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Auction Market Theory and Market Profile

  • #3,341
  • Sep 5, 2011 7:21am Sep 5, 2011 7:21am
hi everyone,

back from summer break & I can see things here have been moving along. Lots to catch up on, but I just wanted to say what a great thread you have worked hard to make here. The programmers, the theorists & the chartist who have taken the time to explain their ideas for others to try & learn together. Smashing guys & girls!!!

Bilstein, interesting indy mod you are cooking up. Very smart & tight graphically to get a better idea of boundry areas. Playing around with today & could not get current letter (different color) on the daily timeframe to work. Just giving feedback, I know its only a little thing but it makes it a lot easier to see whats going on than running through the alphabet

all the best

alien
  • #3,342
  • Sep 5, 2011 8:10am Sep 5, 2011 8:10am
Hi, bud. I just read your post and noticed "Oh crap, that's happening to me too"

Search the code for "current letter" until you find this line:

if ( letterid == totalbar ) clr = CurrentLetterColor;

It's near the bottom and for some reason is commented out. Just remove the "//" and you'll be good.

Cheers!
  • #3,343
  • Sep 5, 2011 8:11am Sep 5, 2011 8:11am
Robin Mesch, in "Quarterly Edition: July –September 2011" sugested posibility for EURUSD 1.4780...since that failed then next LU bellow curent price as per same report is 1.38 or so...
The Market pays you to be disciplined
  • #3,344
  • Sep 5, 2011 11:21am Sep 5, 2011 11:21am
Quoting mima
Robin Mesch, in "Quarterly Edition: July –September 2011" sugested posibility for EURUSD 1.4780...since that failed then next LU bellow curent price as per same report is 1.38 or so...
shown MP since 2000 with monthly time frame...
Attached Image (click to enlarge)
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The Market pays you to be disciplined
  • #3,345
  • Sep 5, 2011 11:53am Sep 5, 2011 11:53am
Bilstein,

thats sorted great, lights are back on.

thanks v much

alien
  • #3,346
  • Sep 5, 2011 10:41pm Sep 5, 2011 10:41pm
Quoting Evak
On the right chart the daily profile have seen twice, the rejection when price probe into Wed's POC. No control to be had hear then as price dip back down to Thurs value range now. So the immediate reference for this day timeframe would be to see the reaction of thursday's lows & the control price.

As Friday end with a double distribution day, the odds are the LUA could be fill as price ledge in between the distribution. Session profile on the left indicate UK POC could be the attraction here providing the destination, round number of 4300 should...
hello Evak,

does your triangle moves? i find that using the indicator, the letters move to the left while the objects we drawn remain stationary. does any one know how to solve this issue?

thanks.

-guandi
  • #3,347
  • Edited 6:52pm Sep 6, 2011 2:27pm | Edited 6:52pm
CHF? Yes, I missed the trade on USDCHF...Well market was telling that something is going on...Since yesterday NY then A then partly L USDCHF was traded in very narrow VA... which means uncertainty and just before intervention volume started to increase. So market knew...
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The Market pays you to be disciplined
  • #3,348
  • Sep 6, 2011 10:14pm Sep 6, 2011 10:14pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
yesterday closed on the low, we had something like a double distribution day with a price closing at the second distribution, this would mean the price is accepted and today we should see a continuation? we are at the previous demand area though and yesterday we had some high volume which, i think it's necessary to be tested before any clear move...any ideas?
  • #3,349
  • Sep 6, 2011 11:34pm Sep 6, 2011 11:34pm
Quoting s7c
...any ideas?
Market Profile might help?
The Market pays you to be disciplined
  • #3,350
  • Sep 7, 2011 2:40am Sep 7, 2011 2:40am
I recently opened a Skype room for trading MP/TPO/AMT if anyone is interested, lemme know.

I started using ThinkOrSwim (papermoney account) for reading Futures currencies volume. I'm also trying Broco for the same thing...as they boast Futures volume. So far TOS is showing more accurate volume, here is the GBP on the M15 with TOS http://screencast.com/t/SuqdghtVK9V and here it is on Broco http://screencast.com/t/SuqdghtVK9V Even though the TOS papermoney account has a delay with the data feed, I've compared it to a live Futures account (Ninja) my friend has and it seems spot on. So, when I see a potential setup on the TPO chart http://screencast.com/t/Jw3WnYs2qLM I check TOS to see if there is corresponding volume to confirm...and as you can see from these examples, Spot Forex volume is not really true volume, though using a conventional volume indicator can be a starting point for detecting potential volume...then get a confirmation from a true Futures volume data feed.

Kind Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #3,351
  • Sep 7, 2011 4:13am Sep 7, 2011 4:13am
bandung and each guru

i want to backtest the history data using mt4 ea backtesting function by bandung's indicator, but the indicator doesnot show the history tpo but the now ones ,bandung and gurus can you help me ? i think it is the dll problem....
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  • #3,352
  • Sep 7, 2011 7:35am Sep 7, 2011 7:35am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting mima
Market Profile might help?
Helps allot, thank's. You need what else helps? Reading a phrase a couple times...
  • #3,353
  • Sep 7, 2011 9:22am Sep 7, 2011 9:22am
EU weakness seems exhausted to me...6 down days in a row, and Tuesday's US sessions could not complete the extension down. Time for a short covering rally IMO to WIBH @ 4280.

Still not trading EU, just my thoughts...
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Change is the only constant
  • #3,354
  • Sep 7, 2011 9:51am Sep 7, 2011 9:51am
Quoting tgwhbb
EU weakness seems exhausted to me...6 down days in a row, and Tuesday's US sessions could not complete the extension down. Time for a short covering rally IMO to WIBH @ 4280.

Still not trading EU, just my thoughts...
Sounds reasonable. A small part of me wants to think we still may go slightly lower first. The imbalance (excess) seems to be coming from above. It just seems it looks like it needs to balance. the same amount of selling excess should be countered with the same amount of buying excess imo unless the auctions not over. Lets see how it goes.
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Markets are not efficient, rather they are effective - Jones
  • #3,355
  • Sep 7, 2011 12:22pm Sep 7, 2011 12:22pm
Quoting Bilstein
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!
Ive had a chance to watch your recent RE tool over the last couple of days, and I sooooo like it!!!!!!! Its does @ the same thing I track long hand with a spreadsheet, but its pretty much on the chart, without me having to put those est. projections on the chart myself. Its a excellent point of reference and very informative. Great work! I definately appreciate your work and effort! Id definately be interested in any updates or additions. Again, thanx for the great share!
Markets are not efficient, rather they are effective - Jones
  • #3,356
  • Sep 7, 2011 1:46pm Sep 7, 2011 1:46pm
Since yesterday's Asia session EU is developing...Distribution is coming....in unspecified time when some news somewhere in the world tip the development.
The Market pays you to be disciplined
  • #3,357
  • Sep 7, 2011 2:51pm Sep 7, 2011 2:51pm
took an initial short on the S&P as shown, reasons indicated. I think it could still go up to WIBHx1 ~1200, but today's structure appears weak, and similar to EU, the bottom looks incomplete (not shown).
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Change is the only constant
  • #3,358
  • Sep 7, 2011 6:49pm Sep 7, 2011 6:49pm
Quoting mzvega
Ive had a chance to watch your recent RE tool over the last couple of days, and I sooooo like it!!!!!!! Its does @ the same thing I track long hand with a spreadsheet, but its pretty much on the chart, without me having to put those est. projections on the chart myself. Its a excellent point of reference and very informative. Great work! I definately appreciate your work and effort! Id definately be interested in any updates or additions. Again, thanx for the great share!
I'm glad it works out for ya! Sent you a PM about the VWAP range estimation.

More ideas in the works!
Cheers!
  • #3,359
  • Sep 7, 2011 7:42pm Sep 7, 2011 7:42pm
GU: Short at 1.5978 ...No Demand (red star * on chart) at POC on WMP...
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The Market pays you to be disciplined
  • #3,360
  • Sep 8, 2011 3:45am Sep 8, 2011 3:45am
Quoting guandi
hello Evak,

does your triangle moves? i find that using the indicator, the letters move to the left while the objects we drawn remain stationary. does any one know how to solve this issue?

thanks.

-guandi

Sry bro, just back from japan for my outstation job.

Actually any object you draw will not move, but rather it is the TPO text that moves. It is becoz the way the indicator is design; It appends any new period to the right edge of the screen & the rest of the text b4 it will be move or shift to accommodate it.

So the text move but the object remains stationary.
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