Auction Market Theory and Market Profile

Mine seems to work try mine. By the way, I was really interested in your volatility addition on your indi. it gives me ideas, could you share that so I can see how its written, I might learn something?

Oh thank you! I took took the chunks of code from the one you just shared and plopped them into mine. Fixed the Q1 display error.

Before I share mine, I have to let you know what I've done. It's kind of a Frankenstein:

Added:
Rate of Change
Volatility
Average Range Up
Average Range Down
Average True Range

to the data box above the profile.

In the indicator settings I added an external integer called "REPeriod" This is so you can average periods as far/near as you want [relative to today] without having to change your lookback period. The Range estimation doesn't work on Q1 and Y1 profiles because in order for me to use the IMA line to calculate the averages, it needs to use existing data. I'm sure someone knows how to do it better but I'm not big on asking for favors.

I also added separators between the profiles so each profile will be separated by where the OHLC bar is displayed. This you can turn on/off in the indicator settings.

Also added an external bool called "ShowCamPivots" - it's defaulted to false. When set to true, it will display Camarilla Pivots. If set to False, it will display Fibonacci Pivots. The pivots are set a day behind for easy display so, when trading today, I will use the pivots drawn on the previous day's profile as reference points.

Go easy on me.

Wow, very interesting, I am impressed! We are very like minded in the way we're trying to use data. You definately gave me some ideas! Im curious if we could do the same with avg open to high/Open to low, etc..... the same way. Im looking forward to taking a good look see what I can figure out. Again, thanx the fresh ideas are much appreciated!!!!!!

You're welcome! The range estimation can sometimes perform fairly accurately. I have mine set at 21 (like my lookback) and 8/28 on the high end was pretty spot on, and 8/31 and today were pretty close on the low end. I've been racking my brain on a better way to calculate I just keep in mind; it isn't a prediction of anything. It's an estimation of range activity based on average range activity over a given period. If you come up with anything lemme know!

Ill definately share anything I come up with, 2 brains are better than one! Ill have some time over the weekend to give it a good read!

Wow, Bilstein! Really good work!

NeoRio

So, by using a setting of 21, it looks back 21 days and gives an average of the RE? So if you wanted to see an average of the last 3 months, you'd input 60, if you wanted the last week's average you'd but 5, etc?
How does it calculate which direction to print the RE? I know the markets are closed right now and maybe the charts will look different with a data feed, but it looks to me that the RE lines are picking a low and plotting the extension to the opposite direction instead of giving an option to either side of the range.

Thanks,
Neo

The MP indicator has a "look back" period and draws however many profiles you enter for "look back". Initially, I had the average range fluctuations based on whatever you put in as your lookback. I wanted more flexibility so I added an extra option so you can put in whatever period you want the average to be without having to change your lookback period. Essentially, you can look at 2 profiles (e.g. lookback = 2) with an average range fluctuation of 50 (e.g. REPeriod = 50) without going through the trouble of having to look at 50 profiles (lol).

In terms of your question, yeah. If you're looking at daily profiles, say you set "lookback" to 7 so it draws you 7 daily profiles. If you change REPeriod to 60 it will draw an average range for the last 60 days.

What the RE does is simple, actually;

Let X = whatever period you put in for "REPeriod"

High(averaged over x periods) - Open(averaged over x periods) = average upwards fluctuation(for x periods)

Open(averaged over x periods) - Low(averaged over x periods) = average downward fluctuation(for x periods).

You are left with 2 values, average push up from the open and average push down from the open over x periods. Next:

We take the current open (today's open, for example) then ADD the average upward fluctuation to it and SUBTRACT the average downward fluctuation from it.

So, for example, say your average "upflux" is 65 points and your average "downflux" is 35 points. Today's open is 1.4500 (for simplicity's sake). The indicator will draw a range (the Gray bars to the right of the profile) from 1.4565 to 1.4465. The reason it looks like it's plotting a low and drawing an extension is because, well, sometimes the estimations are pretty good. Other times, they're way off. However, consider this same example:

Todays open is 1.4500.
The estimated range is 1.4465 at the low end and 1.4565 at the high end.
Prices push up towards 1.4565 and volume starts to dry up, or you see a doji or whatever reversal system you use starts giving you a signal. The Range estimation now provides you with an additional reference point to place an entry or stop loss order. If you were to sell @ 1.4565 (the estimated high) or near it (+/- 5 -to-10 points) you know that since it's an average range (much like the ATR) you can make a low-risk entry.

When I trade, I like to know when I'm wrong. The more reference points I have the better. It does what it's supposed to do but just remember, it isn't a prediction tool. It's a simple estimate of what today's extremes COULD be based on a historical average of extremes.



*EDIT*
If you're using my version of the indi, turn the profile data on and look at the values for "ARU" and "ARD". Take the ARU, add it to the day's open and the ARD and subtract if from the days open. It will give you the range estimation.

Bilstein

I still have problem to place indicator at all on the chart.Any indicator that is based on Bandung indicator(s) I cannot place on the chart...
Any idea what might be problem?

This is the very last time I do this.......... None of those indis will work
if you dont use the ascociated files that go with them.
Open program files, and open the folder to your trading platform, open the experts folder. Now place the downloaded files in the folders with the same name. If you already have a file with the same name, delete it and use the new one. That means, open the downloaded folder that says "include" take those files and place them in the "include" folder in the "experts" folder of your trading platform. Then
open the downloaded folder that says "libraries" take those files and place them in the "libraries" folder in the "experts" folder. Again, if you already have a file with that name, delete it and use the new one.
Then
open the downloaded folder that says "scripts" take those files and place them in the "scripts" folder in the "experts" folder. Again, if you already have a file with that name, delete it and use the new one. Then you take the "indicators" in the downloaded file folder and place them in the "indicator" folder in your experts folder.

Instuctions can also be found http://www.forexfactory.com/showthre...60#post4550060
and here http://www.forexfactory.com/showthre...26#post4608726
And in several places Bangdung states any indis and info can be found on his site.

Thanks, Bilstein...great explanation!

NeoRio

Thank you ...

Let me know if you get it running or not.

Almost is running...I have no letters...Need another indicator? on the chart: ay-TPOChart.v1.01.mq4

Select & delete the circle #1, each time you delete it will go to letters, then if you delete it again it will go back to the histogram.

The tricky part is the chart wont change when the marketis not open! So, when the market is not open, you have to drag the 7-bit script to the chart for the changes to take place. So since the markets closed, delete the #1 circle, then drag the 7-bit script and drop on chart.
you dont need both indi on the chart. But you do need to drag the 7-bit script, to make changes to either indi if the markets not open.
Let me know if you get it working or not

Yes, It works, Thank you for your time...

Great!
I will be looking forward to seeing some of your charts in future posts!!

Thank you again...I use MP a little bit differently then most of you on this theread...and that is use of standard deviations.It might take me time to use these letters...

H4 on YMP...Price is market driven( going forward from POC). It might reach VAL at 1.4012...

Numbers(VA and POC) on Indicator that I use for standard deviations reason and: ay-TPOChart.v1.01.mq4 are different; maybe formulas are different...In addition changing time frame from H4 to D1 on same YMP gives me different values for VA, POC. Why? No clue...

A little update:

I added an extra option to the Range Estimation tool that accounts for Volume Weighted Moving Averages of the prices.

It appears to work but market is closed. I'm going to run it a bit while the market is open.

I'll keep everyone posted as it evolves!
(If you care)

Cheers!