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Using Market Profile to Map Session Value and Control Levels

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Summary

This document describes a MetaTrader indicator that builds Market Profiles from price action to show price density across a trading session. The profile highlights the Point of Control and Value Area, and can be applied to daily, weekly, monthly, intraday, or custom rectangle-defined sessions. Users can choose among several color treatments or display a plain histogram.

The settings control the session type, starting date or current-session anchor, number of sessions, and whether to display developing Point of Control and Value Area levels. The Value Area percentage sets the share of session TPOs included. The description recommends lower chart timeframes for greater precision and higher timeframes for improved visibility. It explains the indicator's features and configuration, but provides no performance evidence or rules for trading the displayed levels; profiles are descriptive tools, and the document does not establish that they predict price movement.

Key ideas

  • The indicator groups price activity into profiles for selected trading sessions.
  • Point of Control and Value Area levels summarize important session prices.
  • Profiles can use standard calendar sessions, intraday periods, or a chart-drawn rectangle.
  • The Value Area percentage determines how much of the session's TPO activity it includes.
  • The document describes visualization and settings rather than a tested trading strategy.

Tags

Technical indicatorsMarket microstructure

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