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This product is also a very good and economical alternative to InvestorRT if you happen follow FuturesTrader71, or L2ST volume profile teachings.
Unlike most of the other commercial volume profile indicators, it's simply based on a 1 time fee for a lifetime license.
Some of it's key features include:
- Ability to create composite volume profiles based on any custom date range
- Create multiple micro-composite profiles
- Plot intraday levels: Initial Balance, Opening Swing, Value Area, VWAP, Overnight session VPOC
- Calculate cumulative delta
- Filter block trades
- Highly customizable profiles via toolbar.
Another outstanding plus factor is the product support that Mike (the developer) provides. I'm basically able to resolve any issues I have with him over Skype. He also listens to any customer suggestions for future feature upgrades and the product is updated very often with new features or performance improvements.
I am very impressed with this product and I hope this review will help those who are still looking for a volume profile indicator, or even those who are thinking about an alternative to their current (pay - per - month) product.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
One of the most impressive useful and innovative parts of CDA VolPro tool is the ability to create volume profiles based off cache files it can create from tick or minute data and/or a combo of the two. Making these cache files means the profiles load much faster for long term profiles. Profiles can also be made off of live tick or minute data. Calling this CDA tool an indicator does not quite do it justice.
Today I received an email from Mike the developer saying he is looking into developing it for NT8 and he likes what in sees in NT8 but is not sure yet if he will take on this project or not. This tool for NT7 is 27k lines of code so it's no small task. It will also not be a free upgrade for NT8 if he does decide to take the plunge.
Ron
Sent from my iPhone using Tapatalk
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I just yesterday loaded it up. A beta to be sure but looks good and will be. Mike and I did a Skype call and found a bug which he promptly fixed within about 60 minutes and had a new version back out to us beta testers with the problem solved. I stayed up way to later messing with it and found another bug which is to be expected. The learning curve can be a bit steep with so much packed into one indicator as well as learning to create cache files but in the end after the curve is mounted the speed with which profiles are created makes it worth it. Creating cache files is notably easier now with CDA's NT7 and NT8 versions due to the new roll over feature. Where you are not recreating cache files for the new contract month.
Ron
Sent from my iPhone using Tapatalk
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
I agree 100% with everything said above. What Mike has achieved with this volume profile is incredible, plus his one on one Skype support is the icing on the cake.
He wants nothing but for people to be happy with his product. Any issue, small or big I have contacted Mike and almost always received an instant response which leads to a call over Skype.
IMO, volume profile and price action is the only way to trade. And I mean the only way, and this volume profile is so customizable you can display only what you need or want to see.
Personally, I like the micro composite part, again customizable to whatever you want to see.
I could go on and on and on about all the good things this "indicator" has going for it. @mmaker put me onto it and I cannot thank him enough for that.
JB
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- Trade what you see. Invest in what you believe -
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Can someone please explain what I could do with CriticalData Volume Profile, that I couldn't do in Sierra chart using their built-in profiling tools?
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
