basic library to create volume profiles
Info
The basic library to create volume profiles is a Library for MetaTrader 5 that this library provides a few simple public methods to create and plot volume profiles:gethvprice returns the price that is related to highest volume in the range. _resolution_points holds the window size to quantize adjacent prices(counted in points) here is a sample script to instantiate and plot a desired volume profile:.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use basic library to create volume profiles
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
this library provides a few simple public methods to create and plot volume profiles:gethvprice returns the price that is related to highest volume in the range.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: MQTT Five — MQTT 5.0 Client Library for MetaTrader 5 - another powerful library for MetaTrader 5 traders.
this library provides a few simple public methods to create and plot volume profiles:
Also recommended: session time filter library - similar library with strong performance on MetaTrader 5.
gethvprice
returns the price that is related to highest volume in the range.
_resolution_points
holds the window size to quantize adjacent prices(counted in points)
here is a sample script to instantiate and plot a desired volume profile:
Source Code
#include <VolumeProfile.mqh>
void OnStart()
{
datetime from=iTime(_Symbol, PERIOD_CURRENT,50);
datetime to=iTime(_Symbol, PERIOD_CURRENT,20);
VolumeProfile *VP = new VolumeProfile(from, to, 5);
VP.Plot();
Print(VP.GetHVPrice());
delete VP;
}.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.