Article-22342-Liquidity-Spectrum-Volume-Profile-Indicator

This repository is an article-derived reference project based on the original MQL5 article. It does not claim to reproduce the full original source code unless files are explicitly attached.

Overview

This project documents and reconstructs the MQL5 indicator described in the article about building a Liquidity Spectrum Volume Profile for MetaTrader 5.

The indicator analyzes a configurable lookback window, splits the observed price range into equal bins, accumulates volume into those bins based on candle close prices, normalizes the result, and draws:

• volume profile rectangles,
• Point of Control (POC) / liquidity lines,
• supporting chart objects positioned using bar-offset to datetime conversion.

The article emphasizes deterministic data access through Copy* functions and object lifecycle management via a dedicated prefix.

Original Article

• Article ID: 22342
• Title: Liquidity Spectrum Volume Profile Indicator
• Author: Israel Pelumi Abioye
• Publication date: 2026.05.01
• Category: Trading / Indicators
• URL: https://www.mql5.com/en/articles/22342

Repository Purpose

This repository should be treated as a reference/reconstruction project derived from the article text and code excerpts.

Its purpose is to preserve the implementation approach described in the article:

• stable lookback data retrieval with CopyHigh, CopyLow, CopyClose, CopyTime, and volume copy functions,
• price-range segmentation into bins,
• close-price-based volume assignment,
• normalization of bin intensity,
• chart-object rendering for profile boxes and POC lines,
• cleanup of indicator-created objects using a fixed prefix.

Key Concepts

• Volume profile over a fixed lookback
• Equal-width price binning
• Volume assignment by candle close price
• Tick volume preferred, real volume fallback
• Normalization against the maximum bin volume
• Profile width scaling with a fixed maximum width
• POC detection using a threshold on normalized bin strength
• Chart rendering with OBJ_RECTANGLE, OBJ_TREND, OBJ_VLINE, OBJ_TEXT
• Object namespace isolation with OBJ_PREFIX
• Conversion from bar offsets to datetime for drawing placement

Algorithm / Architecture Summary

1. Input handling

• User inputs include lookback length and toggles for profile and liquidity lines.
• The article also references configurable constants such as number of bins, maximum profile width, object prefix, and POC threshold.

2. Data acquisition

• Historical data is copied explicitly using terminal copy functions rather than relying only on OnCalculate arrays.
• Arrays are configured as series.
• Volume retrieval prefers tick volume and falls back to real volume.

3. Range detection

• Highest high and lowest low over the lookback define the analyzed price range.
• The implementation aborts if the range is invalid.

4. Bin construction

• The range is divided into N_BINS equal price intervals.
• A bins[] array stores accumulated volume for each interval.

5. Volume accumulation

• For each bin, all candles in the lookback are scanned.
• A candle contributes its volume to a bin when its close price falls within the bin range, with a one-step overlap (lower - step to upper + step) described in the article.

6. Normalization

• The maximum bin volume is detected.
• Each bin width is scaled relative to that maximum using MAX_BAR_WIDTH.

7. Drawing

• Boxes are drawn with helper functions that create-or-update chart objects.
• POC lines are drawn for bins above POC_THRESHOLD.
• Time placement uses a BarsAgoToTime(...) utility to support offsets both inside and beyond copied history, including limited future projection.

8. Lifecycle

• Recalculation is triggered on initialization and on new bars.
• All indicator-created objects are removed on deinitialization via prefix filtering.

Mentioned or Attached Files

Explicitly attached files

No attached source files were available in the processed input.

Files only mentioned in text

The article provides inline MQL5 code fragments for an indicator implementation, including functions and structures such as:

• RecalcVolumeProfile()
• RecalcVolumeProfile(bool &need_redraw)
• DeleteAllObjects()
• BarsAgoToTime(...)
• DrawBox(...)
• DrawTrend(...)
• OnInit()
• OnDeinit(...)
• OnCalculate(...)

Because no standalone file list was provided, the exact repository filenames are unknown.

Statistics

• Article ID: 22342
• Language: en
• Sections identified: 4
• Code examples present: Yes
• Images/figures referenced: Yes

Tags

mql5, metatrader-5, indicator, volume-profile, liquidity-spectrum, poc, chart-objects, tick-volume

Difficulty

Intermediate

Limitations

• The full original source code was not provided as attached repository files in the processed input.
• The README is based on article text and embedded code excerpts only.
• Author, publication date, and category were not available in the provided input and therefore cannot be stated with certainty.
• Exact final file names, folder structure, and any additional helper modules are unknown.
• Some examples in the article appear incremental and demonstrative; they may not represent a single final compilable source file without integration work.

Reference

Original article: https://www.mql5.com/en/articles/22342