PriceDensity mt4

PriceDensity is a smart, non-volume-based indicator that analyzes historical price action to determine key price levels with the highest frequency of occurrence. It automatically detects where the market has spent the most time – revealing hidden areas of support and resistance based on actual market behavior, not subjective drawing.

This tool is ideal for traders using price action, support/resistance concepts, liquidity zones, and cluster-based strategies. Whether you're scalping or swing trading, PriceDensity gives you a clear visual edge.

Key Benefits

• Detects high-activity price levels based on historical frequency

• Automatically draws price lines and density zones for visual clarityHighly adaptable to any symbol or timeframe

• Fast and lightweight, even when scanning deep history

• No reliance on volume – works purely with price, making it universally applicable

• Can be used manually or integrated with expert advisors (EA-compatible)

How PriceDensity Works

1. The indicator scans a defined number of historical bars ( AnalysisDepth ), starting from a given offset ( BackShift ).

2. It extracts prices using the selected source ( PriceSource ) — Close, Open, High, Low, Median, Typical, or Weighted.

3. Prices are grouped using a specified GroupingStep , forming a price frequency histogram.

4. The most frequent prices are extracted as the Top N levels ( LevelsToDisplay ), sorted by significance.

5. These levels are plotted as horizontal lines — the strongest level is shown as a solid line, others as dashed.

6. An optional density zone ( ShowDensityZone ) is drawn as a box between the highest and lowest clustered price.

7. The top level is written into the indicator buffer ( DensityBuffer[0] ) for use in automated systems or alerts.

Input Parameters Overview

Interpreting the Output

• The boldest line represents the highest price density — where price has appeared most frequently.

• Dashed lines show secondary zones of interest.

• The density zone box visually outlines the cluster range where the market spent the most time.

• These levels can be used as dynamic support/resistance, entry/exit references, or consolidation ranges.

Use Cases

• Identify automatic support and resistance levels based on actual price behavior

• Find liquidity clusters and zones of market interest

• Combine with volume, volatility, or price action tools for enhanced decision-making

• Integrate with EAs by referencing DensityBuffer[0]

• Ideal for Forex, stocks, futures, crypto, and any asset class

Recommended Settings

• Works best on timeframes M5 to H4

• Use a suitable GroupingStep according to instrument volatility (e.g., 0.0001 for EURUSD)

• Combine with trend filters or volume-based indicators for enhanced precision

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Conclusion

PriceDensity is a precision tool for professional traders who want to truly understand where price matters. Whether you're trading breakouts, reversals, or range setups, this indicator brings clarity to market structure and helps you make more informed trading decisions. Simple, elegant, and powerful — PriceDensity belongs in every serious trader's toolbox.