Thanks Luke, i tried Fin-Alg and it suffers from the same problems. Also, it's less powerfull than what we can find in I/RT or MD. What bugs me is that i thought that all TPO profile should give the same values. This is not the case and i can't find a logical explanation.
Again the result depends on the resolution. 15 min TPOs will give you a different result than 30 min TPOs. The thing will only become accurate, if you use tick data and a volume distribution that has been generated independently from the bars or candle sticks.
The market delta TPO indicator has a specific setting for tick increments, for ES you can set that to 0.25. Not sure that this means that the indicator really uses tick data. It probably only divides the bar length by the tick increment to create the TPOs.
The indicators available presently for Ninja should use method A or B no matter as the differences should not be as significant as what i posted in the first comment. As of now i consider Ninja has no serious market profile available making the platform much less attractive in my eyes.
The MarketDelta value area definitions are somewhat arbitrary. Let us imagine that you have a vertical volume distribution with three peaks. Highest peak in the middle is POC. Now the other peaks are separated from the main peak by valleys. If one of the valley is deeper than the other one, the price action on the other side of the deeper valley will be totally excluded, even if the peak there is higher.
On the other side, if the MarketDelta results are independant from the time frame chosen, they may use a very high resolution, suhc as tick data.
Does MarketDelta show the same results for the value area on a 1 min chart, a 30 min chart, a 5 range chart and a 277 tick chart?
Your question is similar to asking if 1200 price level on a 1 min chart is more accurate than 1200 price level on a 30min chart. If we use a MP based on TPO's the standard convention is to use a 30min chart. Everyone else use that interval except those who prefer transcendental numbers. But more seriously, if you use a 1 min chart you'd still want to know the numbers coming from the standard 30min interval. That's how i look at MP as an absolute area developing during the day.
EDIT: i have checked on I/RT and whether or not we change the interval the value area stays the same.
Last edited by trendisyourfriend; November 2nd, 2010 at 12:58 PM.
The following user says Thank You to trendisyourfriend for this post:
I don't know how do u use it and if u find it useful, but in my view MP is an old good tool for the time steidlmayer invented it, but not more actual for today markets. Now there are more powerfull tools, starting from volume profile, vwap with standard deviation......etc...ie statistics applied to volumes.
Take your Pips, go out and Live.
The following user says Thank You to LukeGeniol for this post: