Building a Viewport-Aware Support and Resistance Volume Profile
Summary
The article describes an MQL5 indicator that ranks support and resistance zones by volume participation within the currently visible chart area. It detects the viewport’s time and price boundaries, identifies candidate levels using configurable wick- or body-based rules, and divides the visible price range into bins whose count adapts to chart zoom. Tick or real volume is accumulated in the bins associated with the detected zones, then shown as horizontal profile bars, with a point-of-control line.
The indicator recalculates when the chart view changes and when new bars arrive, aiming to keep the displayed analysis aligned with the trader’s current context. Its stated evidence is a demonstration that profiles render and update during scrolling and zooming; the document provides no quantitative trading results or proof that volume-ranked zones predict reactions reliably. The method is presented as a configurable chart-analysis tool that can be extended for alerts or filters.
Key ideas
- The indicator limits support and resistance analysis to the chart’s visible viewport.
- It offers wick-based and body-based detection with adjustable pivot strength.
- The number of price bins changes with the visible chart context and zoom level.
- Volume accumulated by price bin is used to rank zones and display profile bars and a point of control.
- The article demonstrates chart updating behavior but does not report backtested trading performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.