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Sort of Market Profile indicator
Updated: Views / Replies:46,509 / 89
Created: by gomi Attachments:40

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Sort of Market Profile indicator

  #21 (permalink)
Elite Member
UK London
 
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gomi View Post
It uses up/down colors of your chart. You can change saturation by modifying the alpha parameter in the settings.

Sorry gomi I don't follow.
Your last chart on post#6 has the per bar volume profiles.
The volume at each price is sometimes green/black and sometimes red/black,
over the course of one bar.
I thought the red/green colour was if there were more bid or ask within the total (black) volume at each price?

Oddly, I do have this per bar profile plotting red/black and green/black at each price over the coarse of a bar, on one ES chart but it is only plotting red/black at all prices on all bars on another identical ES chart and only red/black at all prices on all bars on all currency charts.
?
Thx

 
  #22 (permalink)
Elite Member
london
 
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i am getting all sorts of err msgs in my log file - failed to set property starthue, minutestep, endhue, rthlength and failed to call method initialise for indicator GomMP?

 
  #23 (permalink)
Elite Member
Paris
 
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zt379 View Post
Sorry gomi I don't follow.
Your last chart on post#6 has the per bar volume profiles.
The volume at each price is sometimes green/black and sometimes red/black,
over the course of one bar.
I thought the red/green colour was if there were more bid or ask within the total (black) volume at each price?

The colored part is the delta. Colored part + black part = total volume.
Up/Down colors used (for the delta) are the colors defined up/down for the bars on your chart.


zt379 View Post
Oddly, I do have this per bar profile plotting red/black and green/black at each price over the coarse of a bar, on one ES chart but it is only plotting red/black at all prices on all bars on another identical ES chart and only red/black at all prices on all bars on all currency charts.

Could you post pictures containing price +GomMP+GomCD ?

Thanks

 
  #24 (permalink)
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anniebee321 View Post
i am getting all sorts of err msgs in my log file - failed to set property starthue, minutestep, endhue, rthlength and failed to call method initialise for indicator GomMP?

Mm strange. May be a problem with the global parameter setting I used. I'm changing it, please check with new version when it's available.

 
  #25 (permalink)
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gomi View Post
The colored part is the delta. Colored part + black part = total volume.
Up/Down colors used (for the delta) are the colors defined up/down for the bars on your chart.


Could you post pictures containing price +GomMP+GomCD ?

Thanks

My mistake gomi, I now understand the bar colour/delta colour combination.
My apologies for taking your time unnecessarily and gratitude for your indicators and help.

(I hadn't realized the up bar colour was set to Black on the chart not showing any
green/black profile at price ).

Thx..

 
  #26 (permalink)
Elite Member
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New version 1.2.
Each indicator now correctly has its own settings.

Attached Thumbnails
Sort of Market Profile indicator-mp1.2.png  
Attached Files
Register to download File Type: zip GomMP1.2.zip (5.6 KB, 138 views)
 
  #27 (permalink)
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CA
 
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any possibility to show the value areas and POC per profile?

 
  #28 (permalink)
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playafh69 View Post
any possibility to show the value areas and POC per profile?

Dunno on these ones... the POC should be easily spotted by eye, and I'm not a firm believer of VAH and VAL for now (will change if proven the opposite) since I believe the market is not Gaussian so that 2*sigma 68% stuff is nonsense.

Anyway both stuff would require some serious evolutions in the code because it wasn't really implemented to allow that, so I'll pass for now, but who nows :-)

Thanks for your suggestions.

The following user says Thank You to gomi for this post:
 
  #29 (permalink)
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CA
 
Futures Experience: Master
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value areas usually provide great support and resistance when the market is balanced, it doesn't occur that often( maybe about 18%), but it does occur. Also, when trending, markets tend to visit upper or lower value from previous day before continuation or range expansion. It doesn't always come down to touch the POC.
Finally, while the POC might be easy to see when your looking at the day's profile, but when your looking at a multi-day chart, its much easier to spot and try to figure out instead of eye-balling it. Check it out, you'll notice that it does happen. For example, today the YM stopped right at yesterdays value area near the highs, those are great targets.

 
  #30 (permalink)
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Guess will be in version 2.0 then :-)


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