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To install or update the Volume by Price Indicator open the MetaTrader 4 or 5 terminal, specify your MQL5.com account in the settings, go to Toolbox \ Market \ Purchased and click the 'Install' or 'Update' button. Installation location is in the Data Folder MQL4|MQL5\Indicators\Market subfolder of the terminal directory, load the indicator on charts via the 'Navigator' window or menu bar.
To install or update extensions and resources, which do not require a license and are distributed via this website not MQL5.com, download the package or individual files and copy to the respective application and file type folder in the terminal directory, then refresh the 'Navigator' window or restart the terminal. Load extensions on charts via the respective application type, i.e., Expert, Indicator and Script, view in the 'Navigator' window or menu bar. Primary indicator use of application type is, Experts run continuously, i.e., no reload on change of chart timeframe, and Scripts run once and unload. For quick access to the terminal directory use command 'Open Data Folder' in the File menu. For interoperability, directory structure must be maintained or have applicable reference(s) modified.
For a quick start browse example compositions and download chart templates. Apply chart templates via the menu bar or context menu (right mouse click). Alternatively for modular setup, download set files to use via the indicator properties window. For examples with range selection by absolute method, both chart templates and set files require manual setting of compatible chart timeframe period. Set files additionally require setting of scale. Adjust the range selection parameters to use on other timeframes, or set a relative range selection method option to make compatible for all timeframes. Similarly this applies for TPO period set by absolute method. Both chart template and set file examples use a chart color scheme via the indicator parameter 'Color Scheme' under 'Chart Properties' set it to default to make changes via the chart properties window instead.
For details on configuration options and methods reference documentation. Get started with an introduction to features and functions, and with the input parameter lists, use the indicator properties window 'Inputs' tab to make new configurations, or view and optionally edit settings of examples, by function and parameter.
Market Profile displays the quantity and indices of time periods 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.
The second mode History Ticks + Real-time Ticks stores data tick-by-tick on disk which is persistant on redistribution, and never repaints.
Templates (.tpl extension) are to configure charts they contain chart property settings including configurations of all applications attached to it. Templates can be saved and loaded via the menu bar or context menu.
INI files (.ini extension) are to configure by indicator specific functions they contain global settings, and values of text input parameters to load by reference. INI files can be edited with a text file editor.
General disclosure: Materials, information, and presentations are for data visualization software feature informational purposes only and should not be considered specific investment advice nor recommendations. 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.
