Value Area Migration Boxes
This catalogue's VolumeProfile and CompositeSessionProfile indicators each build one merged profile and stop there. Neither shows how the value area moves from day to day, because merging days together is the whole point of a composite profile - the daily shape is exactly what gets lost. This indicator keeps every day separate on purpose: each calendar day in the lookback window gets its own tick-volume profile, its own point of control, and its own value area, drawn as an individual box spanning that day's own time window. Each day's profile bucket volumes are built the same overlap-weighted way as elsewhere in this catalogue - a bar's tick volume split across every price bucket its high-low range overlaps, proportional to the overlap. The value area then grows outward from that day's point of control, taking whichever neighbouring bucket (above or below) holds more volume at each step, until it covers InpValueAreaPercent of that day's volume - the same standard construction used throughout, just applied per day instead of to a merged multi-day set. Reading several consecutive boxes left to right shows value area migration directly: boxes climbing higher each day suggest an uptrending market accepting higher prices; boxes overlapping heavily suggest balance; a sudden gap between one day's box and the next suggests a level was rejected rather than accepted. Notes and limitations - Every volume figure is MT4 tick volume (price update count), never real traded contracts or lots. - A day with no bars in the loaded history (e.g. beyond how far back the terminal has downloaded) is skipped silently rather than drawn as an empty box. - Rebuilds once per new bar, not every tick, to keep the multi-day rescan affordable; today's box still updates live as new bars close. - No trade or stop-loss logic - visual analysis only.
Indicator · MT4 · v1.0 · Free
About Value Area Migration Boxes
Value Area Migration Boxes is an indicator for MetaTrader 4. It has 8 settings, such as Lookback days, Bucket pips and Max buckets. MQL source code included.
Files in the download: ValueAreaMigrationBoxes.mq4, ValueAreaMigrationBoxes.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Lookback days | 15 | Calendar days of boxes drawn, including today |
| Bucket pips | 5.0 | Bucket width, in pips, used to build each day's profile |
| Max buckets | 200 | Hard cap on bucket count per day (performance guard) |
| Value area percent | 70.0 | Percent of each day's volume the value area is grown to cover |
| Show poc line | true | Draw a short point-of-control tick inside each box |
| Box color | clrDodgerBlue | Value area box fill/border colour |
| Poc color | clrOrange | Point-of-control tick colour |
| Show date label | true | Label each box with its calendar date |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Volume · MT4 Indicator · MQL4 Source Code