Market Profile Fixed View

The Market Profile Fixed View indicator draws a market profile histogram based on price variations within a user-defined time window to help identify key supply and demand zones regardless of volume availability.

Usage

The Usage section describes how the script can be used to analyze market structure over specific periods. Traders can use this tool to identify the Point of Control (POC) and price distribution between a chosen start and end date.

Examples of use cases include:

• Analyzing a specific trading session or news event by setting the start and end times to the event's duration.
• Identifying support and resistance levels on instruments that lack volume data (e.g., certain Forex pairs or Indices) using price-action-based profiling.
• Monitoring price rotations around the POC to determine market sentiment or potential reversals.

Details

This script constructs a market profile by segmenting the price range between the highest high and lowest low of a specified duration into a fixed number of price bins. It then calculates a "score" for each bin based on how often price action intersected that level.

Key implementation details include:

• POC Calculation: The Point of Control is automatically identified as the price level with the highest frequency of activity within the selected range.
• Visual Representation: The profile is rendered using boxes, creating a histogram that extends from the start of the calculation period.
• Compatibility: Since it relies on price movement rather than volume, it provides a consistent profiling method across all asset classes.

Settings

Display Options

• Invert colors: Reverses the shading logic of the histogram bars.
• Shading colors: Selects the color palette (R/G, G/B, B/R) for the profile distribution.
• Third Color: Allows fine-tuning of the RGB color value for the histogram.
• Transparency: Adjusts the opacity of the histogram bars.
• Bars number: Sets the vertical resolution (number of price bins) for the profile.
• Black borders on bars: Adds a border to each histogram box for better definition.
• Display width: Controls the horizontal scale/multiplier of the histogram bars.
• High and Low colors: Sets the color for the lines marking the profile's range boundaries.
• Market profile area background color: The background color for the entire profile box.
• Poc color: Customizes the color of the Point of Control line.
• Show POC: Toggles the visibility of the Point of Control.
• Extend POC: Extends the POC line to the right of the current price action.
• Show Market Profile area background: Toggles the background fill of the profile area.
• Show histogram: Toggles the visibility of the distribution bars.
• Show high/low levels: Toggles the horizontal lines for the period's high and low.

Data

• Start Calculation: The starting timestamp for the profile data window.
• End Calculation: The ending timestamp for the profile data window.

FAQ

How do I access Market Profile Fixed View?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Does this indicator require volume data?

No, this tool is specifically designed to work on instruments without volume data by using price variations and time-at-price principles.

Can I use this for intraday sessions?

Yes, by using the "Start Calculation" and "End Calculation" inputs, you can lock the profile to any specific intraday period or multi-day range.