The Bar Profiler is an indicator that you essentially create yourself. It functions basically as a chart bar 'filter' - allowing you to generate signals on your chart based on criteria that you provide the indicator through its parameters. In the above example, you can see that I have set up the parameters to put an "H" above any bars where the bar close is 3 or more ticks from highest of the previous 3 bars' highs. I also put a second Bar Profiler indicator on the same chart to signal any bars with an "L" where the bar's close was 3 or more ticks lower than the lowest of the previous 3 bars' lows. The counter in the lower right corner shows that I have a total of 160 "H" bars on the chart.

This indicator has practically unlimited possibilities as you modify the parameters to signal any bar profile condition you can imagine that is based on volume, spread, extreme, close, and volatility. You can change the bar signal to the text and color you want, as well as generate an audible alert both when a bar is flagged and when the bar's signal expires.

The Bar Profiler indicator also offers our exclusive Matrix functionality. The Matrix is not discussed in depth here, but briefly, you can 'connect' two different charts with this indicator. By generating an output signal from one chart when a bar is flagged, you can have another chart 'read' that signal and use it as an additional criterion to generate a signal on the second chart. The 'receiving' chart does not have to be the same timeframe or even the same instrument as the 'sending' chart!

Imagine the possibilities!