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So been messing around with Market Profile on NT8 and somewhere in the middle of getting it set up like I wanted it I realized that it seemed to me there is no functional difference between MP and 30 minute candles. Opinions?
Yes and no. 30 minute candles won't overlap like columns of letters so it's visually harder to assess the amount of time spent at a given price if you are 'interpreting' market profile using 30 minute candles. Likewise, weak tops and bottoms, tails, single prints, etc., are less visually apparent but sure, if you are proficient at reading market profile you can read the story from 30 minute candles.
The candles don’t show where volume is thickest... it gives a rough idea, but if I showed you a candle chart from today... say RTY for example, and tried to show at what price the most volume was traded, well it can’t be done.
More accurately 'where the most time was spent at a price'. Market Profile originated from a time before real time volume was readily available so uses time spent at a price as a proxy for volume however it is this time dimension, which volume profile does not have, which makes it very complementary to volume profile for analysis given that humans still operate on the basis of sleeping, working, etc. and undertake time-based activities and decision-making.