You can now download the MT4 Histogram Market Profile indicator for free on the AtoZ Markets indicators gallery. Histogram market profile indicator is a trading tool. This Metatrader indicator uses the histogram, which displays at what price levels and zones substantial Fx trading activity and price action is happening. Using the MT4 Histogram Market Profile indicator, you will explore where massive Price Action is happening in a market.
This trading 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 any timeframes. However, it is recommended to use it in 30 min or higher timeframes.
How to trade with the MT4 Histogram Market Profile indicator?
This forex trading tool uses for its calculation the most accurate tick data – every single move of a market. The histogram displays at what price and zones substantial 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 Histogram Market Profile 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 plan your trades, or stop loss and profit targets.
When attaching this forex trading tool to your chart, you have to choose the time/price range used for calculations.
Every time you 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 drag it to left or right.
As soon as you 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 mt4 indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “MT4 Histogram Market Profile Indicator” template to apply it on the chart.
Note: FX Trading Revolution developed this indicator. AtoZ Markets does not carry any copyrights over this trading tool.