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  • #6,061
  • Mar 22, 2010 10:54pm Mar 22, 2010 10:54pm
Quoting polomine
Hi all,

With regard to marketprofile indicator, does it represent volume or just time of the price action? I think it only takes time into consideration instead of volume. I think it should have involved volume factor.

I don't know whether I have expressed my thoughts clearly, although my English is better than you guys' Chinese.

Thanks!
My Chinese is awesome
One #1 .. special fried rice
One 34 . Sweet and sour pork

lol

I am not sure on your question

Market profile is the amount of volume at each price level for a determined time interval , typically being one 24 hour period. So yes it has some factor of time to it , but is more linked to price levels and the amount of volume at each price level
Blogging daily now at www.volume.zone
  • #6,062
  • Edited 11:11pm Mar 22, 2010 11:10pm | Edited 11:11pm
Malcolmb, thank you very much for your reponse.

Let's suppose a scenario, the market is very quiet in Asia session, the volume is very low, and the range is very narrow, but it lasts 12 hours. So, if marketprofile indi only takes time into consideration, it will draw a very steep and thick horizontal line, and that probably becomes the POC line of that day. But you know the market is not really open in Asia session, and we should not take it too serious. I have doubt on it.
  • #6,063
  • Mar 23, 2010 1:20am Mar 23, 2010 1:20am
eu potential shake out on 30 min , look for any further signs of strength

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Blogging daily now at www.volume.zone
  • #6,064
  • Mar 23, 2010 1:22am Mar 23, 2010 1:22am
Quoting polomine
Malcolmb, thank you very much for your reponse.

Let's suppose a scenario, the market is very quiet in Asia session, the volume is very low, and the range is very narrow, but it lasts 12 hours. So, if marketprofile indi only takes time into consideration, it will draw a very steep and thick horizontal line, and that probably becomes the POC line of that day. But you know the market is not really open in Asia session, and we should not take it too serious. I have doubt on it.

poc is set for last 24 hours ..... in asia this barely changes. Most of the volumes in this upper zone occurred in US session

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  • #6,065
  • Mar 23, 2010 3:20am Mar 23, 2010 3:20am
do you think is this a cycle of smart money ? collect, rise prices, then sell... ?
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  • #6,066
  • Mar 23, 2010 4:13am Mar 23, 2010 4:13am
sure, why not

Quoting bruceli
do you think is this a cycle of smart money ? collect, rise prices, then sell... ?
  • #6,067
  • Edited 4:40am Mar 23, 2010 4:37am | Edited 4:40am
I have studied the souce code of marketprofile.mq4 indicator this afternoon. I have found that it does not use the volume of each bar or each tick, it just count the number of bars which cover a specific price level (from low price to high price) during a specific period (24h). I am not sure whether the indicator Malcolmb uses has the same logic.

Quoting polomine
Malcolmb, thank you very much for your reponse.

Let's suppose a scenario, the market is very quiet in Asia session, the volume is very low, and the range is very narrow, but it lasts 12 hours. So, if marketprofile indi only takes time into consideration, it will draw a very steep and thick horizontal line, and that probably becomes the POC line of that day. But you know the market is not really open in Asia session, and we should not take it too serious. I have doubt on it.
  • #6,068
  • Mar 23, 2010 6:41am Mar 23, 2010 6:41am
metatrader5 10min gbpusd

any thoughts on this high vol bar? buying climax? end of rising market?
any comments welcome.

Gez
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Seek not to change the world; seek only to change your mind about the world
  • #6,069
  • Edited 8:07am Mar 23, 2010 7:38am | Edited 8:07am
I'd rather look at 60 minute tf chart by taking such decision. and also we should also see an upthrust in my opinion.
  • #6,070
  • Mar 23, 2010 8:09am Mar 23, 2010 8:09am
Nice amount of volume has come in on that move up on the Eur. Lets see what the reaction is.
  • #6,071
  • Mar 23, 2010 9:10am Mar 23, 2010 9:10am
A loser trade, went short after the no demand and reversal pattern.
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  • #6,072
  • Mar 23, 2010 9:54am Mar 23, 2010 9:54am
After you quit trading for the day, would appreciate your comments on the gu trade I posted. Would like to learn from this one if possible? Thanks
  • #6,073
  • Mar 23, 2010 9:55am Mar 23, 2010 9:55am
Quoting tarco
A loser trade, went short after the no demand and reversal pattern.
I prefer my ND/NS bars to be a lot narrower. The spread is too wide on that one you labelled.


C
Boxing clever since 76.
  • #6,074
  • Mar 23, 2010 9:59am Mar 23, 2010 9:59am
Quoting tarco
A loser trade, went short after the no demand and reversal pattern.
reason is you need to check higher time frame

here is 1 hour

all buyers from, 5030 to 4080 ... this looks like mark down


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  • #6,075
  • Mar 23, 2010 9:59am Mar 23, 2010 9:59am
yeah was probably trying to find what I was looking for.
  • #6,076
  • Mar 23, 2010 10:07am Mar 23, 2010 10:07am
My futures volume was not as high as your feed, much clearer on your charts. Thanks for comment.
  • #6,077
  • Mar 23, 2010 11:18am Mar 23, 2010 11:18am
this is how I read acc dist.
I wasn't sure last night of the short in gbp so no trade for me
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  • #6,078
  • Mar 23, 2010 12:15pm Mar 23, 2010 12:15pm
Thanks for the analysis, not sure if the smuck comment is warranted though.
  • #6,079
  • Mar 23, 2010 2:29pm Mar 23, 2010 2:29pm
i have seen nearly 25 pips decrease with almost 1800 contracts. however, they pull back up with nearly 800 contracts again at the same level.

what could it mean ?
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  • #6,080
  • Mar 23, 2010 2:46pm Mar 23, 2010 2:46pm
Quoting Intel
Hi xandyakko,

I believe you can access the chat room via the link on the first page in Shamus' long first post. Once clicked it will take you to a connection screen. Just enter a name of your choice or leave it with the pre-filled one, and press connect.

It is fairly quiet these days. Best during asia london overlap I hear.
Well, there are always connected user names besides system clockworx, but nobody writes something during London - US sessions. What is going on? Are there any other arrangments?
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