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Sort of Market Profile indicator

  #1 (permalink)
 gomi 
Paris
Market Wizard
 
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Posts: 1,270 since Oct 2009
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Here's a sort of Market profile indicator that is based on GomRecorder that can be used to plot volume profiles.

It replaces the ABCD of market profile with a rotating color based on color hues. At the beginning of the RTH the color is at Start Hue, and it ends after RTH length at End Hue.


This "Fancy Color" can be disabled ; the AH volume is shown in black.

Most settings should be auto documented, but there are some hotkeys so I think you will have a global view of what can be done if you play with Space Bar( toggle AH on/off), / (toggle daily/single bar), * (toggle all data/only last Bar or Day), and + and - to change bars length.

The granularity of the color settings is set to 15 min, meaning the color changes every 15 min, but you can set it to 1 if you want more colors or to 60 if you would like 1 color every hour.

It should work OK with 6.5 and 7, but you need GomPackage installed.

Edit : I forgot to mention that as you go back and forth in time, the profiles are updated so that they always only contain the volume that is older than the last bar plotted. That way you can see how the volume distribution evolved during the day by going bar by bar.

Edit : new version1.1 on post 6

Edit : new version 1.2 on post 26

Edit : new version 1.3 with POC on post 40

Edit : version 2.1 avail on elite section

Edit : new version with VWAP and multidays/multibars on post 47

Edit : new version 1.5 with smoothed volume on post 58

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Attached Files
Elite Membership required to download: GomMP1.0.zip
Elite Membership required to download: GomMP1.1.zip
Elite Membership required to download: GomMP1.2.zip
Elite Membership required to download: GomMP1.3.zip
Elite Membership required to download: GomMP1.4.zip
Elite Membership required to download: GomMP1.5.zip
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  #3 (permalink)
 Prtester 
SE-Asia
 
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gomi View Post
Here's a sort of Market profile indicator that is based on GomRecorder that can be used to plot volume profiles.

It replaces the ABCD of market profile with a rotating color based on color hues. At the beginning of the RTH the color is at Start Hue, and it ends after RTH length at End Hue.


This "Fancy Color" can be disabled ; the AH volume is shown in black.

Most settings should be auto documented, but there are some hotkeys so I think you will have a global view of what can be done if you play with Space Bar( toggle AH on/off), / (toggle daily/single bar), * (toggle all data/only last Bar or Day), and + and - to change bars length.

The granularity of the color settings is set to 15 min, meaning the color changes every 15 min, but you can set it to 1 if you want more colors or to 60 if you would like 1 color every hour.

It should work OK with 6.5 and 7, but you need GomPackage installed.

Edit : I forgot to mention that as you go back and forth in time, the profiles are updated so that they always only contain the volume that is older than the last bar plotted. That way you can see how the volume distribution evolved during the day by going bar by bar.

C'mon this year is the stop code year!, , terrific as always

  #4 (permalink)
 zikonc 
san ramon
 
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hi gomi.......I am sure I will not be the only one thanking you for this excellent contribution........perhaps in my last post I forgot to explain my reasoning when I requested more control over what bars to include within the market profile.......in short, i find that it is not possible to consistently use a fixed time period to describe market structure......for example, on april/12 (attached image, distribution 1) market profile worked out great, 100% textbook example ......however, market profile derived for april/13 helped with april/14 run (attached image, distribution 2A) but as you can see we also had a distribution 2B which would be at play the same day....I have no idea what is april/14 distribution doing right now so I'll leave it alone.........the way I go about MP right now is I try to mark my charts with S/R lines (blue dash lines) and then draw distributions as I see them develop.....I also have finalg's TPO indicator and I split/merge profiles but I find that indicator less intuitive than volume histogram on the bar chart......I'll try to learn how to work with the settings within your MP indicator but if you or someone else finds an edge by using the MP over the range of bars and is willing to add this as an option to your indicator I'll greatly appreciate it.......

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  #5 (permalink)
 gomi 
Paris
Market Wizard
 
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Prtester View Post
C'mon this year is the stop code year!, , terrific as always

Thanks ! And I managed to resist till April, which is not that bad... Will try to do better next year ;-)

Started this thread
  #6 (permalink)
 gomi 
Paris
Market Wizard
 
Experience: None
Platform: NinjaTrader
Posts: 1,270 since Oct 2009
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Here's version 1.1.
I added a delta mode, and the ability to plot the volume profile on the right.
You can toggle color mode (no color, delta, time color) using . key.

So basically you can see almost all graphical settings using / * - + . and space bar.
Included are some possible charts.

Attached Thumbnails
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Name:	daily_true#show all_true#AH True#Time Color.png
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Name:	daily_true#show all_true#AH True#No Color.png
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Name:	daily_false#show all_true#AH True#Delta Mode.png
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Attached Files
Elite Membership required to download: GomMP1.1.zip
Started this thread
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  #7 (permalink)
 
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 DavidHP 
Isla Mujeres, MX
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VERY KEWL.

Thanks

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  #8 (permalink)
 Michael.H 
CA
 
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absolutely amazing..... your very fast. I haven't seen charting companies with a full staff be able to respond so fast. one last question, would it be possible to show the VAL high/low and POC on the histogram, since these are great inflection points in the market. Also, if you can choose the the color of the lines? If its possible, i'm dumping my old charting package. Your absolutely amazing with this stuff. I posted the link in another thread, you directed me here... here's the pic showing the value area high and low in dark grey, and POC in orange.

  #9 (permalink)
 zt379 
UK London
 
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gomi many thx.

Few questions please.
1. Using the GomMP on per bar with settings
Daily Mode set to "False"
Show All Bars "True
Neutral Color set to Black,
Color BAr Mode "Delta"
I get Black for total volume per bar and red but no green.

2. Loading the GomMP indicator twice on one chart,
one for Daily Bar Mode "False"(for per bar MP's)
and one "True" (for Daily MP's) doesn't give me the two different Profiles.

When changing the settings for one instance of the indicator
it changes the settings for the other when two are loaded on same chart,
and for any GomMP that are loaded on any other charts.

Hope that makes sense.
Many thx.

  #10 (permalink)
 gomi 
Paris
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Posts: 1,270 since Oct 2009
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1. Does your GomCD show a correct delta per bar ? Like some green and red bars, and not only red ones ?

2. Now I know I shouldn't have set that class static.... Thanks for pointing out the bug.

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Last Updated on March 9, 2012


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