Introduction to the Drag & Drop Volume Profile Indicator
The Drag & Drop Volume Profile indicator automatically identifies high-probability market turning points for you and instantly shows you low-risk trade entries and exits.
To make the indicator display properly on the charts, you will need to turn to “true” the following settings option: “display volume bars left adjusted”.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
You may notice that there are always some prices at which a lot of trading occurs. That means high volume. And we call these price levels: High Volume Nodes (HVN).
On the other hand, there are always some prices where very little trading occurs. That means low volume. And we call these price levels: Low Volume Nodes (LVN).
There’s also a special price level where the most trading occurs. We call this level: Volume Point Of Control (VPOC).
How to set up the Drag & Drop Volume Profile indicator in MT4?
Download the Drag & Drop Volume Profile.rar archive at the bottom of this post, unpack it, then copy and paste the Drag & Drop Volume Profile.ex4 or Drag & Drop Volume Profile.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Drag & Drop Volume Profile indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free Forex MT4 Drag & Drop Volume Profile Indicator
To download the Drag & Drop Volume Profile for Metatrader 4 (MT4) for free just click the button below: