● For MetaTrader 4 and 5 via any broker offering a demo account
Step 3. Choose an indicator edition to test and download the indicator demo
● Via platform
Open the 'Terminal' (MT4) or 'Toolbox' (MT5) window (keyboard shortcut Ctrl-T or menubar arrow_forward_ios view arrow_forward_ios terminal/toolbox ) and select the 'Market' tab, then type 'volumebyprice.com' in the search box.
applications available in the MetaTrader Market can be tested free of charge with limited functionality using the platform's 'Strategy Tester' function. The following articles provide detailed general information about the 'Strategy Tester'.
Download selected setting files adjusted for use with the demo in the 'Strategy Tester' here.
Other setting files of the video examples can be used with the demo, however, with the following limitations:
'Strategy Tester' limitations:
● Object selection is not available which is required for certain interactive indicator features such as Drag & Drop, Pairing and Splitting.
Limitations specific to the 'Volume by Price' indicator if used with the 'Strategy Tester':
● Single main-profile setups only.
● Data Range options Visible Chart Range and All Data only.
● Chart side anchors only.
● No session filters.
● Data of times frame(s) other than chart time frame (Data Volume History and
Data Volume Update Rate) cannot be tested with model Open prices only.
How to use the indicator
To load the indicator open a new chart or click on an existing chart and select menubar arrow_forward_ios insert arrow_forward_ios indicators arrow_forward_ios custom arrow_forward_ios volume by price
The indicator setup window appears after loading (to open the setup window of an indicator already loaded select
menubar arrow_forward_ios charts arrow_forward_ios indicators list arrow_forward_ios edit arrow_forward_ios volume by price).
Select the 'Inputs' tab to set parameters.
Step 1. Select the charting techniques ("Sub-Profiles")
● For Volume Profile and Market Profile
Parameter First Sub-Profile
to display both Volume Profile and Market Profile on the same chart use two indicator instances.
Lite edition limited functionality. Maximum of 1 indicator instance per chart (compare editions).
● Volume over Time
● ADR, VWAP and Supply & Demand Zones
Step 2. Select the total time range to be analyzed
● By option, e.g., Today, This Week, Last Week
Data Time Range
● By calendar picker
Data Time Range Start and End
● By drag & drop
Data Time Range to Drag & Drop
Step 3. Segment the selected data by time ("Main-Profiles")
Data Time Range, Main-Profiles
Step 4. Filter the selected data by session hours
Data Time Range, Session
use major trading session presets or set hours for any other session such as overnight (O/N), real-time (RTH) and extended trading (ETH) with the Custom Session option.
For Market Profile to show multiple sessions with a single instance use highlighting with unfiltered data to group TPO's by color (parameter Evaluation MP Marker List Groups).
Step 5. Set properties of the Sub-Profiles
● Price range of zones for Volume Profile and Market Profile
Data Price Zone
● Amount of unique markers, i.e., TPO's, for Market Profile
Data MP Marker Blocks or Data MP Marker Letters
● Time range of zones for Volume over Time
Data Time Zone
See the Documentation for detailed feature information and setup guide.
How to use example setting files
Step 1. Download the example settings here or via the link below each video at Examples. Open the zip file to extract the indicator preset (.set) and chart template (.tpl) files used.
Step 2. Optionally load chart template to match chart styling with indicator styling: menubar arrow_forward_ios charts arrow_forward_ios templates arrow_forward_ios load template
(.tpl file, e.g., "Chart Color Scheme - Dark Green on White.tpl")
loading a chart template resets the chart, i.e., removes all indicators and objects. If used must be loaded before the indicator preset(s). To test or just see chart style used, use a new chart.
Step 4. Some compositions are intended for specific chart time frames and/or scales. See the README file attached with applicable presets for details.
S1-2 is smallest to second smallest scale,
M5-M30 is 5, 15 and 30 minute time frames.
Step 5. Optionally load recommended chart properties with the Chart script.
How to setup non-redrawing
● For Volume Profile and Market Profile:
Step 1. Set Data Price Zone Grid to Static (default).
Step 2. Set the total data time range outside or equal to the range to be analyzed.
Step 3. Set the start of the total price range explicitly with Data Price Range Start and set the total range outside or equal to the range to be analyzed.
Step 4. Fix the chart scale, menubar arrow_forward_ios charts arrow_forward_ios properties arrow_forward_ios common arrow_forward_ios scale fix
● Additionally for Volume Profile if the end of the total data time range is set in future
By default the maximum height (horizontal, width) of the histogram is determined by parameter Draw Height by Chart Width (percentage) and the amount -of volume- of the price zone with the largest amount of volume. If that zone has new
volume distributed to it the entire profile must redraw as the height of the other zones is relative.
Step 5. Set parameter Draw Height by Chart Width, Volume to change the amount by which the maximum
height is determined.
● For Volume over Time, ADR, VWAP and Supply and Demand Zones:
Set a fixed total data time and price range.
Converting and manipulating data
MQL code sample for automated conversion. Screenshots with descriptions showing use of spreadsheet for manual conversion.
Why does, for example, VPOC differ after change of chart time frame or scale?
A minor price zone grid change or multi time frame data becoming available after initialization might cause significant distribution changes. How volume is distributed primarily depends on actual price zone size, grid method and data coverage.
Why is 'Real Volume' included as data option in the MetaTrader 4 edition?
'Tick Volume' and 'Real Volume' (broker feeds) are included both because of their availability as separate values in the OnCalculate function of MQL indicators, a technicality
as brokers (MetaTrader 4) almost always provide one of either types exclusively via the 'Tick Volume' data field.
consult your broker for specifics on availability
What is the difference between 'Tick Volume' and 'Real Volume'?
In general the data provided to the terminal by the broker named 'Tick Volume' represents the number of data updates (ticks), mostly, but not limited to price changes. 'Real Volume' representing the number of contracts or
currency units traded. Both having as scope the clients of the broker. 'Tick' data is a collection name for the data provided at tick (i.e., real-time update) rate, it can consist of both 'Tick Volume' and 'Real Volume'.
data names might represent another type or scope, e.g., some brokers provide the number of contracts or currency units traded via the 'Tick Volume' data field, data scope be the venue traded at instead of the brokers clients, etc. consult your broker for specifics.
Download all setting files of the Example Compositions in a single zip file here or individually via the links below. Compatible with version 5.150 and above.
Data visualization tool used to display the complex relations between volume, price and time in various easy to interpret forms and perform basic to advanced technical analysis. Identify key levels and ranges with Volume Profile and Market Profile along with Supply and Demand Zones, Volume Weighted Average Price and Average Daily Range.