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Auction Market Theory and Market Profile

  • #2,561
  • May 11, 2011 2:12am May 11, 2011 2:12am
Hi Guys
I dont know who is coding all this MP stuff but its great I have a request to modify the MP indicator if anyone can help me?

what i was thinking is..

instead of showing all the letters n all is it possible to show .. MP of each say m15 bar with following?


M15 - bar - High / low / close and POC and IB (Optional)

is it possible?
  • #2,562
  • May 11, 2011 2:48am May 11, 2011 2:48am
Quoting hoichoi
Hi Guys
I dont know who is coding all this MP stuff but its great I have a request to modify the MP indicator if anyone can help me?

what i was thinking is..

instead of showing all the letters n all is it possible to show .. MP of each say m15 bar with following?


M15 - bar - High / low / close and POC and IB (Optional)

is it possible?
Bandung is the man behind all the mp indi that u saw here.

But to scalp with 15 min, you might miss the entire forest.
  • #2,563
  • May 11, 2011 2:52am May 11, 2011 2:52am
Quoting hoichoi
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
All the MP indicator are all posted by your Highness Bangdung the MP coder extraordinaire with gang like tgwhbb doing IB indicator & our beta tester/approving officer mzveg ( they are our in-house analyst too ........as for me Bandung have appointed me as his JD translator..LOL

U can find all the indi in the attachment folder of this thread...

ref: http://www.forexfactory.com/showpost.php?p=4437036

As for the HLC bars;
http://www.forexfactory.com/showthread.php?t=176818
  • #2,564
  • May 11, 2011 3:01am May 11, 2011 3:01am
Quoting hoichoi
Hi Guys
I dont know who is coding all this MP stuff but its great I have a request to modify the MP indicator if anyone can help me?

what i was thinking is..

instead of showing all the letters n all is it possible to show .. MP of each say m15 bar with following?


M15 - bar - High / low / close and POC and IB (Optional)

is it possible?

Don't see the point really unless u have bid-ask data to weed out the so call delta historgram (ala footprint charting)...i simply doubt that auction process of such short time period can provided valuable info to be actionable..in the end u end up using minimum session profile instead..

Bandung use to post a mini-MP indicator that plot histogram on e.g. 15mins bars or 5...i have not try them..but u can search it here..i think is experimenter so expect some bugs..

Alexm is right u end up not seeing..forex for the trees...oops i mean forest.
  • #2,565
  • May 11, 2011 3:05am May 11, 2011 3:05am
Recently I've been doing a study on stop hunting on price action, from JD idea of break to rally >< rally to break.

Anyone here can share a bit more about this topic?

Pg 155 Market in Profile

When a market has repeatedly attempted to auction lower without being able to establish excess, this is usually a sign of inventory imbalance; the market may be too short to go any lower, and so needs a short-covering rally that will allow long- term inventory to come into balance. It’s not unusual to hear professional traders say that a market needs to rally before it can continue to break. They’re simply expressing the view that there are too many weak sellers in the market—sellers who continue to cover on each small break, which has the effect of stopping any further decline until the covering is over.
Shorts are always potential buying power.

-----
  • #2,566
  • May 11, 2011 3:25am May 11, 2011 3:25am
Quoting alexm
Recently I've been doing a study on stop hunting on price action, from JD idea of break to rally >< rally to break....
It remind me of EU right now...

EU did not show any significant buying tail...in my Wyckoff analysis there are susbstantial evidence that accumulation is in order but as price is edging up there are some dips that are immediately retracted back up as pointed out by my arrows..this are like VSA "basic test" where sellers covering their shorts...eventually only a strong push up to break the ICE so to speak...the JD description do sound like accumulation really..

edit: so no significant tail profile does not mean a hoot really that that there are no strong buyers..if every short covering is done...there is ample evidence to show otherwise...

EU break of rally coming soon ...

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  • #2,567
  • May 11, 2011 3:56am May 11, 2011 3:56am
Now I interpret the b shape profile (long liquidation break) is like a fish hook, to sink down (hunt for stop), stay for quite some time with a bait on it, once you jump in an sell it. That very moment you are in the air. With a net waiting for you to land on it.

---

Also the idea of why a trader need to anticipate an open test drive (one of the 4 type of opening) like today london open, is to test is it any aggressive sell pending order on the crab way market, price start broke below right at london open from 3rd minute for a good 30 pips, (im watching the 1 min chart, right after the 30 min bar close, the volume drop like 70%) waiting for more seller to join in, but found no one, immediately it explore the other side with one time frame up PA.
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  • #2,568
  • Edited 5:18am May 11, 2011 4:44am | Edited 5:18am
Yes the narrower the better, IB that is..

Previous profile showing nice extended horizontal development which bound to break...market open with open test on a very narrow IB; good for break...

added one more position to my GU long...target to 6500 & 6550..

initial risk to trade was 25 pips...

PS: of coz after a previous balance day with price it would be best to allow a dip after the IB...notice the c & d indicating a pull back low back on to VAL or new IB , providing a better entry strategy..This was also illiustrated in mzvega cheatsheet..(aka moving out of value into imbalance.

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Here is Wyckoff view for those interested...last "basic test" on PS level during European open...
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  • #2,569
  • Edited 9:12am May 11, 2011 7:02am | Edited 9:12am
Quoting msmarple
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
Hi Michael, that is right about the file location

EDIT: you don't have to leave the platform open for a full day. What I meant is when you run the script to extract the data, it will not extract the current day, so if you want to get today's data, make sure you run the script no earlier than tomorrow.
Change is the only constant
  • #2,570
  • Edited 10:32am May 11, 2011 9:20am | Edited 10:32am
anyone else finding EU is really playing games? IMO its really trying to entice sellers... what looks like 3 'p' profiles and not yet able to break out of the weekly IB...weekly profile locked in between two LVNs, with what looks like a small buying tail at the bottom but no selling tail at the top...and large volume at the bottom of dips since yesterday during NY...

kind of reminds me of the inverse of last week...

was short earlier from rejection of yesterday's POC, closed at London 2x IBL extension @4300.

thoughts on direction?
Change is the only constant
  • #2,571
  • May 11, 2011 9:50am May 11, 2011 9:50am
Quoting tgwhbb
anyone else finding EU is really playing games? IMO its really trying to entice sellers... what looks like 3 'p' profiles and not yet able to break out of the weekly IB...weekly profile locked in between two LVNs, with what looks like a small buying tail at the bottom but no selling tail at the top...and large volume at the bottom of dips since yesterday during NY...

kind of reminds me of the inverse of last week...

was short earlier from rejection of yesterday's POC, closed at London DIBL.

thoughts on direction?
Indeed it is playing game, also each drop with high volume was being bought, I think a sneaky accumulation started since last Friday, will anticapate for an up side break of wibh.
  • #2,572
  • May 11, 2011 10:20am May 11, 2011 10:20am
Quoting tgwhbb
anyone else finding EU is really playing games? IMO its really trying to entice sellers... what looks like 3 'p' profiles and not yet able to break out of the weekly IB...weekly profile locked in between two LVNs, with what looks like a small buying tail at the bottom but no selling tail at the top...and large volume at the bottom of dips since yesterday during NY...

kind of reminds me of the inverse of last week...

was short earlier from rejection of yesterday's POC, closed at London DIBL.

thoughts on direction?
Playing games? u can say that again...

Direction up, not reason to say otherwise..small tails & Ps & all dips are being bought & now back down just below my prelim supply area & still being bought..

Looks looks like Alexm mention of "break of rally" all answered...except the break of coz..

Just like to see more test on 4310 b4 i decide to go long...in anycase price is now on wholesale level..
  • #2,573
  • May 11, 2011 10:28am May 11, 2011 10:28am
Quoting Evak
Playing games? u can say that again...

Direction up, not reason to say otherwise..small tails & Ps & all dips are being bought & now back down just below my prelim supply area & still being bought..

Looks looks like Alexm mention of "break of rally" all answered...except the break of coz..

Just like to see more test on 4310 b4 i decide to go long...in anycase price is now on wholesale level..
and on VSA-side, maybe this last hour was the test of yesterday's trigger...http://www.forexfactory.com/showpost...ostcount=19498
Change is the only constant
  • #2,574
  • May 11, 2011 10:49am May 11, 2011 10:49am
I have such a hard time indentifiing old business from new business. I drew a crude picture of what I think short covering is. This is something I need much work on. Maybe it might make sense. Or maybe some one has a better interpretation?
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Markets are not efficient, rather they are effective - Jones
  • #2,575
  • May 11, 2011 11:15am May 11, 2011 11:15am
Quoting tgwhbb
and on VSA-side, maybe this last hour was the test of yesterday's trigger...http://www.forexfactory.com/showpost...ostcount=19498
Greek problem again...never ends...maybe time to look for downside & i just notice the price bar that drive pass 4210...was a drive-down bar....
  • #2,576
  • May 11, 2011 11:42am May 11, 2011 11:42am
Quoting Evak
haha sorry, get some rest kiddo...

Anyway..just to rephrase this hypothetical analysis on structures & anomalies..

Revise chart showing the the lack of symmetry (anomalies) OR lack of development of the lower distribution of of profile "C" which is suppose to "fill in" the LUA of profile A & B.

Therefore..with yesterday 400 pips sell offs & in-view of any downwards continuation (taking into account of the need to balance at current level prior to further initiatives selling ). ANY further correction would have suggest that reparation of the...
Looks like what i mentioned previously about structural anomalies & the required repairs on that prior week profile, could be actually playing out...


EDIT:
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  • #2,577
  • May 11, 2011 11:56am May 11, 2011 11:56am
Quoting Evak
Looks like what i mentioned previously about structural anomalies & the required repairs on that prior week profile, could be actually playing out...


EDIT:
Attachment
Very interesting...... This is something I need to get better versed in. Again, thank you for for bringing something new to my attention
Markets are not efficient, rather they are effective - Jones
  • #2,578
  • May 11, 2011 1:13pm May 11, 2011 1:13pm
well, i see i missed another trend day....omg frustrating...at least i wasn't on the wrong side!

the worst part is when i had my short on, i told myself i should hold this longer since eu failed at the weekly IBH, target should have been IBL...now its looking like weekly DIBL...
Change is the only constant
  • #2,579
  • May 11, 2011 4:25pm May 11, 2011 4:25pm
well, let's hope i can still get some pips out of EU this week...doesn't look like the down move is over yet...next downside target from the monthly profile is March's VAH @4100...
Change is the only constant
  • #2,580
  • May 11, 2011 10:05pm May 11, 2011 10:05pm
Quoting tgwhbb
well, let's hope i can still get some pips out of EU this week...doesn't look like the down move is over yet...next downside target from the monthly profile is March's VAH @4100...
Agree....
i have my sights sets on 4250 to 4150...

Chart set to LO:
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