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Market Profile Singles Indicator Review

5.00 star(s) 4 Votes

Forexpro23

New Member
Today we will examine this indicator: Market profile singles (we can also call it a single print indicator or a gap indicator).
You can find it on the mql5 market under the name "market profile singles indicator". It is in version metatrader 4 and metatrader 5.
This indicator is based on market profile theory. Displays the singles area.

market-profile-singles-indicator-640x412.jpg

What exactly is a singles area?

Theory: Market Profile Singles :

Singles or single prints or gap of the profile are placed in the inside of a profile structure, not at the upper or lower edge.
They are represented with single TPOs printed on the Market profile.
Singles draw our attention to places where the price moved very fast (impulse movements). They leave low volume nodes with liquidity gaps and therefore the market imbalance and show us the area of imbalance.Singles are usually created when the market reacts to unexpected news. It is these reports that are capable of causing extreme imbalances and preparing the spawn for the extreme emotional reactions of buyers and sellers.
The market will want to revisit this area and examine whether these price levels are not traders interested in trading at these prices. Why should these merchants be there? Because the market literally flew through the area and only a small number of traders got a chance to trade there. For that these areas are likely to be filled in the future .
These inefficient moves tend to get filled and we can seek trading opportunities once they get filled or we can also enter before they get filled and use these single prints as targets.

The author adds:
Used as support/resistance zones , but be careful not always.Usually it works very well on trend days . See market profile days: trend day (Strategy 1 - BUY - third picture) and trend day with double distribution (Strategy 1 - SELL- third picture) .
It is good to start the trend day and increase the profit
but Be aware that trend days are only 15 - 20% of the time
Therefore, I mainly recommend strategy 2, which is 75-80% of the time .
These levels are watched by the big boys and the banks. This indicator will show you these levels.
Remember there is more than a 70-80% chance that these areas will be tested in the future. This puts the probability to our side.
Observe money and risk management .Always use a stop loss . RRR minimum 3:1 .Take a risk a maximum of 0.5 - 1% of the account per trade.
I enclose three strategies that I trade myself.
These three strategies are repeated in the market, so it is good to trade all three .

So let's imagine these strategies:

Strategy 1: Trend is your friend
Strategy 2 : Test the nearest level
Strategy 3 : Close singles and continuing the trend
Recommended time frame is M30​

Strategy 1 - BUY :
1. A bullish trend has begun
2. The singles area has been created
3. The prize goes to the side and stays above the singles area
4. We buy above the singles area and place the stop loss under the singles area
5. We place the target profit either according to the nearest market profile poc or resistance or under the nearest singles area.We try to keep this trade as long as possible because there is a high probability that the trend will continue for more days
1.jpg
2.jpg
3.jpg
4.jpg



Strategy 1 - SELL :
1. The bear trend has begun
2. The singles area has been created
3. The prize goes to the side and stays under the singles area
4. We sell below the singles area and place the stop loss above the singles area
5. We will place the target profit either according to the nearest market profile poc or support or above the nearest singles area.We try to keep this trade as long as possible because there is a high probability that the trend will continue for more days.
1.jpg 2.jpg
3.jpg
4.jpg

Before we start strategy 2, we will explain what it is Initial Balance .(IB) is the price range of (usually) of the first two 30 minute columns of session of the Market Profile.
Initial Balance may help define the context of the trading day.
The IBH (Initial Balance High) is also seen as an area of resistance and the IBL (Initial Balance Low) as an area of support until it is broken.

Strategy 2 - one day - BUY:
This strategy will take place on a given day
1. There is a singles area near IB. (singles area was created on a given day)
2. The price goes sideways or creates a V-shape
3. We expect to return to the singles area or IB. We buy low and place the stop loss below the daily low (preferably a little lower) and place the target profit below the IBL (preferably a little lower).
1.jpg
2.jpg


Strategy 2 - one day - SELL:
This strategy will take place on a given day
1. There is a singles area near IB. (singles area was created on a given day)
2. The price goes sideways or creates a reversed font V
3. We expect to return to the singles area or IB. We sell high and place the stop loss above the daily high (preferably a little higher) and place the target profit above the IBH (preferably a little higher).
1.jpg
2.jpg


Strategy 2- more days- BUY:
This strategy lasts more than one day (Singles were created yesterday or more days ago)
1. After the trend, the price goes to the side and does not create a new low (or only minimal but with big problems)
2. Nearby is a singles area ( Since the price cannot go to one side there is a high probability that these singles will close ).
3. We buy at a low and stop loss we place it a bit lower. We will place the target profile under the singles area .
1.jpg
2.jpg
3.jpg


Strategy 2- more days- SELL:
This strategy lasts more than one day (Singles were created yesterday or more days ago)
1. After the trend, the price goes to the side and does not create a new high (or only minimal but with big problems)
2. Nearby is a singles area ( Since the price cannot go to one side there is a high probability that these singles will close ).
3. We sell at a high and stop loss we place it a bit higher. We will place the target profile above the singles area .
1.jpg
2.jpg
3.jpg


Strategy 3 - BUY:
1. The current candle closes singles
2. Add a pending order above the singles area and place the stop loss under the singles area or low candles (whichever is lower)
3. Another candle must pass above the singles area. (If this does not happen, we will delete the pending order) .
4. We will place the target profit either according to the nearest market profile poc or resistance or under the nearest singles area.
1.jpg
2.jpg
3.jpg


Strategy 3 - SELL:
1. The current candle closes singles
2. Add a pending order under the singles area and place the stop loss above the singles area or high candles (whichever is higher)
3. Another candle must pass under the singles area. (If this does not happen, we will delete the pending order) .
4. We will place the target profit either according to the nearest market profile poc or support or above the nearest singles area
1.jpg
2.jpg
3.jpg


Discussion
These strategies look really interesting. As the author himself says:
It’s not just a strategy. There is more to it in profitable trading. For me personally, they are most important when trading: Probability of profit, patience, quality signals with a good risk reward ratio (minimum 3: 1) and my head. I think this is the most important.
In this, we must agree with the author.

Service Cost
The current cost of this indicator is $50. You are also able to rent the indicator. For a one-month rental, it is $30 per month. There is also a demo version available it is always worth testing out the demos before purchasing. Though.

After purchasing the indicator, the author sends two more indicators to his customers as a gift: Market Profile Indicator and Support and Resistance Indicator.

Conclusion: There are only 2 reviews for the indicator so far, but they have 5 stars and are very positive.

For us, this indicator is interesting, and it is a big plus that the author shares his strategies. The price is also acceptable since the indicator costs 50 USD = 5 copies (10-USD / 1 piece), and since the author sends another 2 indicators as a gift, this price is really worthwhile.

The author added:

By studying the market profile and monitoring the market, I came up with an indicator and strategies we would like to present to you. Here you can watch the video:






 

Forexpro23

New Member
I had purchased this indicator for one month. I made a profit. I will buy the full version. I communicated with the author. He is very right about how to approach trading. The market profile and supply and demand zone indicators also give me as a gift. I recommend it to everyone . Ok handOk handOk hand
 

4xnoob

New Member
Thank you for the information. Please provide future updates to help us make a decision to purchase. Thanks.
 

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