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vsa with Malcolm

  • #20,761
  • Jun 5, 2011 9:42pm Jun 5, 2011 9:42pm
Quoting Fusion
Can someone please share a reliable Market Profile Indi.
Thanks
there are several good ones in this thread: http://www.forexfactory.com/showthread.php?t=277528

the indi's starting with ay are the best ones IMO.
Change is the only constant
  • #20,762
  • Jun 5, 2011 9:56pm Jun 5, 2011 9:56pm
Quoting Fusion
Can someone please share a reliable Market Profile Indi.
Thanks
As tgwhbb noted, it's the one listed here which I use regularly and find it of tremendous trading aid; just make sure you set the DayStartHour to the right (5pm NY time) based on your broker's clock. The thread itself is quite worthy of review too.

http://www.forexfactory.com/showthre...36#post4437036
  • #20,763
  • Jun 6, 2011 3:44am Jun 6, 2011 3:44am
Quoting Beljevina
As tgwhbb noted, it's the one listed here which I use regularly and find it of tremendous trading aid; just make sure you set the DayStartHour to the right (5pm NY time) based on your broker's clock. The thread itself is quite worthy of review too.

http://www.forexfactory.com/showthre...36#post4437036

Where can we find the broker's clock? I'm using IBFX.
  • #20,764
  • Jun 6, 2011 9:05am Jun 6, 2011 9:05am
aj h1 4 hours ago
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  • #20,765
  • Jun 6, 2011 9:34am Jun 6, 2011 9:34am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
i replayed to your private, did you received it?
thank's, sorin.
  • #20,766
  • Jun 6, 2011 12:01pm Jun 6, 2011 12:01pm
Quoting dvarrin
Where can we find the broker's clock? I'm using IBFX.
CTRL-M in MT4. As an aside, the ideal MT4 broker time is where it turns 00:00 as it turns 5pm EST, thus, the daily candles close at 5pm NY time, and the 4H candles are properly built. I use FxPro's MT4 demo for this.
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  • #20,767
  • Jun 6, 2011 1:09pm Jun 6, 2011 1:09pm
Quoting Beljevina
CTRL-M in MT4. As an aside, the ideal MT4 broker time is where it turns 00:00 as it turns 5pm EST, thus, the daily candles close at 5pm NY time, and the 4H candles are properly built. I use FxPro's MT4 demo for this.
Thank you very much Beljevina :-)
  • #20,768
  • Jun 6, 2011 3:32pm Jun 6, 2011 3:32pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Beljevina
CTRL-M in MT4. As an aside, the ideal MT4 broker time is where it turns 00:00 as it turns 5pm EST, thus, the daily candles close at 5pm NY time, and the 4H candles are properly built. I use FxPro's MT4 demo for this.
From what I see compared fxcm feed through ensign with gavin's the the 4h bars are more accurate if you use gmt standard.
  • #20,769
  • Jun 6, 2011 4:07pm Jun 6, 2011 4:07pm
Thanks guys for the indi. If I am at EST time-zone, what should I use as DayStartHour?

Quoting Beljevina
As tgwhbb noted, it's the one listed here which I use regularly and find it of tremendous trading aid; just make sure you set the DayStartHour to the right (5pm NY time) based on your broker's clock. The thread itself is quite worthy of review too.

http://www.forexfactory.com/showthre...36#post4437036
  • #20,770
  • Jun 6, 2011 8:16pm Jun 6, 2011 8:16pm
Correlation es/eu - After some weeks where correlation was almost to the 15M bar , we can now see it is broken....

And if I understand it right - ES falling like it does last week, and EU barly moves and then goes up is a SOS to the pair (even if it falles 85 pips today still good on a -1.08% es day)
  • #20,771
  • Jun 7, 2011 1:09am Jun 7, 2011 1:09am
Quoting s7c
From what I see compared fxcm feed through ensign with gavin's the the 4h bars are more accurate if you use gmt standard.
IBFX has always used GMT standard, I also prefer brokers that use GMT standard time...
  • #20,772
  • Jun 7, 2011 1:30am Jun 7, 2011 1:30am
Dear Gurus :

Euro is flying higher on what seems like little to no volume this morning. Is anyone following this or my signal feed not working correctly?

Momo.
  • #20,773
  • Jun 7, 2011 1:40am Jun 7, 2011 1:40am
I do have increasing volume last 2 hours EU and going through supply, but have to see what comes next.
  • #20,774
  • Jun 7, 2011 1:45am Jun 7, 2011 1:45am
EU-H1

Here is the picture.
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  • #20,775
  • Jun 7, 2011 4:39am Jun 7, 2011 4:39am
Break through resistance with no supply after, on EU. The volume of the breakthrough bar was very high though, I didn't enter because of that.
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  • #20,776
  • Jun 7, 2011 4:51am Jun 7, 2011 4:51am
Quoting Jasus
Break through resistance with no supply after, on EU. The volume of the breakthrough bar was very high though, I didn't enter because of that.
I sometimes struggle with this concept so someone can correct me if i'm wrong but that volume is probably absorption of sellers at the previous highs.

I'm personally a bit annoyed with missing that test, it tested the high of what is the highest volume bar on my chart. I thought about it for too long and it went. Granted it isn't a massive move but 30pips wouldn't have been bad.
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  • #20,777
  • Edited 6:13am Jun 7, 2011 5:06am | Edited 6:13am
Quoting KinsaleForex
I sometimes struggle with this concept so someone can correct me if i'm wrong but that volume is probably absorption of sellers at the previous highs.

I'm personally a bit annoyed with missing that test, it tested the high of what is the highest volume bar on my chart. I thought about it for too long and it went. Granted it isn't a massive move but 30pips wouldn't have been bad.
Just remember that if it was true SOW on that highest volume bar then the next bar should have been down. Absorption yes... some supply yes... knocked the market sideways for a short bit, tested and carried on. Looked at all of the downbars after that highest volume bar... none could close below the highest volume close trigger level (even that second bar after on increased volume closed back aove... SOS).
Today's zone = Tomorrow's opportunity!
  • #20,778
  • Jun 7, 2011 5:26am Jun 7, 2011 5:26am
I often have problems to see, when it is absorption volume and when not.
I believe TW said in one video, that if next bar is down with low volume, then it is absorption volume.
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  • #20,779
  • Jun 7, 2011 5:34am Jun 7, 2011 5:34am
Tom is speaking about absorption volume 39 min...but I have problems to hear everything what he is saying.

http://www.tradeguider.com/customer/..._intro/5a.aspx
  • #20,780
  • Jun 7, 2011 6:08am Jun 7, 2011 6:08am
Quoting pres78
Just remember that if it was true SOW on that highest volume bar then the next bar should have been down. Absorption yes... some supply yes... knocked the back sideways for a short bit, tested and carried on. Looked at all of the downbars after that highest volume bar... none could close below the highest volume close trigger level (even that second bar after on increased volume closed back aove... SOS).
hmmm it was my understanding though that excessive volume like that, even if the next bar is up may still be a sign of sellers coming in, just not enough to drop it YET but it could do very soon.

ive also seen volume like that with next bar closing down but then it goes flying up, on the 5min you can see it today, highest vol 5min bar, next bar down and eventually worked its way down to the open of that high vol bar, 23 pips down before eventualy going back up. having trouble trusting any of it!

wanting a test of 4655 yesterdays high now to go long as im convinced 4700 will be hit before the day ends and thats a likely place for it to start, so far just going sideways not quite reaching that level (that level is also the close of that highest vol 5 min bar today, just a bit scared they might take it all the way back to R1 at 33 before going up as that would take it below that high vol bar which cant be good?).
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