Current Volume Profile Indicator MT4 Download – Free – [TradingFinder]

The Current Volume Profile Indicator analyzes how trading volume is distributed across various price levels. Unlike time based traditional indicators, this one focuses on volume at a price.

This trading tool displays traded volume levels using horizontal purple bars across the chart.

Current Volume Profile Indicator Specifications

The table below outlines the key specifications of the Current Volume Profile Indicator.

Bullish Trend

According to the 30-minute chart of the USD/CAD pair, a bullish trend has formed, confirmed by higher lows.

As shown in the marked area, purple histograms indicate volume at different price levels, and volume in bullish candles is higher than in bearish ones.

Bearish Trend

Based on the AUD/USD chart, the price experienced a bullish correction after a downward move and then resumed its decline.

According to the histograms, bearish candles recorded high volume, supporting the bearishscenario.

The orange bars display the most heavily traded level or POC.

Current Volume Profile Indicator Settings

The following options can be configured in the Current Volume Profile Indicator:

• Timeframe for Calclulate: Sets the time range for analyzing volume data
• Shift: Moves the histogram display position
• Number of VP bars: Sets the number of volume bars to show
• The ratio of maximum VP bar length to chart width: Controls the relative width of the longest bar
• Bars color: Sets the color of volume bars
• POC color: Sets the color of the POC bar
• Volume Profile Position: Determines where the profile appears on the chart

Note: The timeframe set in the "TimeFrame for Calclulate" field must be larger than the chart timeframe on which the indicator is applied.

Conclusion

In technical analysis, combining price structure with volume distribution offers a powerful approach to identifying market direction.

The Current Volume Profile Indicator's visual volume display allows traders to anticipate market direction before price action confirms it.