Auction Market Theory and Market Profile
- #3,522
- Oct 18, 2011 4:07pm Oct 18, 2011 4:07pm
U have to be fit to get those 4 waves bro...
I am more incline to wait out for the NY day session opening then to jump in prior to the 8am EST open, unless the price was mark down just enough to trap the shorts.
Took this trade base on the same premise:
1: UK inventory was short - so expect possibility opposite adjustment.
2: UK Range extension was stop short & reverse back into its IB range....
3: UK low was a bad low - expect a lower low then...
4: NY opening was mark down, enough to kill those stops & reverse...5 min bar gave a...
why you're saying uk made a bad low?
would you define this as a high probability trade? i'm asking because the start of us session was kind of similar with yesterday
thank's for you're sharing, it helps allot
- #3,526
- Edited 2:04pm Oct 20, 2011 12:03pm | Edited 2:04pm
- Joined May 2009 | Status: Trader | 1,879 Posts
Mr. Anderson (Neo), Hafeez or anyone.. you can give it a try now. Go here
. I like the way you added the split profiles. When you split the profile, each bar(letter sequence) has a “wingding” on the close of the bar. Can I make a slight sugguestion? The “CQG” MP indicator that JD uses has a little blue arrows on his charts, The arrow on the right(that points left) is the current price of the bar, and the arrow on the left(that points right) marks “halfback”. It marks an important daytime reference point “half-back”. Half back is used on the first 30m bar, and also the “halfback” point of the current days range, is always an important daytimeframe reference point. Being that this indi is made for daily (short term) & session profiles, “half back” would be a great addition. Even just a wingding of the floating halfway point would be great.
From the glossary on JD’s website: http://jamesdaltontrading.com/blog/glossary/#H
“Half back: This reference is usually reserved for day and short-term timeframe trading and is most applicable when the day or short-term timeframe is dominating the market. It is also most applicable during the market’s initial auction; if there are day or short-term timeframe buyers below the initial rally high, or day or short-term timeframe sellers above the early auction decline, they tend to surface on a 50% pullback or 50% rally of the initial auction range (high to low). Throughout the day the half back reference ”floats” as there is range extension; however, it is still a day and short-term timeframe reference. We stress day and short-term timeframe because when the market is dominated by longer timeframes they pay no attention to these very short-term references. It is always important to know what timeframe is dominating since the trading behavior will change. “
To quote JD in this link: (look for the word "halfback" in green) http://jamesdaltontrading.com/blog/2...et-confidence/
“ Halfway back: I lost my best trading friend last year, he was a short-term hedge fund trader known as the king of “half back”; the first 30 minute period has a center of that range, which is referred to as “half back” or half way back. If he wanted to buy and the market rallied prior to him getting his position on he was an automatic buyer at half way back. As the range for the day extends there will always be a center of the daily range; that center or half back continues to be a short-term reference throughout the trading day.”
I love this indicator, I am just torn between the TPO chart ind And the new one. The old tpo chart indi is wonderful with the additions made by Bilstein (rf, qclose, aru, ard). I just don’t want to give it up. the longer tf profiles are extremely valuable and in time, I hope there may be an update to the longer tf profiles to include vol on the vertical & possible “halfback reference”. Again great job! Im looking forward to watch this new indi in real time. Again great work!!!!!
ps. I think the "range" in the new indi "tpo window" is different from the other. Will post observation in different post
Markets are not efficient, rather they are effective - Jones
- #3,527
- Oct 20, 2011 12:26pm Oct 20, 2011 12:26pm
- Joined May 2009 | Status: Trader | 1,879 Posts
Markets are not efficient, rather they are effective - Jones
- #3,528
- Oct 20, 2011 1:18pm Oct 20, 2011 1:18pm
- Joined May 2009 | Status: Trader | 1,879 Posts
Markets are not efficient, rather they are effective - Jones
- #3,531
- Oct 20, 2011 6:33pm Oct 20, 2011 6:33pm
- Joined May 2009 | Status: Trader | 1,879 Posts
Oh, and the reason the range info is off is because he uses:
DoubleToStr((hh-ll)/gdPoint, 0)
Change to:
DoubleToStr((hh-ll)/gdPoint, 1)
To view the .0X
Ill see if I can get it working. Any ideas to get vol on the vertical for the tpo chart indi????? I really dont want to give up the aru, ard, rf, etc. Again thanx!!!!
Markets are not efficient, rather they are effective - Jones
- #3,534
- Oct 20, 2011 7:11pm Oct 20, 2011 7:11pm
- Joined May 2009 | Status: Trader | 1,879 Posts
Actually, I've already coded the data in, RF, QC%, Volatility, Rate of Change, and Change. I've also coded the separators and half back marker. The average up and down range is tough to get into the sessions indi but I'll give it a whirl!
. It works well on the daily & higher profiles.
Markets are not efficient, rather they are effective - Jones
- #3,535
- Oct 20, 2011 8:20pm Oct 20, 2011 8:20pm
I haven't actually. I'm sure I could with some reverse engineering. Thing is, I don't quite understand how Bandung retrieves and formulates the volume data. If I can figure that out than I can do it. I think that what he does is;
Totally ignoring open and close, just think range of candles...
Say candle A (first 30 mins of the day) spans 3850-3865 and has a volume of 1,500. At each price point you will see the value displayed as 1,500 (the horizontal volume)
Now, say candle B (second 30 mins of the day) reverses the opposite direction and covers the same price points (for simplicity sake) 3850-to-3865 and has a volume of 1,500 as well. Now, the horizontal volume will display 3,000.
So, say for example, candle B spans 3860-3875 and has a volume of 1,500... The price points from 3860-3865 will display 3,000 and the price points from 3866-3875 will display 1,500 on the horizontal volume.
I think the volume figures are "stacked" the same way the prices would be to make the profile.. I think. I'd love for someone to clarify..
Oh, also, you can see the horizontal volume on weekly, monthly, etc simply by enabling it on the indicator. It's one of those numbers up there. Delete it and refresh, then turn on "Chart shift" (under the chart option on MT4) and you'll see the horizontal volume figures and TPO @ price figures.
Totally ignoring open and close, just think range of candles...
Say candle A (first 30 mins of the day) spans 3850-3865 and has a volume of 1,500. At each price point you will see the value displayed as 1,500 (the horizontal volume)
Now, say candle B (second 30 mins of the day) reverses the opposite direction and covers the same price points (for simplicity sake) 3850-to-3865 and has a volume of 1,500 as well. Now, the horizontal volume will display 3,000.
So, say for example, candle B spans 3860-3875 and has a volume of 1,500... The price points from 3860-3865 will display 3,000 and the price points from 3866-3875 will display 1,500 on the horizontal volume.
I think the volume figures are "stacked" the same way the prices would be to make the profile.. I think. I'd love for someone to clarify..
Oh, also, you can see the horizontal volume on weekly, monthly, etc simply by enabling it on the indicator. It's one of those numbers up there. Delete it and refresh, then turn on "Chart shift" (under the chart option on MT4) and you'll see the horizontal volume figures and TPO @ price figures.
- #3,536
- Oct 20, 2011 10:39pm Oct 20, 2011 10:39pm
- Joined May 2009 | Status: Trader | 1,879 Posts
I haven't actually. I'm sure I could with some reverse engineering. Thing is, I don't quite understand how Bandung retrieves and formulates the volume data. If I can figure that out than I can do it. I think that what he does is;
Totally ignoring open and close, just think range of candles...
Say candle A (first 30 mins of the day) spans 3850-3865 and has a volume of 1,500. At each price point you will see the value displayed as 1,500 (the horizontal volume)
Now, say candle B (second 30 mins of the day) reverses the opposite direction and...
. Im thinking it may have to to with the "call library", or possiblly have to do with the other associated files that were installed with the indicator. The ones that go in the "include" & "libraries" folder. you can open and read/edit in metaeditor like you would an indi. glancing at the code it may give a clue. open "ay-mplib.v102.mq4" in the libraries folder and look at the code. Its a thought
Markets are not efficient, rather they are effective - Jones
- #3,537
- Edited 11:12pm Oct 20, 2011 10:57pm | Edited 11:12pm
I haven't actually. I'm sure I could with some reverse engineering. Thing is, I don't quite understand how Bandung retrieves and formulates the volume data. If I can figure that out than I can do it. I think that what he does is;
Totally ignoring open and close, just think range of candles...
Say candle A (first 30 mins of the day) spans 3850-3865 and has a volume of 1,500. At each price point you will see the value displayed as 1,500 (the horizontal volume)
Now, say candle B (second 30 mins of the day) reverses the opposite direction and...
glad to see u again... i thought you'll gone forever
about the halfback sign, i think Bil can help u. as i cant do it for now.
@bilstein
bil you can access horizontal volume using mpdata[X][MP_VOL] where X is row number. row number #0 is at the top of profile
mzvega was right, you can see how it work on library file.
horizontal volume calculated from average volume per bar per pip.
example :
bar A's range is 100 pips and volume is 1000, then volume per pip of bar A is 1000/100 = 10.
when 5 pips of bar A's range is in a profile row, then bar A will contribute to row volume as much as 5*10 = 50. if only 3 pips in profile row then it will be 3*10=30.
i hope you know what i mean.
...
Just a quick grab on this trade...boss is watching :S
Tokyo inventory is actually short but somehow this morning see Tokyo fail to auction above it rather early. Took the short as i saw my ques just prior to Frankfurt opens.
daily reference coincides with VAH & now seeing rotation down to VAL or near 3700 which is my 2nd target....hopefully reference the US low.
http://img713.imageshack.us/img713/7...4oct211520.gif
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