Market Profile Virgin P POC Indicator
MT4The Market Profile Virgin P POC for MetaTrader is a technical tool that displays the volume distribution of the price of an asset.
Description
The Market Profile Virgin P POC for MetaTrader is a technical tool that displays the volume distribution of the price of an asset. It is an interesting forex trading tool that will help you in making sound trading decisions.
This indicator is essentially a tool that gives you a visual representation of different market conditions like the distribution and flat phases in a trading session. The two important components of this technical indicator are the value area (depicted with the histogram) and the virgin point of control (green horizontal lines).
The value area shows the zones that have a lot of volume from past trading activities, and as such, the price tends to return to such an area. Conversely, the virgin points of control (POC) tend to act as support and resistance because they are the untested point of control zones from past trading sessions.
How to Trade With Market Profile Virgin P POC Indicator
The above image depicts the action of the indicator on a EURUSD pair in an M30 time frame. It also shows how the buy signal and entry were generated.
From the above image, you can see that the price formed a bullish order block, pulled up towards the area of value, and retraced back to retest the order block. This expression gives us a bullish confirmation and a buy trade entry opportunity.
Remember that the essence of the indicator is to help you to find trading opportunities by anticipating the return of the price to the area of value. Furthermore, it also helps you to anticipate a potential trend reversal when the price bounces off the virgin POC.
Conclusion
The Market Profile Virgin P POC indicator for MT4 is a top-notch trading tool that would come in handy for a novice, intermediate and advanced forex trader. Besides, it is also suitable for scalping and day/intraday traders. Finally, it is free to download.
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