a certain time period at any time range.

Now I will explain why it has turned out. I haven't considered the features of the MQL5 indicators:. The execution of function OnCalculate , which corresponds to Calculate event handler has a critical runtime. Accordingly, the processing of days annual period using the minute bars history takes a long time, up to several minutes. Of course we can accept it, if the calculations performed at once after the indicator attaching to the chart.

But this isn't the case for the timeframe changes. When indicator switches to the different timeframe, the old copy of the indicator is destroyed and created the new one. That's why after the timeframe changes we have to recalculate the same levels again and it spends a lot of time. But as saying, if you don't know what to do - "Read the documentation first", in our case, it's the documentation of MQL5.

The solution was very simple - to implement this indicator as Expert Advisor which doesn't trade. It allows us to perform all calculations at once after Expert Advisor attaching, changing its parameters and new data appearing, in our case for a new trading day.

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The Object-oriented programming OOP - is a style of programming which basic concepts are the concepts of objects and classes. The Object is an entity in the virtual space, with specified state and behavior; it has some values of properties called as attributes and operations with them called as methods. In OOP the Class is a special abstract data type, characterized by means of its construction. The class is a key concept in OOP.

The class is differing from the other abstract data types. The data definition in class also contains class methods of its data processing interface. In programming there is a software interface concept that means a list of possible computations that can be performed by some part of the program, including algorithms, description of arguments and order of input parameters to proceed and its return values. The abstract data type interface has been developed for a formalized description of such a list.

The algorithms itself and the code that will perform all these calculations aren't specified and called as interface implementation. The class creation is creation of some structure with fields and methods. The entire class can be considered as a template for the objects creation, which are class instances. The class instances are created using the same template, so they have the same fields and methods. The source code is located in 4 files. The main file is PriceHistogram. The files with.

The include compiler directive includes the text from the specified file. In our case it is description of class CExpert discussed below. The next one is a block of input variables which are parameters of Expert Advisor. After that the variable ExtExpert of CExpert class type is declared. The next is the standard event handlers which are in MQL5-programs. The event handlers call for the corresponding methods of CExpert class. When I wrote the first version of the Expert Advisor and run it, I have some trouble with understanding why it terminates with error after the client terminal restart or a symbol changes.

And it occurs when the client terminal was disconnected or a symbol hasn't used for a long time. It's great that developers have added the debugger to MetaEditor5. I remember a lot of Print and Comment commands, used for checking of values of variables in MetaEditor4. Many thanks to MetaEditor5 developers. In my case, everything was easy; the expert starts before connection to server and update of the historical data. Once the data has been synchronized, or the cycle has completed because of the counter in the absence of connection, we pass the input parameters of our expert class CExpert, and call the class initialization method Init.

The public section is open and accessible from the outside variables. You'll notice that names of the variables coincide with names of the input parameters section described in PriceHistogram. A measure of price volatility is indicated by standard deviation A measure of price volatility of indicated by standard deviation Crypto Market Change provides an indication of whether the value of a basket of 16 coins traded in USDT on Binance as of July 12, are headed up or down.

A simple moving average of the percentage change in USDT price for each coin is calculated. A measure of price volatility of indicated by standard TradingView EN. Indicators and Strategies All Scripts. All Scripts. Indicators Only. Strategies Only. Open Sources Only. Top authors: marketprofile.

Updated February 20, Welcome to futures io: the largest futures trading community on the planet, with well over , members. How to Organize and Interpret Market Profile Charts for Technical Market Analysis In this workshop, technical analysis expert Robin Mesch explains how to use her Market Profile approach to building a trading strategy and a current outlook on key markets.

1. How the Market Profile is used in trading.?
2. How to Read the Colors: Understanding the Charts!
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4. The Price Histogram (Market Profile) and its implementation in MQL5?
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The presentation includes the following: How to understand data representation with price bars Why not all price points are considered equal Market Profile as a database that accounts for price and time at price Understanding Profiles as vertical bell curves of market performance How markets move from high usage to low usage areas Organizing data using Market Profile Examples of trading strategies with corn and soybeans.

Jim G , kulu , redratsal , RM99 , Tarheel45 , trader , trendisyourfriend. Best Threads Most Thanked in the last 7 days on futures io. Read Big Mike in Ecuador 65 thanks. Read Battlestations: Show us your trading desks!

Read If you had your time again, what would you NOT do? Has some similar concepts as a "long term VWAP " in terms of the range trade setup above and below the VWAP while the market is completing the bell curve. Combine that with the fact that the ranges observed are pretty large in terms of drawdown and you'd need a sizeable account to weather any localized storms. I guess, in the end, it's a self fulfilling prophecy, where day traders would become so large that their order sizes are no longer acceptible for intraday trading and they would have the necessary capital and need to seek shelter from slippage by chasing larger moves over longer time periods.

Also, I know that TS doesn't provide full volume data for anything daily or above, so you'd need to develop the program to compile and organize the data. But very interesting nonethless. I like the concept of price acceptance and the ways that macro market sentiment moves price. The following 3 users say Thank You to RM99 for this post:.

The following 5 users say Thank You to redratsal for this post:. ChicagoStktradur , Jim G , jmont1 , jsd45 , Tarheel The following user says Thank You to DynoCat for this post:.