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.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
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
People like choices. Just like we don't all drive the same car.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following user says Thank You to Big Mike for this post: