The Market Profile Trendlines mt4 indicator depicts price density over time, highlighting the most important price levels, value area, and control value for a specific trading session.
The indicator is constructed by combining data from the volume, time, and number of ticks at specific levels during a defined period.
This guide will dig deeper into the MP Trendlines mt5 indicator and how to use it in your trading approach.
![Market Profile Trendlines MT4 Forex Indicator Free Download](https://www.forexcracked.com/wp-content/uploads/2023/05/Market-Profile-Trendlines-MT4-Forex-Indicator-Free-Download-1024x639.jpg.webp)
What is a Market Profile Trendlines MT4 indicator?
A Chicago Board of Trade (CBOT) trader developed the market profile indicator. Its original objective was to display price and time information collected during a trading session in a way you can understand.
The MP Trendlines indicator differs from the traditional one, including the trend lines. Also, this indicator analyzes where the most price activity occurs in a currency pair or other market at any particular time.
It calculates using the most exact tick data – every single market tick/change. The Market Profile Trendlines indicator generates the histogram based on this.
The histogram displays where there is a lot of trading activity and price action at certain price levels and zones. From right to left, the Market Profile Trendlines indicator draws a histogram. In contrast to the typical left-to-right layout, it can be beneficial to concentrate on the current trading session without complicating its chart.
![Market Profile Trendlines MT4 Forex Indicator](https://www.forexcracked.com/wp-content/uploads/2023/05/Market-Profile-Trendlines-MT4-Forex-Indicator-1024x638.jpg.webp)
With this indicator, you will constantly know the most crucial price levels and zones for future market price movements.
The Market Profile Trendlines indicator can be applied to timeframes ranging from M1 to D1 and displays the profiles for trading sessions. This indication is based solely on price action and does not use standard MetaTrader indicators.
Market Profile MT4 Indicator Settings
![indicator settings market profile](https://www.forexcracked.com/wp-content/uploads/2023/05/indicator-settings-market-profile.jpg.webp)
- LookBack displays several chosen profiles.
- UseVolumeProfile, if true, shows the current volume.
- ProfileTimeframeInfo draws profiles from a chosen timeframe.
- ProfileTimeframe shows the current timeframe.
- DayStartHour mentions the profiles starting an hour.
- VATPO percent displays profiles chosen timeframe percentage gain.
- TickSize presents the number of ticks.
How to use the Market Profile Trendlines mt4 indicator?
The value area is the primary use of the Market Profile Trendlines indicator.
Price will fluctuate up and down with buy and sell orders as the market progresses during a session. This indicator calculates combining time, volume, and tick data, forming a value area.
This price range represents the midpoint between current supply and demand levels. In addition to the value area, you will be characterized by two tails; the top and the bottom market profiles.
Market Profile Trendlines mt4 indicator trading strategy
The price areas rejected by the market are indicated by the large tails below and above the value area. The bottom tail tells us that buyers outperform sellers at those price levels. On the other hand, the top tail tells us about the sellers outpacing buyers at the respective price levels.
Buy setup
- Find the bottom tail on the chart
- Wait for the price action to turn bullish
- Place a stop-loss near the recent low
- Exit when the trend changes its course
![Market Profile Trendlines MT4](https://www.forexcracked.com/wp-content/uploads/2023/05/Market-Profile-Trendlines-MT4-1024x642.jpg.webp)
Sell setup
- Locate the top tail on the chart
- Wait for the price action to turn bearish
- Place a stop-loss near the recent high
- Exit when the trend changes its course
![Market Profile Trendlines MT4 Forex Indicator download](https://www.forexcracked.com/wp-content/uploads/2023/05/Market-Profile-Trendlines-MT4-Forex-Indicator-download-1024x637.jpg.webp)
Market Profile Trendlines MT4 Forex Indicator Free Download
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Conclusion
The Market Profile Trendlines mt4 indicator is an excellent tool for locating every price move in a current period. However, it is better to use the indicator with other technical analyses, like the Simple Moving Averages, to confirm the direction of the price action.