The Blahtech Market Profile can be found on the MQL5 marketplace, we have added a link to it below. The indicator was uploaded by Blahtech Limited on the 18th of December 2015, it was most recently updated on the 1st of August 2019 and is currently at version 2.9.
Overview
Blahtech Market Profile is an indicator for the MetaTrader 4 trading platform, it was created to help you determine market behaviors. It helps to see the value zones which are ranges where 70% of trading took place.
Key features of the Blahtec Market Profile indicator:
- Configuration presets for schedules on higher timeframes
- Auto-switching of focus to the next active session
- The highlight of business rules – Open, IB Extension, and Rotation Rules
- Multi-session display
- Backtest directly on the chart
- Custom session times
- Custom intervals and timeframe period
- Market and volume profiles
- Overall Market and volume profiles
- Text-based TPO profiles
- Configurable TPO start letter
- Value area, Volume value area
- Initial balance, Point of control
- Fast access hot-keys
There are a number of different parameters available to alter, some of them include the configuration presets, interval periods, profile lines, overall volume, overlay charts, profile text, summary text, hotkey, and many others including backtesting mode, and calculating TP size factors.
Service Cost
The indicator can currently be purchased for $119, this will enable you to use it as much as you desire with no limitations if you would prefer, there is also the option to rent it, you can rent in on a monthly basis which will cost you $25 per month, or you can rent it for three months which will cost you $32.
There is a free version available too, this free demo will have some limitations which are unfortunately not mentioned on the website, so we are not fully clear what they are. It is always worth using the free demo version just to make sure the indicator does what you need it to do.
Conclusion
At the time of writing, there are 12 different user reviews, they have given the indicator and overall rating of 4.5 out of 5.
“Three stars due to lack of sufficient material explaining the purpose of each setting and how to use it. When you are selling a high-end indicator such as this with so many settings, you should at least provide sufficient documentation (with images) explaining how to use each setting and what its purpose is. You have provided some material, but for the most part, you have left it up to the user to figure out how to use the indicator. That’s not a professional way to do business.” – A 3-star review.
“Waste of money! Most of the time [it] doesn’t show anything, no profile at all. If it shows any profile it is with barely any detail. Highly overrated! Not recommended for purchase.” – A 1-star review.
“I bought this indicator together with the Daily Range indicator over a month ago so that I can give an honest review. I have to say….just as the Daily Range Indicator, Market Profile is amazing. I have this indicator currently running on 15 charts at the same time on an older PC and I have not once experienced a slowdown or freezing of MT4. The features in this indicator are truly amazing, which makes my life so much easier. Thank you Blahtech 🙂” – A 5-star review.
So there is a range of reviews, however, there are far more 5 out of 5 ratings than any other rating which is a good sign. The creator also seems to be replying to the majority of comments which shows that they are still supporting the indicator. As always, download the free version and send any queries to the developer, this way you can ensure that the indicator is right for you before you make a purchase or rental.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13443
