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Auction Market Theory and Market Profile

  • #301
  • Feb 11, 2011 11:25am Feb 11, 2011 11:25am
EU still holding the DIBL. One would now expect a bounce up to around the IBL and watch reaction there. If that doesn't hold, a normal expectation would be a continuation below the DIBL because the NY IB is narrow. BUT, today is friday, and london is closed. I'm just watching now.
Change is the only constant
  • #302
  • Feb 11, 2011 11:53am Feb 11, 2011 11:53am
tgw,

I have just put your indi onto my charts ..WOW

hifx
  • #303
  • Feb 11, 2011 12:00pm Feb 11, 2011 12:00pm
Quoting HIFX
tgw,

I have just put your indi onto my charts ..WOW

yes its is scary how accurate those levels really are.
Change is the only constant
  • #304
  • Feb 11, 2011 12:37pm Feb 11, 2011 12:37pm
here are two indicators that i wanted to share:

- v3, where you can customize the beginning and the end dates; you can use it for weekly profile, or monthly/trimestrial/yearly profiles but you will need to manually specify a start and an end date.
- v5, where you can set a look-back period; it will constantly adjust itself, this is a dynamic approach and i am using it for daily (and lower tf) profiles.


Quoting @mel

Hi Frankkn,

Thanks for your reply, As I see it the market profile is very accurate, really especially today on the eur .... I am speechless! lol

I was wondering if you use market profile on a weekly or monthly basis?

I don't even know if it is available.... Anyway, if someone have it, I will appreciate if you can share it.

Regards,
Mel
Attached File(s)
File Type: mq4 Market_Statistics_v3.mq4   9 KB | 1,103 downloads
File Type: mq4 Market_Statistics_v5_0.mq4   10 KB | 1,379 downloads
Nihil Sine Deo.
  • #305
  • Edited 12:55pm Feb 11, 2011 12:40pm | Edited 12:55pm
nice work, thanks!

i was wondering if there is a way to put more lines on the market profile ... what i am really interested in is to see horizontal lines for the three LEAST active zones on the histogram. i would have done it myself but i have no skills at all with this.

Quoting tgwhbb
Attached is the little indicator i wrote to show initial balance lines for each session. A few notes:

 

  1. buffers (lines) are updated AFTER the initial balance of the asian, london and ny sessions. For example the lines change at 9AM for the NY session - 1 hour after the open.
  2. you can specify the session open times in the input parameters as well as some other things.


it seems to work fine for me, but if you have any issues or comments let me know via PM. I still plan on adding more to it, just need to find the time.

Nihil Sine Deo.
  • #306
  • Feb 11, 2011 12:49pm Feb 11, 2011 12:49pm
and here is an example why -

you are looking at the weekly profile. price is below pvp, and i marked the least active zone on the histogram (two days ago...). guess what, today we had a break through it, and just two hours ago price got back and tested it to the pip.

i think we should also pay attention to the zones of minimal tick activity.

Quoting Scrat

i was wondering if there is a way to put more lines on it ... what i am really interested in is to see horizontal lines for the three LEAST active zones on the histogram. i would have done it myself but i have no skills at all with this.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #307
  • Feb 11, 2011 12:55pm Feb 11, 2011 12:55pm
Scat i see you like EW, any thoughts on this
Attached Image (click to enlarge)
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hifx
  • #308
  • Feb 11, 2011 12:56pm Feb 11, 2011 12:56pm
Quoting declaime
Hi mima,

DIBH = double initial balance high
IBH = initial balance high
IBL = initial balance low
DIBL = double initial balance low

Thanks tgwhbb for the indicator, tested the initial balance concept today on EU, and it looks promising.

Gruß,

Wolfgang
hi declaime...
if you dont mind can you suggest me ... any book or article that had the initial balance concept.. for me to read and learn..?

thanks...
...
  • #309
  • Feb 11, 2011 1:05pm Feb 11, 2011 1:05pm
Bull trap or Bear trap ?
Attached Image (click to enlarge)
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hifx
  • #310
  • Feb 11, 2011 1:09pm Feb 11, 2011 1:09pm
High wave candle on the 4 hr...Change of ownership ?
hifx
  • #311
  • Edited 1:33pm Feb 11, 2011 1:22pm | Edited 1:33pm
Quoting bandung
hi declaime...
if you dont mind can you suggest me ... any book or article that had the initial balance concept.. for me to read and learn..?

thanks...

Hi bandung,

first of all, there are a lot of resource suggestions in this thread provided by others. I personally can recommend the resources from this website (http://www.cmegroup.com/education/in...marketprofile/), especially the handbook in pdf-format. Moreover, the books 'Mind over Market' by James Dalton and 'Steidlmayer on Markets' by J. Peter Steidlmayer are useful.

Non of these resources solely discuss the ''initial balance concept'', but it is mentioned in all of them, and they provide a broad overview of market profile. Well, I got to study this decision-support technique a lot more this weekend .

Gruß,

Wolfgang
  • #312
  • Feb 11, 2011 1:26pm Feb 11, 2011 1:26pm
Quoting Scrat
nice work, thanks!

i was wondering if there is a way to put more lines on the market profile ... what i am really interested in is to see horizontal lines for the three LEAST active zones on the histogram. i would have done it myself but i have no skills at all with this.
i plan to, but hadn't thought of markers for LVN's, that's a good idea. I've noticed the market profile indi i use is time based and not volume based, which throws things off due to asia being in a general area of price for more time but with less volume.

The market statistics indi you posted are volume based so should be more accurate, however I have not figured out how to configure it so that it shows profiles and POCs for each day...
Change is the only constant
  • #313
  • Feb 11, 2011 2:31pm Feb 11, 2011 2:31pm
Quoting tgwhbb
damn it. my levels are right...entries not so bad...can never seem to get out in time since i'm always looking at the next level. stopped out of my long for +1
I was lucky and caught the down move after this. From a VSA standpoint, I like that it all starts with Ultra High Volume.

From an Auction Market Theory point of view, there were clear signs of Responsive Selling at the Unfair highs.
Attached Image (click to enlarge)
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #314
  • Feb 11, 2011 2:42pm Feb 11, 2011 2:42pm
Quoting HiddenGap
I was lucky and caught the down move after this. From a VSA standpoint, I like that it all starts with Ultra High Volume.

From an Auction Market Theory point of view, there were clear signs of Responsive Selling at the Unfair highs.
yep, exactly what i saw, but didn't react to it. Damn emotions need to trade like a robot - emotionless.

Now EU is back testing that trigger. if there's a ND now would you trade that given time of day/week?
Change is the only constant
  • #315
  • Feb 11, 2011 2:58pm Feb 11, 2011 2:58pm
Quoting tgwhbb
yep, exactly what i saw, but didn't react to it. Damn emotions need to trade like a robot - emotionless.

Now EU is back testing that trigger. if there's a ND now would you trade that given time of day/week?
No. After about 1300 hrs New York time futures volume dries up.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #316
  • Feb 11, 2011 3:41pm Feb 11, 2011 3:41pm
I'm jealous of those who have the time to trade the active hours every day. Even after I get out of school I'm still probably not going to have much time to trade for the first couple years.

After that it's a different story.

Scrat, I like your style.

Thank you fellas for the indicators and resources, I appreciate them very much.

Nice charts everyone.

This was my first week trading with VAH/VAL and I have to say I'm blown away. The previous day's (futures) VAL/VAH are unstoppable when combined with VSA.

There is so much more to AMT/MP, but the simplicity and effectiveness of VSAMP is unquestionable.

The only consolation I have for the lack of time I have to put towards this is knowing that once I have my practice up and running for a few years I'll be a able to trade several NY opens per week.

What kinds of schedules do you guys have in your lives? How do you balance family/work/school/trading/hobbies?
  • #317
  • Feb 11, 2011 4:04pm Feb 11, 2011 4:04pm
Quoting frankkn
I'm jealous of those who have the time to trade the active hours every day. Even after I get out of school I'm still probably not going to have much time to trade for the first couple years.

...

What kinds of schedules do you guys have in your lives? How do you balance family/work/school/trading/hobbies?
Hey Frank,

I am studying Economics & Foreign Affairs and writing my final thesis right now. Fortunately living in the middle of Europe puts me in a expedient time zone when it comes to trading FX - and besides, the student fees are much lower . Have a nice weekend.

Gruß,

Wolfgang
  • #318
  • Feb 11, 2011 6:22pm Feb 11, 2011 6:22pm
Quoting declaime
Hey Frank,

I am studying Economics & Foreign Affairs and writing my final thesis right now. Fortunately living in the middle of Europe puts me in a expedient time zone when it comes to trading FX - and besides, the student fees are much lower . Have a nice weekend.

Gruß,

Wolfgang
Thanks for sharing dude.

Wish I could have traded today, this is gorgeous. Buying climax into VAH followed by a ultra high volume upthrust and a nice no demand.
Attached Image (click to enlarge)
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  • #319
  • Feb 11, 2011 9:43pm Feb 11, 2011 9:43pm
Frank,

For me it is easy to be stuck in front of a screen when ever i choose at the moment.I am a free lance Communications Engineer,that has been blighted by irresponsible actions of our world bankers and the FSA (Britains financial regulatory body - toothless) So do not feel in any way part time.
I am so glad that i found this thread and it participants,it is to say the very least enlightening

hifx
  • #320
  • Feb 11, 2011 9:48pm Feb 11, 2011 9:48pm
last one before the weekend. EU daily. posted same on the VSA thread, but here are my market structure related comments.

notice how EU is now back at the LVN (low volume node). this is an area of low activity. Everytime price has been there since july 2010 it either peirced thru it quickly or bounced quickly. this time we have a double bounce. Could that mean a more permanent departure away from this area? Time will tell, but from VSA side of things, this chart looks quite bullish IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: EU D1 2011-02-11 at 10.37.01 PM.png Size: 84 KB
Change is the only constant
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