Current Volume Profile Indicator MT4 Free Download | Forex Indicator Download - MetaTrader 4 Resources - MetaTrader 4 Resources

The Current Volume Profile indicator analyzes the distribution of trading volume at different price levels. Unlike traditional time-based indicators, this indicator focuses on volume at a price.

This trading tool displays trading volume levels using horizontal purple bars in the chart.

Current Volume Profile Indicator Specifications

The table below outlines the key specifications of the current Volume Profile indicator.

List of current volume overview indicators

One of the most important features of the Current Volume Profile indicator is its ability to highlight the Price Levels (POC) (Point of Control) with the highest volume.

These levels are marked with orange histogram bars. It is worth noting that high trading volume at a specific price may indicate the presence of a large number of market participants and key price levels.

Bullish Trend

According to the 30-minute chart of the USD/CAD currency pair, a bullish trend has formed and is confirmed by higher lows.

As shown in the marked area, the purple histogram represents the volume at different price levels, with bullish candles having higher volume than bearish candles.

Bearish Trend

Looking at the AUD/USD chart, the price experienced a bullish correction after the decline and then resumed its decline.

According to the histogram, the bearish candles recorded high volume, supporting the bearish scenario.

The orange bar shows the level of maximum trading volume, or POC.

Current volume profile indicator settings

The following options can be configured in the Current Volume Profile indicator:

• Calculation time frame : Set the time frame for analyzing volumetric data
• Shift : Move the histogram display position
• Number of VP bars : Set the number of volume bars to be displayed
• Maximum VP bar length to chart width ratio : controls the relative width of the longest bar
• Bars color : Set the color of the volume bar
• POC color : Set the color of the POC column
• Volume Profile Position : Determines where the profile appears on the chart

Note : The time range set in the "Calculation time range" field must be larger than the chart time range to which the indicator is applied.

Conclusion

In technical analysis , combining price structure with volume distribution provides a powerful method of determining market direction.

The visual volume display of the Current Volume Profile indicator enables traders to predict market direction before price action is confirmed.