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CL Market Profile Analysis
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CL Market Profile Analysis

  #171 (permalink)
Trading Apprentice
India
 
Futures Experience: Intermediate
Platform: Multi charts
Broker/Data: Esignal, interactive brokers, religare
Favorite Futures: Nifty
 
Posts: 18 since May 2010
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David_R View Post
Here are some MP charts for CL with S/R as well as something new I am looking at. I have some of what Orderflow Analytics offers, but from what I am told CL may be to thin of a market for it, but I'm hoping if when trading at predefined levels and or the VWAP area for continuation, it may be useful. I've posted some examples based on the profile, the 1000 volume chart with VWAP and the OFA charts. Enjoy.

David

Thanks David for order flow charts. Totally agree that scalp signals should be used in context of mp levels, especially it will work good on high & low of previous excess zones. I am curious, can we build a strategy around and backtest order flow signals in OFA ?

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  #172 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
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Posts: 1,510 since Nov 2009
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cunparis View Post
I asked about bootcamp cause I wanted to get the software but I read they won't do it without bootcamp. I feel like I have a good handle on the volume ladder patterns (responsitive & intiative buying & selling) from l2st, the ofa webinars, and other sites. so I don't want to pay $2500 either. I imagine they'll have to lighten up on this if they want experienced traders to use their software.

So how much is it per month?? I'm interested in trying it for a month.

Yeah I meant higher liquidity or volume markets. ES is great. I think Euro is interesting cause it's a mix between liquidity of ES & volatility of CL. I mainly studied CL while in the l2st room and you have to be very very quick and get out quickly when wrong. You have to be willing to take several shots at it and then hold for a big winner. It's a different method than what I use on ES. It works for Kam of L2ST so I'm sure with a lot of practice one can do it.

The software can be leased for $100/mo. that is for the license. If you want the indicators shown which include the cluster classification (colored areas), COT (colored COT) and Scalp(gold box) they charge extra as a one time fee. The also offer pivots that are based on volume not OHLC and are like value areas etc. They seem to work well from what I've seen, but I already spent too much. they have all the prices on the site for the indies. I don't recall all the pricing.

D

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  #173 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
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cunparis View Post
I asked about bootcamp cause I wanted to get the software but I read they won't do it without bootcamp. I feel like I have a good handle on the volume ladder patterns (responsitive & intiative buying & selling) from l2st, the ofa webinars, and other sites. so I don't want to pay $2500 either. I imagine they'll have to lighten up on this if they want experienced traders to use their software.

So how much is it per month?? I'm interested in trying it for a month.

Yeah I meant higher liquidity or volume markets. ES is great. I think Euro is interesting cause it's a mix between liquidity of ES & volatility of CL. I mainly studied CL while in the l2st room and you have to be very very quick and get out quickly when wrong. You have to be willing to take several shots at it and then hold for a big winner. It's a different method than what I use on ES. It works for Kam of L2ST so I'm sure with a lot of practice one can do it.


Alexlaxmikant View Post
Thanks David for order flow charts. Totally agree that scalp signals should be used in context of mp levels, especially it will work good on high & low of previous excess zones. I am curious, can we build a strategy around and backtest order flow signals in OFA ?


The OFA software is a stand alone platform. Its not an add on to Ninja. It does link to ninja for one trade type, but that's it, so I don't think any back testing can be done. the software is very vanilla. No indicators like MACD, no drawing tools etc.

David

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  #174 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
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David_R View Post
The software can be leased for $100/mo. that is for the license. If you want the indicators shown which include the cluster classification (colored areas), COT (colored COT) and Scalp(gold box) they charge extra as a one time fee. The also offer pivots that are based on volume not OHLC and are like value areas etc. They seem to work well from what I've seen, but I already spent too much. they have all the prices on the site for the indies. I don't recall all the pricing.

It's unfortunate they have a one-time fee cause that makes trying it out for a month very expensive. What use are the indicators without the software? Doesn't make sense unless one is going to lease it for a year or more.

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  #175 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
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Posts: 1,510 since Nov 2009
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cunparis View Post
It's unfortunate they have a one-time fee cause that makes trying it out for a month very expensive. What use are the indicators without the software? Doesn't make sense unless one is going to lease it for a year or more.

They may allow a month trial with the indies, but I don't know.

D

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  #176 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
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David_R's Avatar
 
Posts: 1,510 since Nov 2009
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Here is a MP chart for CL with some S/R levels. I also show some possible trade areas with the OFA software. The software is probably better with markets with more volume.

D

Attached Thumbnails
CL Market Profile Analysis-cl521-1.jpg  
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  #177 (permalink)
Elite Member
Pleasant Hill, CA
 
Futures Experience: Intermediate
Platform: Tradestation
Broker/Data: Tradestation
Favorite Futures: CL, RB, HO, YG, YI, EMD, US
 
chipotlebop's Avatar
 
Posts: 252 since Jan 2010
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David_R View Post
Here is a MP chart for CL with some S/R levels. I also show some possible trade areas with the OFA software. The software is probably better with markets with more volume.

D

What time frame do your profiles represent? You could trade that in real time on the sim.
I like your charts.

Attached Thumbnails
CL Market Profile Analysis-2010-05-21_cl_value.png  
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  #178 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
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Posts: 1,510 since Nov 2009
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chipotlebop View Post
What time frame do your profiles represent? You could trade that in real time on the sim.
I like your charts.

CB,

Thanks. I need to do more sim trading. I'm not a very good early riser and I'm on the west coast. Bad excuse, I know.

The profiles are daily profiles. Each TPO period is 30 minutes.

D

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  #179 (permalink)
Elite Member
Toronto Canada
 
Futures Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker/Data: AMP,Global Futures
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Posts: 97 since Jun 2009
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OFA Software


David_R View Post
Here is a MP chart for CL with some S/R levels. I also show some possible trade areas with the OFA software. The software is probably better with markets with more volume.

D

Hi David,

Ist thanks for this useful thread. You are using OFA plateform and if so then whats your opinion about its performance as compared to what they speaks. I go through all recordings and looks good for ES as they quote all examples from ES. 2nd as you mentioned that might probably the possible return point , you are right as most of time traders play CL just from smaller time frames just hit and run, If you show that point from 5 and 15 mint chart then may be it provide better idea. one more question, which one charts better work with OFA software, time or volume. Can you give example for ES and CL.

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  #180 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
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Posts: 1,510 since Nov 2009
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KJAVED View Post
Hi David,

Ist thanks for this useful thread. You are using OFA plateform and if so then whats your opinion about its performance as compared to what they speaks. I go through all recordings and looks good for ES as they quote all examples from ES. 2nd as you mentioned that might probably the possible return point , you are right as most of time traders play CL just from smaller time frames just hit and run, If you show that point from 5 and 15 mint chart then may be it provide better idea. one more question, which one charts better work with OFA software, time or volume. Can you give example for ES and CL.

KJAVED,

I have not gone live yet with the OFA platform, but that is my plan. I want to find the areas of support and resistance from the market profile work and use the OFA for entry. I know someone else that is using it and they were the one that got me into it. They spoke very highly of it. OFA offers a training course on their software. They have their own way of using it.

The bars are not time based or volume bars, at least that is what I am told. The time periods are based on an auction and some kind of exhaustion. When the exhaustion occurs a new auction begins, so there is not setting for 15 minutes or 5 minutes, or whatever. Originally the package was only for the ES, but since their last release they have a multi instrument version. CL may be to thin, but I am told others use it on the 6E.

There is a Market profile thread for the ES as well. I show an example or two there.

David

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