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Auction Market Theory and Market Profile

  • #2,541
  • Edited 3:27pm May 10, 2011 3:26pm | Edited 3:27pm
hi, eu in an interesting spot IMO...driving me nuts as i've been giving back all the gains i made this week so far to end up after 2 days being flat...

IMO its hard to make a call for direction. The daily looks like it wants to go up wiht value progressing higher thru all 3 sessions today and with 'p' shaped profiles the last 2 days. I think it'll make a run at the WIBH @4480 (EDIT: 4440 is WIBH), but can not say if we go further at the moment.

The weekly shows EU stuck between 2 LVNs. If the top one breaks EU should head first to 4530 but ultimately 4630 which is the weekly DIBH + last weeks VAL. If the weekly DIBL breaks successfully then we could see another big drop.

I'm currently long biased, but treading lightly...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU TPO D 2011-05-10 at 4.15.51 PM.png Size: 157 KB
Click to Enlarge Name: EU TPO W 2011-05-10 at 4.18.36 PM.png Size: 166 KB
Change is the only constant
  • #2,542
  • May 10, 2011 3:28pm May 10, 2011 3:28pm
Quoting bila
Hello mzvega, how are you today? I really miss your writing and your analysis. Could you give some big picture on EU analysis if you're not busy . Thanks in advance.
just noticed you posted this while i was writing my post, hope you don't mind my analysis as well
Change is the only constant
  • #2,543
  • Edited 3:53pm May 10, 2011 3:51pm | Edited 3:53pm
Quoting tgwhbb
just noticed you posted this while i was writing my post, hope you don't mind my analysis as well
No, I don't mind at all, you are one of my favorite writer in this thread T. I always read your analysis and thanks for sharing. Sorry for my english
  • #2,544
  • May 10, 2011 4:00pm May 10, 2011 4:00pm
Quoting bila
No, I don't mind at all, you are one of my favorite writer in this thread T. I always read your analysis and thanks for sharing. Sorry for my english
thx! frustrating day personally...had a good short @4390 during NY IB formation, and with the drop below NY IBL and then backtest, had target set to NY DIBL @4305 and SL set to just above IBL, went on with my day job (drag...)to come back and see my trade stopped out...still good pips though so i was happy, then with what looked like a 2-bar reversal at VAH i went back in short midway between VAH and POC...but that one didn't work out and gave back everything!
Change is the only constant
  • #2,545
  • May 10, 2011 4:39pm May 10, 2011 4:39pm
Quoting bila
Hello mzvega, how are you today? I really miss your writing and your analysis. Could you give some big picture on EU analysis if you're not busy . Thanks in advance.
From a longer term perspective, last week we completed this month’s IB. We probe below that yest. we are building value imo acceptance of prices at that level because we have found two sided trading again. A possible extension of the mibl might test previous months val (also@wdibl), if prices break that level it would confirm the end of one time framing for the monthly profiles. We have settled the weekly IB and the distribution looks pretty balanced. Depending on if you see the glass half empty, or full. I always see bears, even when they’re not there. I think we’ll probably have pretty much two sided trading while the market digests all this recent activity. Until there’s a new piece of info to upset the balance.
Sorry for the absence, I’m suffering from “analysis paralysis”. with updating my spreadsheets. I’m trying to get it set up to where all I have to do is enter end of day (&sessions) info and have it auto-do my dir bias, reference levels. Also I’m tracking open to high, open to low, etc, day type vol., etc.(building database) I like to print daily worksheets that give me all my info. It’s very tedious. But I trade so much better when I am prepared.
But when it comes to analysis Tgwhbb is definatly the "Go To" guy!
Attached Image (click to enlarge)
Click to Enlarge Name: m&w.jpg Size: 342 KB
Markets are not efficient, rather they are effective - Jones
  • #2,546
  • May 10, 2011 5:39pm May 10, 2011 5:39pm
Quoting mzvega
But when it comes to analysis Tgwhbb is definatly the "Go To" guy!
please, there are many good analysis here...sometimes i wonder about my own...i think that is still my problem...no faith just need to turn analysis into execution...

good point about the monthly IB being set now, hadn't thought of that. also good point about the weekly profile being "well distributed" which means it will take the action of longer timeframe participants to move beyond the weekly IB...

by the way, i'm curious to learn more about how you use the data you are collecting. I've written a small script that extracts all the session IB info as well as daily OHLC info (defaults to 100 days history) all with volume that cna then be imported into an excel spreadsheet. I'll post it soon.
Change is the only constant
  • #2,547
  • May 10, 2011 6:36pm May 10, 2011 6:36pm
Quoting tgwhbb
please, there are many good analysis here...sometimes i wonder about my own...i think that is still my problem...no faith just need to turn analysis into execution...

good point about the monthly IB being set now, hadn't thought of that. also good point about the weekly profile being "well distributed" which means it will take the action of longer timeframe participants to move beyond the weekly IB...

by the way, i'm curious to learn more about how you use the data you are collecting. I've written a small script that extracts all the session...
From a few of the videos I posted there were a few techniques for tracking com. activity without the use of LDB, which I thinks now longer exits. Also, the measured moves and counting extentions if price is 2x IB for example comericals long 2, tomarrow -1ex , now com @ long 1. Im trying to track in away how much there there still holding (old business new business), kind of hard to explain. Theres many uses for the info just just trying to figure out what I what to track. But Im using MP103 & MP102 videos as reference.
Markets are not efficient, rather they are effective - Jones
  • #2,548
  • May 10, 2011 8:14pm May 10, 2011 8:14pm
Hello all,

Q2 outlook of currencies by Robin Mesch here

http://www.cmegroup.com/education/fe...y-edition.html
  • #2,549
  • May 10, 2011 8:32pm May 10, 2011 8:32pm
Well i really want to be able to use the mp profile indicator that Bandung have created but it doesnt work on my chart. Any tip how to install it and make it works on my chart?

Thanks a lot in advance

Shreem
  • #2,550
  • May 10, 2011 8:51pm May 10, 2011 8:51pm
Quoting mzvega
Hope this will help.
tks for your help mz

Yes Shreem, just set your chart properties "in" mt4 to "Chart on background" then just set the wick color & size u want...
  • #2,551
  • Edited 9:17pm May 10, 2011 9:00pm | Edited 9:17pm
Quoting bila
Evak, i try to convert day start hour to LO too but why the MP show small letter on Asia session , would you help me please

Good question...i was about to spill the beans anyway...i think is a display bug in the indi..in terms of session ordering..forgive me if i am wrong

let say if your daystarthour is set to 0; then u have those session hours which is default to 0, 7, 12. which is for Asian, London & NewYork..hours..

then the display of the color & test should be in order...but...

IF u set your DayStartHour to let say 7...then u will see only 2 color groups being displayed with one color group sort of blank (BLACK) out. At least that is what i encounter..


So here is the tweak...if u set your DayStartHour 7 let say..set the session hours from Asia to 7, London to 12 & Asia to 0...orderly if u know what i mean..

If if like to have a NY profile with DayStartHour on 12(depending on your broker of coz) then u have to set Asia to 12, London to 0, & NY to 7.

Just set the session color of your choice...



PS : the above only applies & affect Daily profiles...for Weekly & above..there is not need to bother with DayStartHours since i believe they are set to default to 0...
  • #2,552
  • May 10, 2011 9:12pm May 10, 2011 9:12pm
Quoting shreem
Well i really want to be able to use the mp profile indicator that Bandung have created but it doesnt work on my chart. Any tip how to install it and make it works on my chart?

Thanks a lot in advance

Shreem
just make sure u have all the files in the right places..

u can grab the latest here...tks to Bandung
http://eyesfx.web44.net/dload/?did=1

attache for your convenience...
Attached File(s)
File Type: zip ay-tpochart(April23-01).zip   16 KB | 1,884 downloads
  • #2,553
  • May 10, 2011 9:26pm May 10, 2011 9:26pm
Quoting Evak
just make sure u have all the files in the right places..

u can grab the latest here...tks to Bandung
http://eyesfx.web44.net/dload/?did=1

attache for your convenience...
Attachment

Hello Evak and thx. That my problem. not sure where each file need to go where lol. Any guidance would be appreciated
  • #2,554
  • May 10, 2011 11:04pm May 10, 2011 11:04pm
Quoting shreem
Hello Evak and thx. That my problem. not sure where each file need to go where lol. Any guidance would be appreciated
this is what is wriiten on his web site.

File location:
1. ay-mplib.const.mqh ==> YOURMT4FOLDER\Experts\Include
2. ay-object.func.mqh ==> YOURMT4FOLDER\Experts\Include
3. ay-mplib100.mq4 ==> YOURMT4FOLDER\Experts\Libraries
4. ay-TPOChart.v1.02 ==> YOURMT4FOLDER\Experts\Indicators
5. 7bit-onetick.mq4 ==> YOURMT4FOLDER\Experts\Script
  • #2,555
  • May 10, 2011 11:20pm May 10, 2011 11:20pm
Quoting shreem
Hello Evak and thx. That my problem. not sure where each file need to go where lol. Any guidance would be appreciated
There is a readme.txt inside the zip...no?
  • #2,556
  • May 10, 2011 11:34pm May 10, 2011 11:34pm
I have updated the IB indicator to display more weekly IB information (current, avg, diff), and also fixed a bug in the calculation of the 3 daily IB averages.

Also attached is a script that pulls out the following data:

Daily OHLC + volume
Session IB open, IBH, IBL, IB close + volume for Tokyo, London, NY

For the script, you specify a start date and the session start times. It is best to run it after the completion of a full day on your broker feed. The script does not report the above for the current day as it could be misleading. A file IB.csv is created in your MT4/experts/files directory which can then be referenced in excel. my broker feed is based on GMT 0 and I have not tested the script with anything else.

Claudia, maybe this will help you upkeep your spreadsheets!
Attached File(s)
File Type: mq4 Initial Balances.mq4   16 KB | 899 downloads
File Type: mq4 IB_data.mq4   4 KB | 914 downloads
Change is the only constant
  • #2,557
  • May 11, 2011 12:04am May 11, 2011 12:04am
Good morning tgwhbb,

I am studying this thread after Hiddengap and pres78 have been pointing to it. I appreciate your charts and ideas very much.

Regarding the indicator : is it correct to place the first indicator in experts/indicators, and the IB Data in experts/scripts ?

And when you say " after running MT4 for a full day " you mean leaving the platform open ( or on a Virtual Server ) for a full day ?

Thank you, you and bandung are doing an awesome job.

____________
michael
Be like water.
  • #2,558
  • May 11, 2011 1:37am May 11, 2011 1:37am
Quoting mzvega
From a longer term perspective, last week we completed this month’s IB. We probe below that yest....
Thank you mzvega for analysis. I hope you 'll get your trading to the "track" again soon .Oh..would you someday share your daily worksheet looklike ? Thanks in advance . Sorry for my limited english.
  • #2,559
  • May 11, 2011 1:56am May 11, 2011 1:56am
Quoting Evak
Yeah..just for the charts here...(oh btw GU have sprung..

POC hunting guys EU weekly profiles..4220 ppl?
Attachment
Hi EVAK

the candle chart you are using is this High/Low/Close bar chart?
also on your last post i see you posted a Marketprofile indicator would u mind sharing that indicator ?


thanks
  • #2,560
  • May 11, 2011 1:58am May 11, 2011 1:58am
Quoting Evak
Good question...i was about to spill the beans anyway...i think is a display bug in the indi..in terms of session ordering..forgive me if i am wrong

let say if your daystarthour is set to 0; then u have those session hours which is default to 0, 7, 12. which is for Asian, London & NewYork..hours..

then the display of the color & test should be in order...but...

IF u set your DayStartHour to let say 7...then u will see only 2 color groups being displayed with one color group sort of blank (BLACK) out. At least that is what i encounter..


So...
Thank you Evak for the solution. Now I just search the broker. Thanks again
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