Fixed Range Volume Profile Update
Level up your trading with MMT's new Fixed Range Volume Profile (FRVP) tool. Analyze volume distribution over a custom-defined range, complete with Point of Control (POC) and Value Area (VA). Plus, get enhanced footprint theming, bug fixes, and early access to the scripting beta.
🚀 Fixed Range Volume Profile
To view the distribution of market buy & and market sell volume across a range of price levels, order flow traders will often use a variety of profile based tools. Within MMT, there are a range of Volume Profile tools including Session (VPSV), Visible Range (VPVR) and also the dedicated Volume Profile as an element of TPO / Market Profile. One tool however - Fixed Range Volume Profile - was sorely missing from the terminal.
Today we welcome this powerful tool's arrival to your terminal. Whilst the previously mentioned Volume Profile tools use predefined sessions or the range of candles currently within view, the FRVP allows you complete flexibility to specify a particular Fixed Range in which to assess volume distribution. Often used to assess the distribution of volume between a high and a low (and vice-versa), all element of the Volume Profile are present including the respective Point of Control (POC) and Value Area High (VAH) & Value Area Low (VAL).
Given the nature of the FRVP tool, it resides amongst the other drawing tools. Navigate the the drawing tools menu and select 'FRVP'. Once selected, you are required to determine the range that will be used to assess the distribution of volume. Your first click will determine the candle used as the start of the range, with your next subsequent click defining the final candle that should be included within the range. Upon defining the range, the FRVP will be rendered on your chart.
All the additional configuration options you'd expect within volume profile tools, are also available with the new FRVP tool. Rendering mode selection, naked extensions of Point of Control & Value Areas and the usual styling and theming options are available to be configured and customized to your preferences.
⭐ Footprint Theming Options
Over the past few releases, we have added a range of methods to style & theme your terminal. These improvements were not for cosmetic purposes. A careful and considered approach to styling should enhance your trading workflow. Color can be incredibly useful to provide a visual distinction and subsequent filtering - particularly when applied to graded elements within the terminal.
One element that was yet to receive some love in this regard were the footprint charts. Depending upon certain choices of color, at times a lack of visual contrast between the graded background & the values themselves within each node of the footprint could at times be difficult to read.
Today's update applies new logic to the underlying grading, providing a better visual distinction for the values displayed within the footprint. This ensures that irrespective of the choice of colors selected, readability should not be an issue. Providing there are visual problems with this approach, we will look to apply this new grading logic across other elements and widgets in the near future.
🐛 Bug Fixes
Whilst each update brings new functionality to your terminal, at times these improvements and additions can introduce intermittent bugs or edge-cases. Today's update a few issues some users were experiencing.
Fibonacci Timeframe Conflict - Resolved an conflict of Fibonacci plots when switching from higher to lower timeframes.
Custom Fibonacci Levels - Prevented inadvertent deletion of Fibonacci plot when modifying custom level inputs.
Weekly & Monthly TPO on Low Timeframes - Fixed intermittent rendering issue on lower timeframes when TPO layer was set to Weekly or Monthly.
🧪 Access Scripting Beta
Ok, we know a good few of you will have skipped immediately to read this part.
We get it, we know what a game-changer this will be to your trading and the terminal as a whole.
Good news is that we plan to release the first beta version of scripting within the next 24 hours. The interns at MMT are working round the clock to deliver it as soon as possible.
To ensure you have access upon launch, add your MMT email to this form, and access will be granted when the beta launches. Please ensure you enter the email address associated with your MMT PRO subscription. Full launch details of the beta, including the announcement when live, will be made on our discord.
Until next time, MMT Team ❤️