The Market Profile & Trend Lines Indicator represents an automatic buy-sell setup scanner for MT4.
This applies pivot points, volume bars, intraday breakout boxes, and trendline support-resistance levels to assess accurate signals. It suits multi-timeframe charts and supports both scalping and intraday trading.
Market Profile & Trend Lines Indicator Overview
The Market Profile & Trend Lines Indicator plots the volume bars vertically, showing the level of trading activities at the same price levels. The pivot points and automatic trend line guide you through the chart’s key price action event areas.
Market Profile & Trend Lines Indicator Explanation
The Market Profile & Trend Lines Indicator uses the pivot levels as intraday buy-sell zones. You’ll often notice eventful price actions around these levels.
Whenever the price plots a breakout or reversal structure, we’ll verify the movement using the volume bars to confirm a trade entry. For instance, the price breaks the high of the intraday breakout box. In such conditions, we may activate a buy order if the bullish breakout was supported by a rising volume bar.
In the same way, you can enter short whenever the price fails to move above resistance and rebounds for a bearish move. In such a case, volume bars must exceed their previous high to confirm a sell order.
Apply the horizontal lines for anticipating targets and Stop-loss positions for your active trade entries.
Check Out:
Market Profile & Trend Lines Indicator: Buy Conditions
- The price fails to break the nearest pivot support and makes a bullish turn.
- The bullish move is supported by an extensive volume bar.
- Place SL below the pivot support for long entries.
- Target an exit in a 2R profit.
Market Profile & Trend Lines Indicator: Sell Conditions
- The price fails to exceed the current pivot resistance and begins a bearish rally.
- A large volume bar appears to validate the bearish move.
- Place SL above the pivot resistance for short entries.
- Exit sell when the trade hits a 2R profit.
