Market Profile: Session Price Density, Value Areas, and Point of Control
Summary
The document describes a MetaTrader indicator for viewing how price activity is distributed within a trading session. It draws a profile histogram and identifies the Value Area and Point of Control (POC), with options to display how the POC and Value Area High and Low develop over time. The indicator is presented as a price-action tool rather than one built from standard technical indicators.
Users can choose daily, weekly, monthly, intraday, or custom rectangle sessions, set how many sessions to display, and select colors or bullish and bearish bar coloring. Lower chart timeframes are said to provide greater precision, while higher timeframes can improve visibility. The Value Area percentage controls the share of session TPOs included. This is a description of display options, not a tested trading strategy: it gives no entry rules, performance evidence, or guidance on interpreting profiles, and the result depends on chart timeframe and session settings.
Key ideas
- Market Profile represents session price activity as a histogram and highlights the Value Area and Point of Control.
- The indicator supports daily, weekly, monthly, intraday, and user-drawn rectangle sessions.
- Developing POC and Value Area levels can be displayed as they change during a session.
- Chart timeframe affects the profile's precision and visibility.
- The document describes indicator configuration but provides no trading rules or performance tests.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.