Range Volume Profile Indicator Download for MetaTrader 5 | Forex Indicator Download - MT4/MT5 Resources

The Range Volume Profile Indicator is one of the Volume Indicators in MetaTrader 5 (MT5) that shows buy and sell volume within a specific price range. Technical analysis .

By using the volume histogram on the chart, this indicator allows traders to identify supply and demand zones and conduct specialized analysis based on these data.

Range Volume Profile Indicator Table in MT5

General specifications for this indicator are shown in the table below.

Indicators at a glance

The Range Volume Profile indicator is a specialized analysis tool for volume on charts. By using this indicator, traders will be able to view volume within specified price ranges as a histogram and identify key support and resistance zones .
The Range Volume Profile indicator highlights three key levels on the histogram, marking important price levels with clear lines to enhance the usefulness of this trading tool. These key levels include the Maximum Volume Line , the Median Line of Volume Distribution , and the Volume Weighted Average Price (VWAP) . When prices reach these levels, a market reaction is likely to occur, which can be used for trading analysis.

Support Zones and Bullish Trends

The Range Volume Profile indicator displays the volume range in an uptrend between two vertical lines, red and blue , showing two areas of high buy and sell volume .

Traders can use these areas to determine supply and demand within the market and enter buy trades when price reaches support areas. On the 15-minute chart of USD/CAD , the price is entering a price correction phase after an uptrend.

This trend is marked using two vertical lines, and supply and demand zones have been identified. After returning to the support zone the maximum buy/sell volume level , the price rises.

In the upper area, there is a supply level. After rebounding from this area, the price is moving and moving in the demand and supply zones .

Resistance Zones and Bearish Trends

On the 30-minute chart of GBP/USD , the price is correcting after a downward trend. Using the Range Volume Profile indicator and drawing two vertical lines, the volume between the two lines is highlighted, allowing traders to identify the main supply zone in this bearish trend.

After returning and reaching the maximum supply level , the price reacted strongly and moved downwards.

Range Volume Profile Indicator Settings

The range volume profile indicator is set up as follows:

Calculation

• Range calculation mode (between lines or other): Select the range calculation mode. There are two calculation modes, including calculation between two vertical lines, calculation based on the last candle, and calculation between two fixed distance vertical lines;
• Range duration (in minutes): The third mode setting keeps the distance between two vertical lines fixed and calculated in minutes;
• Step size of mode (in points): Select the step size of each histogram bar based on points;
• Integral calculation ratio: select the scale for point calculation;
• Data source (time range selection): Select the data source based on the time range.

Volumes Setup

• Histogram bar style: select the display type of histogram bars;
• Histogram position (on window ): Select the position of the histogram in the chart window;
• Main color of histogram bars: Select the main color of histogram bars;
• Auxiliary color of histogram bars: Select the auxiliary color of histogram bars;
• Line width of histogram bars: Select the line width of histogram bars;
• Maximum line color: Select the color of the maximum volume line;
• Center line color: select the color of the center line;
• VWAP (Volume Weighted Average Price) line color: Select the color of the VWAP line.

Lines Setting

• Centerline and WAP line style: Select the style for drawing VWAP lines.

Conclusion

The Range Volume Curve indicator is one of support and resistance . This indicator uses a colored bar chart to display trading volume buying and selling within specified price ranges .

Traders can use this tool to identify supply and demand zones and analyze them on charts.