You can now download the Histogram Market Profile indicator for free on AtoZ Markets indicators gallery. Histogram market profile indicator is a trading tool, a Metatrader indicator which uses the histogram, which simply displays at what price levels and zones heavy Fx trading activity and price action is happening. Using Histogram Market Profile indicator, you will be able to simply explore where heavy Price Action is happening in a market.
The indicator provides an accurate analysis of Price Action and the most important price levels in Forex. Moreover, you can use this indicator for all markets (forex, commodities, stocks, indices, and others) and in any timeframes. However, it is recommended to use it in 30 min or higher timeframes.
How to trade with the Histogram Market Profile indicator?
The indicator uses for its calculation the most accurate tick data - every single move of a market. The histogram simply displays at what price and zones heavy trading activity and Price Action is happening. You will always immediately know the most important price levels and zones for future price moves in the Fx market.
Based on the indicator, you can easily see where the most important price moves and trading activity is located. The highest values of the histogram serve as the most important price levels in a market. You can simply plan your trades, or stop loss and profit targets.
When attaching this indicator to your chart, you have to choose the time/price range that will be used for calculations.
Every time you will attach the indicator into your chart, it will create the rectangle highlighting the price/time range used for calculations. To resize it, use the middle point of the rectangle and simply drag it to left or right.
As soon as you will move with the middle point of the rectangle, the indicator should get updated and resize the rectangle based on a price range that you would like to analyze. If it doesn't, simply right-click in your chart and choose "Refresh".
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on “Download Indicator” button located at the top right corner of the screen.
- Save the file to your computer.
- Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select “Histogram Market Profile Indicator” template to apply it on the chart.
Note: This indicator was developed by FX Trading Revolution. AtoZ Markets does not carry any copyrights over this trading tool.