This indicator was developed by the vendor AlgoDeveloper over many years fine-tuning its performance taken from feedback from users and they did a very good job creating the 5 very useful volume profile indicators, they use the tick volume data instead of real volume because Forex does not provide real volume.
What is a Volume Profile?
The cTrader Volume profile indicator is a supporting tool for a trader that can determine the major levels that leading market players take into account in their trading, this type of indicator is also known as horizontal volume. There are 5 different types of volume indicators included in the download.
The core benefit of this indicator is that it can be used with almost any trading strategy as it allows you to analyse the financial markets using horizontal volumes to give you a more reliable signal to enter or exit a trade.
How does it work?
These indicators use tick volume to calculate the buyers and sellers and show this information on the chart as horizontal bars, the link below will explain how they plot the profile and how they collect the data from price and tick volume.
The Horizontal volumes are shown on the chart as a level scale, so you can determine the price at which traders made the maximum number of transactions. The strongest traded levels are easy to identify visually as they are shown as the longest bars.
Volume profile indicator types
Each of the indicators work differently depending on how you wish to use them, follow the relevant link below for a detailed explanation of each one.
You can find a full description of each setting on the vendor's website below, if there is anything we have missed please use the chat group link at the bottom of this page.
Watch a Video Demonstration
The video has been uploaded to 1080p High Quality, so do not forget to set your U-Tube video quality to 1080p HD.
Duration: 12 minutes - Watch full screen on YouTube
How To Install & Open
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
Instant Chat Support
If you want a speedy reply to your questions just post your questions on our Telegram chat group.