The Rectangle Pro Volume Profile Indicator is a combination of volume profile and rectangle pro which can be drawn on any chart (any timeframe). The trader can drag the corners to resize it. After dragging, it shows the new values corresponding to its new chart content.
The rectangle box accumulates the volume data of all price bars inside. It shows a volume by price histogram from the highest to the lowest price. The histogram should always be drawn visual without horizontal gaps. Thus, the number of histogram bars should be as high as possible.
The preferable length of the histogram bars as a percentage of total rectangle width should have a value of 80. The user can set three colors; one for the value area, one for above/below, for the rectangle line itself.
Default colors: VA=red, outside=green, line=grey
Currency Pairs: Any
Trading Session: Any
- Volume profile
- Rectangle Pro
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How to trade with Rectangle Pro Volume Profile Indicator?
The Rectangle Pro Volume Profile indicator uses for its calculation of the most accurate tick data. It is used to determine every single move of a market. Based on this, the indicator creates the histogram. The indicator shows at what price levels and zones heavy trading activity and price action is happening. It also tells you the most important price levels and zones for future price moves in any market.
Based on the Volume 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. According to that, traders can simply plan your trades.
When attaching this indicator to your chart in the MT4 trading platform, you have to choose the time/price range that will be used for calculations of the indicator.
Every time you will attach the volume profile 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.
With Rectangle Pro Volume Profile Indicator, you will gain an advantage in your trading as you will see the most important price levels. The indicator easily spots price levels where the most Price Action is happening and at what price levels the market tends to arrive over and over again.
How to download and install an indicator?
In order to install the indicator on your MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button below.
- Save the file to your computer.
- Extract and move the files into MT5>Indicator folder of the MetaTrader5 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators”
- And select “Rectangle Pro Volume Profile Indicator” to apply it on the chart.
Note: This indicator was developed by Jack, Berlin. AtoZ Markets does not carry any copyrights over this trading tool.
Should you use the rectangle pro volume profile indicator on your own at all?
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