How to Use Set Files
Step 1.
Open a new chart or select an existing chart, and attach a new indicator instance:
(The indicator properties window opens after attaching an indicator instance to a chart.)
Step 2. Load file, e.g., 'Market Profile TPO and Volume Point of Control.set', via the indicator properties window 'Inputs' tab.
To open the properties window of an instance already attached:
For example compositions with two indicator instances, e.g., 'Market-Profile-TPO-and-Volume-Profile-Histogram-Composite-Instance-1.set' and 'Market-Profile-TPO-and-Volume-Profile-Histogram-Composite-Instance-2.set', use the same chart and a new instance for each file.
Data Visualization and Analytics
What is the difference between Volume Profile and Market Profile TPO?
Volume Profile displays the quantity of buy and sell orders (Real Volume), or data ticks (Tick Volume) 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 buy and sell orders, data used in analytics to represent activity based on monetary value and classification, inherent to the market or type of instrument data might not be available, i.e., Forex and CFD's without access and value respectively.
MetaTrader 4, for use with CFD brokers, natively does not feature Real Volume, the indicator adds support via its application program interface (API) for use with equities, indices and commodities CFD's, i.e., CFD for stock or futures exchange contract.
Tick Volume is the quantity of data ticks, data used in analytics to represent activity based on data feed updates with classification by Price Action.
Data Feed and Connections
Which brokers provide Real Volume data?
All MetaTrader 4, and most MetaTrader 5 brokers are CFD brokers, CFD brokers only provide Tick Volume, and not Real Volume as might with exchange stocks and futures brokers.
License purchase and rentals
Why do Volume by Price MT4 product and checkout page links point to MQL5.com?
MQL4 and MQL5, short for MetaQuotes 4 and 5 programming languages, are for the development of MetaTrader applications. MQL5.com is a website providing various services for traders and developers of both platforms,
the MQL5.com Market service, or App Store, is for sellers to publish and distribute MetaTrader 4 and 5 applications which are licensed per platform to an MQL5.com user account.
Configuration and features
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 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 informational purposes only and should not be considered specific investment advice nor recommendations. Example composition chart template indicators shown configured with window chart ranges solely for best compatibility and usability among timeframes.
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.