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Price Distribution Histogram for Visualizing Price Levels

Article MQL5 code base
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Summary

This document describes a MetaTrader indicator that plots a vertical histogram showing the distribution of prices over a configurable calculation period. Its listed inputs control the period, the initial drawing shift, the histogram scale, and the color used for price values. The indicator is presented as a visualization tool for examining where prices are distributed, rather than as a complete entry or exit strategy.

The document identifies the indicator as originally written in MQL4 and gives its original publication date, but it provides no explanation of how the distribution is computed, no trading rules, and no evidence of performance or predictive value. The listed parameters offer basic customization, while the absence of methodological detail limits how confidently a trader can interpret the histogram or compare it across instruments and settings.

Key ideas

  • The indicator draws a vertical histogram of prices over a configurable period.
  • Users can adjust the calculation period, drawing shift, scale, and display color.
  • The document does not specify a trading strategy or explain the underlying calculation in detail.
  • No performance evidence is provided, so the histogram's predictive value is unknown.

Tags

Technical indicatorsStatistics

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.