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Using a Volume Profile to Plot Price-Level Trading Activity

Article MQL5 code base
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Summary

This short library description outlines a basic volume profile tool for a selected time range. The user supplies start and end times and a price resolution, expressed in points, which determines how adjacent prices are grouped. The library can plot the resulting profile and return the price associated with the greatest volume, commonly treated as the high-volume price level.

The example constructs the profile over a segment of the current chart, plots it, prints the high-volume price, and then releases the object. This demonstrates a simple workflow for inspecting where trading activity concentrated over a chosen interval. The description does not explain how volume is assigned to price bins, what data assumptions the calculation makes, or how the output should be turned into a trading signal. It also provides no performance tests or evidence that the high-volume level predicts future price behavior, so the profile is best understood here as a charting and analysis aid.

Key ideas

  • A volume profile summarizes trading volume across price levels for a selected time range.
  • The resolution parameter controls the size of price groupings in points.
  • The library can plot the profile and report the price associated with the highest volume.
  • The description gives no trading rule or evidence that the reported level predicts future moves.

Tags

Market microstructureTechnical indicatorsStatistics

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