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Here is a description of a tool/indicator i'd be happy to have.
I have begun to toy with this Market Profile Calculator and found it interesting. As an example, i created this profile today (see picture) i updated every 30min. I begun at 9:30 by selecting the High/low of the last three 30min. bars then i kept adding a new bar at each interval of 30 minutes.
What interests me are the Vah, Poc and Val. It would be interesting to have an indicator that would calculate these 3 values at a specific time interval say every 30 minutes (no matter the interval used on the chart where it is applied).
Two modes could be considered:
1) a mode where a start time is specified (say 09:30) and the three values are computed at every interval (user definable) taking into account the previous bars since it started as shown in the example above. A kind of evolving market profile.
2) a mode where a start time is specified (say 09:30) and the three values are computed at every interval (user definable) but on a rolling basis (period specified by the user, could be the last three 30 min. bars). This way instead of an evolving profile we would get a channel that would follow price action.
Your mission, should you choose to accept it is to build this indicator unless you think it's mission impossible
Can you help answer these questions from other members on NexusFi?