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After Hours Data In Figuring VP or MP Levels


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After Hours Data In Figuring VP or MP Levels

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  #1 (permalink)
Chicago
 
 
Posts: 143 since Jan 2015
Thanks: 2 given, 65 received

Hello,

I am not currently using Inv RT, but have been following VP and MP ideas and watching FT71's videos.

I wanted to get a consensus if anyone was all owing their charting package, to also use after hours data in figuring VAH, VAL, POC etc.

If so why, if not...why? Please chime in with what charting package you are on as well, thank you.

Also, is MP / VP equally useful on NQ, ES, YM, RTY as it is on stocks or indexes etc.

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  #2 (permalink)
Phoenix, AZ
 
 
Posts: 67 since Feb 2016
Thanks: 3 given, 36 received

I use NT8 and a 3rd party Vol Profile. Mostly the range profile and rarely the composite.

I dont find that using the poc or value area from a time span helps me.
Pocs that form in the hvns of an initiation move yes. But the poc of a time period like pit hours or globex session no.
The CME guide states that the auction units are now time independent due to global integration and participation. They are formed by the largest participants initiating and adding to their positions as they collide with traders going the opposite way in smaller timeframes.

I know that it is possible to draw a range profile and have the VA perfectly call the consolidation highs and lows.
However its really hard to do consistently real time if not impossible.
So only good in retrospect in my conclusion not a real time trading tool.

I do use overnight data but i am looking for specific types of price action to tell a story, not calculating or even looking at Value because ultimately im trying to guess where a large participant will act again so I can front run them. Exactly what we're all trying to do. I have not seen where calculating value over an exchange imposed time span accurately predicts turning points consistently.

Yes IMO vp is universally applicable because the same node profiles show the footprints of the larger participant. Its only when you get into crypto currency where you only see the voluume from one exchange that ive seen vol profile be misleading.

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  #3 (permalink)
San Francisco USA
 
 
Posts: 11 since May 2018
Thanks: 4 given, 18 received


Hi Edward40,
FWIW: I use IRT. I use MP, VP, orderflow and general price analysis to define key reference points in a market. My trading is based on Auction Market Theory and though I give hierarchy to the RTH levels and context I also track and watch the 24hr charts/levels. In todayís global markets instruments that trade 24hrs do so for a reason. Primarily to facilitate trade.

As an auction market theory trader Iím always looking at what value is doing, if value is moving higher then Iím primarily looking for long opportunities till prices get stretched too far at which time I may look for a reversion back to the mean. At the same time if value is overlapping then I look to employ range bound strategies till things change.

Hence much can be learnt from looking at a 24hr chart, that being said I give a higher hierarchy to RTH levels. Iíll also add that when looking at weekly, monthly, and yearly charts I only look at ETH.
I find AMT useful in all liquid markets.
Hope that helps.

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April 1, 2019


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