I wonder if it is possible in MT4 to do that. In particular how we can obtain the total volume exchanged for each price which has formed the candle (For total volume I mean the tick volume not the real volume).Calculation
How to Calculate Value Area (VA)
- Determine the total volume traded in the profile (total buys and sells).
- Take the number of total buys and sells and multiply it by .7 to determine what number is 70 percent of the total buys and sells. (70% is a typical example however
any percentage can be used by the trader).
- Start at the POC (The row in the profile with the greatest total volume) and record its total volume number. The POC will be the first profile row added to the Value
Area.
- Now look at the two rows above the POC (the initial value area) and add the total volume of both.
- Now look at the two rows beneath the POC (the initial value area) and add the total volume of both.
- Determine which of the total volume numbers is larger and add it to the total volume number of the POC found in step 3.
- Repeat steps 4 and 5 adding the larger of the two numbers to the Value Area.
Once the total volume of your Value Area matches or slightly surpasses the number found in step 2, the Value Area has been determined.
The highest row within the Value Area will be your Value Area High (VAH) and the lowest row within the Value Area will be your Value Area Low (VAL).
My request comes from the fact that I would like to draw the POC for each candle as in tradingview with the indicator (Profile Volume Periodic) PVP, image below.
This is done for each timeframe by TradingView.
