The market profile charts are very popular and tell us the story of price, where it began, where it consolidated most of the time and where it ends.
cTrader was lacking a market profile indicator for a very long time and due to cTrader Automate (cAlgo ) API limitation it wasn’t possible to create a high-quality fast loading market profile indicator but all changed after the release of cTrader Automate API 3.01 which allows drawing transparent objects on the chart.
Our market profile indicator came in two different versions, the regular version which uses a user-defined periods number to calculate the profiles and the timeframe version which uses a user-defined timeframe instead, ex: showing daily market profile on an hourly chart
- Using different colors for drawing value area, value area high, and value area low
- Plots the POC or point of control in a different color from rest of the profile bars which is the longest bar in profile
- Being able to set the number of profiles to draw
- Setting the profile bars width in symbol Pips
- Separating each profile with a separator vertical line
- Setting the bars color transparency or alpha value
- Setting the bars maximum length based on chart x bar number