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To install or update the Volume by Price Indicator open the MetaTrader platform, specify your MQL5.com account in the settings, go to Toolbox \ Market \ Purchased and click the 'Install' or 'Update' button.
Update notifications are received via MQL5.com Messages service.
Updates arrive directly to the MetaTrader platform within 24 hours after publication.
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, download set files to use via the indicator properties window.
Both chart templates and set files require manual setting of applicable chart timeframe period. Set files additionally require setting of scale.
Example compositions 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 see documentation.
Reference the input parameter specification list with example settings and make configurations via the indicator properties window 'Inputs' tab.
To install or update extensions and resources download the package
or individual files and copy to the respective type folder in the terminal directory then refresh the 'Navigator' window or restart the terminal.
For quick access to the terminal directory use command 'Open Data Folder' in the File menu.
To receive update notifications via your browser click the 'Bell' icon.
Need help or have questions? Send an email to info@volumebyprice.com.
Frequently Asked Questions
What is the difference between Volume Profile and Market Profile TPO?
Volume Profile displays the quantity of contracts, currency units traded or data ticks per price level.
Market Profile displays the quantity and indices of time periods where prices occurred 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 Structure
What is the difference between Real Volume and Tick Volume?
Real Volume is the quantity of contracts or currency units traded, data used in analytics to represent activity based on monetary value, inherently data is not available for all symbols or might not be provided.
Tick Volume is the quantity of data ticks, data used in analytics to represent activity based on data feed updates.
Which brokers provide Real Volume?
For example, AMP Futures and Just2Trade provide real trading volume for currencies, equities, indices and commodities, including indicative continuous futures contract data.
All MetaTrader 4, and most MetaTrader 5 brokers are CFD brokers, CFD brokers only provide tick volume, and not real trading volume as might with Exchange Stocks and Futures brokers.
What causes the indicator to slow down or become unresponsive?
Distributions might be discarded and recalculated at high rates, e.g., scrolling chart without fixed price scale might cause the price level grid to change many times per second.
On initialization system resources are primarily utilized for processing of historical data.
To improve performance manually set history timeframe to a higher period or use an adaptive history plan, e.g., M15 opposed to M1 data rows utilize 15 times less system resources.
Inspect historical data coverage in the panel to specifically determine the lowest period data required for highest quality visualizations, i.e., visualization on high scale H4 chart might not require M1 data rows.
Other factors might be a large dataset range, high amount of segments, small price level size and/or small TPO period size.
More specific to the terminal is the total activity, i.e., resource utilization, of all attached chart application instances and Market Watch symbols.
For calculations of multiple attached indicators the possibility of delay by single thread operations, i.e., MetaTrader 5 utilizes a separate thread to operate indicators for each symbol.
If historical data is not downloaded before attaching an indicator instance to a chart
distributions will be discarded and recalculated for each time new data is received until set timeout.
What is the use for .tpl, .set and .ini files?
Set files (.set extension) are to configure chart applications (e.g., type 'Indicator' and 'Script') they contain application input parameter settings. Set files can be used via the application's properties window 'Inputs' tab.
Templates (.tpl extension) are to configure charts they contain chart property settings including configurations of all applications attached to it. Templates can be used via the menu bar or context menu.
INI files (.ini extension) are to configure advanced or less frequently used settings and can be edited with a text file editor.
For the Volume by Price Indicator they contain input parameter settings and can be used via the indicator's properties window 'Inputs' tab by file path as text input parameter values.
General disclosure: Materials, information, and presentations are for data visualization software feature educational purposes only and should not be considered specific investment advice nor recommendations. Example composition charts shown with indicators configured, including ranges and chart scales, strictly for best viewing with these purposes.
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.
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