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Auction Market Theory and Market Profile

  • #3,881
  • Jan 11, 2012 1:31am Jan 11, 2012 1:31am
Quoting hohgch
mzvega:

are you in GMT+8 timezone? For the indi did you use the default times (server, tokyo, london, etc) set by bandung or did you change? if you did change does it make a big difference? Thanks for your patience.
Im in GMT -8
My brokers server is 0 GMT. For the daily (24h) profile I use 00:00 GMT. For the "sessions" I use 00:00 GMT for the asian session, 07:00 GMT for the European session, and 13:00 gmt for the US open. It really is a matter of personal preference. The following post is from awhile back, but very similar in nature as to personal preference.
http://www.forexfactory.com/showthre...08#post4966508

If you observe & experiment with different times youll find something that works for you.

Heres a great link I found here @ FF awhile back for a 24h Market clock, I find it very useful to keep track of market opens & closes.....
http://www.stocktime.ru/en/index.html
Markets are not efficient, rather they are effective - Jones
  • #3,882
  • Jan 11, 2012 1:47am Jan 11, 2012 1:47am
man, wish there was a manual!!! :-)
  • #3,883
  • Edited 2:35am Jan 11, 2012 2:11am | Edited 2:35am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting s7c
anyway the strategy for tomorrow i think is to go with a break out of the fat day from JD point of view
the statement is true for a previous inside day, sorry for any confusion.
i got long, one of the reasons was the market failed to auction lower then yesterday and the asia session resembles with a long liquidation break. overall i'm still bearish so i would take part of profit as soon as i can...
edit: i see nobody didn't said anything regarding my confusion, even i think some notice it. most of my post involves trades which made me raise some questions even if are successful or losing trades . i don't post to prove i'm right, as i said before i intend to learn more after...so, i think to be a better trader we need to interact more with each others posts. that's just my idea, good luck...
  • #3,884
  • Jan 12, 2012 1:39am Jan 12, 2012 1:39am
In the info panel there are six numbers that goes in blue and pink. What are those?

Thanks.
  • #3,885
  • Jan 12, 2012 5:21pm Jan 12, 2012 5:21pm
Quoting Scrat
just an example of what can be done with dynamic value indicator - nothing new in terms of trading principles, just using a more accurate tool.

blue areas are dyn val for last 24 hours; 70% of the activity occurred within this channel - works like a charm for trading inside the channel or when price is ranging... just buy at lower limit, tp / sell at upper limit. or adjust accordingly based on higher tf trend.

my trade for today - buy@3426, [email protected], tp@3480 (weekly points up, it's already trading above weekly dynamic value - not shown here)....

Hi Scrat,
is it possible that you share a template with the dynamic value indicator settings with us?
would be great.
thanks
  • #3,886
  • Jan 18, 2012 5:40pm Jan 18, 2012 5:40pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
after we failed to extend the balance area on daily, on downside we got the reaction and today we tested the opposite side. remaining at daily chart we got today a day which breached the long term channel and as we see the long term down trend get weaker, the distance between balance area becoming smaller. today we got a fat day, with a lack of confidence intra-day but in the end we closed on high and extended the weekly range and we got the value area range overlapping higher on good volume. so it's this an unfair price for sellers and we will continue to auction higher in short term just to facilitate the down move or this day was an "absorption" and we will continue to auction higher in long term?
i had a lost trade today, i went long after frankfurt open and went to sleep but the potential italy downgrade took me out in start of london.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.jpg Size: 131 KB
  • #3,887
  • Jan 19, 2012 12:11am Jan 19, 2012 12:11am
Quoting s7c
after we failed to extend the balance area on daily, on downside we got the reaction and today we tested the opposite side. remaining at daily chart we got today a day which breached the long term channel and as we see the long term down trend get weaker, the distance between balance area becoming smaller. today we got a fat day, with a lack of confidence intra-day but in the end we closed on high and extended the weekly range and we got the value area range overlapping higher on good volume. so it's this an unfair price for sellers and we will...
There was a minor liquidation break after UK opens, which i believe was the one that hit u. I wanted to go long too but my reference was my Tokyo low. So i waited for that. another words i have no basis to go long then.
  • #3,888
  • Jan 19, 2012 12:16am Jan 19, 2012 12:16am
Interesting liquidation break if u did not know that...anyway FYI, purely my take of what has transpired & next reference...

http://img404.imageshack.us/img404/3...8jan191406.gif

Weekly showing target to VPOC, just below 2950. (Euro Futures Have a previous 2 week period VPOC on 2950)
http://img841.imageshack.us/img841/3...9jan191415.gif
  • #3,889
  • Jan 19, 2012 10:10am Jan 19, 2012 10:10am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
hi evak, i'm not sure what do you mean by that?
Quote
Interesting liquidation break if u did not know that...anyway FYI

i would really like you to elaborate regarding
Quote
I wanted to go long too but my reference was my Tokyo low. So i waited for that. another words i have no basis to go long then.
i mean the 30 min period right before frankfurt could very well mean testing of tokyo's low and failing to find acception lower, isn't it? it was below tokyo's value area and beside frankfurt open is tricky i don't see a reason not to buy once we decided it's the highest probability trade for the day.
  • #3,890
  • Edited 11:54am Jan 19, 2012 11:30am | Edited 11:54am
Quoting Evak
Interesting liquidation break if u did not know that...anyway FYI, purely my take of what has transpired & next reference...


Weekly showing target to VPOC, just below 2950. (Euro Futures Have a previous 2 week period VPOC on 2950)
hi evak..

if we merged last 4 weeks profile, than we got 3 HVNs.
currently price is near to 2nd HVN (2950), which is Weekly VPOC as you mentioned.
since last 6 weeks DTL is broken, maybe eu can go to 3rd HVN around 1.303x which is Dec 2011 POC... which is only 50-100 pips from 2950
if only 2950 broke
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-last4weeksmerged.png Size: 140 KB
Click to Enlarge Name: eu-h4.png Size: 37 KB
...
  • #3,891
  • Jan 19, 2012 11:31am Jan 19, 2012 11:31am
Quoting s7c
hi evak, i'm not sure what do you mean by that?


i would really like you to elaborate regarding i mean the 30 min period right before frankfurt could very well mean testing of tokyo's low and failing to find acception lower, isn't it? it was below tokyo's value area and beside frankfurt open is tricky i don't see a reason not to buy once we decided it's the highest probability trade for the day.
I was refering to LLB. Long liquidation break which potentially strengthen a market because it removes potential sellers & getting rid of weak longs. Last friday's rapid selloffs after a rally was a major one, another one is the dip before UK opening yesterday which is also a form of LLB. Common characteristics are its sudden longer then normal spread dips with increase volume...

Chart indicating major & minor LLB. The minor LLB often a sign latent by-product of the Major LLB, can be very indicatives.

http://img198.imageshack.us/img198/8...3jan200120.gif

Uploaded with ImageShack.us
  • #3,892
  • Jan 19, 2012 11:43am Jan 19, 2012 11:43am
Quoting bandung
hi evak..

if we merged last 4 weeks profile, than we got 3 HVN.
since last 6 weeks DTL is broken, maybe eu can go to 3rd HVN around 1.30xx which is Dec 2011 POC... which is only +-50 pips from 2950
Lol nice work bro....

Off topic here sorry, Coincidently, I have my Wyckoff level targeting 50 pip above 2950 actually...Level H... 1.3000

Now were can find that merge Function ...

http://img217.imageshack.us/img217/9...4jan200140.gif

Uploaded with ImageShack.us
  • #3,893
  • Jan 19, 2012 11:59am Jan 19, 2012 11:59am
Quoting Evak
Lol nice work bro....

Off topic here sorry, Coincidently, I have my Wyckoff level targeting 50 pip above 2950 actually...Level H... 1.3000

Now were can find that merge Function ...

http://img217.imageshack.us/img217/9...4jan200140.gif

Uploaded with ImageShack.us
still in the making
...
  • #3,894
  • Jan 19, 2012 12:05pm Jan 19, 2012 12:05pm
I have a longer term position since 2651. This is one of my intraday trades today riding with the trend.

refernce was previous UK high as i have mentioned previously today...This trade targeting 2950 with initial exposure lock at 61p. Initial risk was 18p.

http://img685.imageshack.us/img685/3...6jan200205.gif

Uploaded with ImageShack.us
  • #3,895
  • Edited 12:52pm Jan 19, 2012 12:32pm | Edited 12:52pm
Quoting bandung
still in the making
btw if any of you can test it out i share it here, tpochart v1.30. any report about its bugs/errors and how you've got a market view by merging/splitting a profile is appreciated.

i only upload ex4 and dll files, as it use a lot of include files and i dont want to confuse anyone.
this is the list of include files so you know what i mean
Inserted Code
#include <ay-iBetterVolume.v1.10.mqh>
#include <ay-CommonFn/AddStr.mqh>
#include <ay-CommonFn/StrReplace.mqh>
#include <ay-CommonFn/GetBarByTime.mqh>
#include <ay-CommonFn/GetSBEB.mqh>
#include <ay-CommonFn/GetHHLL.mqh>
#include <ay-CommonFn/SelfFakeTick.mqh>
#include <ay-CommonFn/GetTf.mqh>
#include <ay-CommonFn/Object.mqh>
#include <ay-CommonFn/StrToIntArray.mqh>
#include <ay-CommonFn/StrToStrArray.mqh>
#include <ay-TPOChart.v1.30/const.mqh>
#include <ay-TPOChart.v1.30/settingandinfo.mqh>
#include <ay-TPOChart.v1.30/maindrawing.mqh>
#include <ay-TPOChart.v1.30/DoMT4MPGet.mqh>
#include <ay-TPOChart.v1.30/helper.mqh>

this is a new features i incorporated to v1.30
Merge Profile
for example you want to merge profile #1 to #5 and #6 to #7

  1. create a Text Label
  2. name it mpm (in lower case)
  3. set text 1-5; 6-7
    important : you separate each merged profile by semicolon
  4. hit ok


Remove Merge Profile

  1. create a text label
  2. name it mpm
  3. set text x
  4. hit ok


Split Profile
for example you want to split profile #0, #1, #3

  1. create a Text Label
  2. name it mps (in lower case)
  3. set text 0; 1; 3
    important : you separate each split profile by semicolon
  4. hit ok

Remove Split Profile

  1. create a text label
  2. name it mps
  3. set text x
  4. hit ok

Attached Image
Attached File(s)
File Type: rar ay-TPOChart.v1.30.rar   57 KB | 3,444 downloads
...
  • #3,896
  • Jan 19, 2012 12:34pm Jan 19, 2012 12:34pm
Quoting Evak
I have a longer term position since 2651. This is one of my intraday trades today riding with the trend.

refernce was previous UK high as i have mentioned previously today...This trade targeting 2950 with initial exposure lock at 61p. Initial risk was 18p.

http://img685.imageshack.us/img685/3...6jan200205.gif

Uploaded with ImageShack.us
...
  • #3,897
  • Jan 19, 2012 2:49pm Jan 19, 2012 2:49pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
I was refering to LLB. Long liquidation break which potentially strengthen a market because it removes potential sellers & getting rid of weak longs. Last friday's rapid selloffs after a rally was a major one, another one is the dip before UK opening yesterday which is also a form of LLB. Common characteristics are its sudden longer then normal spread dips with increase volume...

Chart indicating major & minor LLB. The minor LLB often a sign latent by-product of the Major LLB, can be very indicatives.
yes, i understood this in the last post. nice approach by the way, but why you waited, what made not to take the trade after you saw the response of frankfurt at the period just before, how did you know it was a weak long and would follow a liquidation break? i didn't know and i took yesterday's long and i took friday's long either(friday's was profitable) but after i didn't got short because i really didn't anticipate a move in such manner.
sorry if i bother you with my question, all i try to do is to understand your view and become a better trader.
thank you
  • #3,898
  • Jan 19, 2012 9:20pm Jan 19, 2012 9:20pm
Quoting s7c
yes, i understood this in the last post. nice approach by the way, but why you waited, what made not to take the trade after you saw the response of frankfurt at the period just before, how did you know it was a weak long and would follow a liquidation break? i didn't know and i took yesterday's long and i took friday's long either(friday's was profitable) but after i didn't got short because i really didn't anticipate a move in such manner.
sorry if i bother you with my question, all i try to do is to understand your view and become a better trader....
That was base on the assumption that last fri's inventory was long & the posibilty of being deem too long by the market increasese as it goes higher. if u recall, last Friday's high was the 2nd leg up to Thur's rally high already. Of coz I won't know there after there will be an LLB till i see one but after a down trend & shortcovering, any furthur adjustment (in preparation for the upside usually involves some level of LLB within the market structure as it tries to a break higher within it's accumulative range.

Back to your question on your Tuesday trade. I assume u are refering to the 17 of Jan.

Here is my chart. It is self explainatory as i not sure if your references is exactly like mine. I got the feeling your TK low reference is different.

http://img833.imageshack.us/img833/1...8jan201101.gif

Uploaded with ImageShack.us
  • #3,899
  • Jan 20, 2012 1:54am Jan 20, 2012 1:54am
Quoting bandung
btw if any of you can test it out i share it here, tpochart v1.30. any report about its bugs/errors and how you've got a market view by merging/splitting a profile is appreciated.

AMAZING STUFF B!

Now i can see were i am relative to the super longterm range...look at the yearly profile & the Merge of the last 4 years of Balance...

Looks like we have bounce off the VAL
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_30 Jan. 20 15.40.gif Size: 43 KB


Something i wanted to ask but forgotten to. Is it possible to be able to set the session time for (especially for NY) to like XX.XX (e.g. 15:30). I believe the variable type have to chng i suppose?

tks again...
  • #3,900
  • Jan 22, 2012 7:56am Jan 22, 2012 7:56am
Quoting bandung
btw if any of you can test it out i share it here, tpochart v1.30. any report about its bugs/errors and how you've got a market view by merging/splitting a profile is appreciated.

i only upload ex4 and dll files, as it use a lot of include files and i dont want to confuse anyone.
this is the list of include files so you know what i mean
[code]#include <ay-iBetterVolume.v1.10.mqh>
#include <ay-CommonFn/AddStr.mqh>
#include <ay-CommonFn/StrReplace.mqh>
#include <ay-CommonFn/GetBarByTime.mqh>
#include <ay-CommonFn/GetSBEB.mqh>
#include <ay-CommonFn/GetHHLL.mqh>
#include...
Bandung
really great stuff ;-)
Just some clarifications:
-I'm located in Belgium, GMT+1 .
-I want to use only a day profile
I must set some special parameter or I can let the default value?

I see that the default value for opening hours are set as following:
AsiaOpen :0
EuropeOpen=8
USOpen=13

According to me are fine , but I see that letters A are also painted on different time than the first 1/2 hour. See screenshot in attachment.Can you please clarify that?


- I'm a convinced believer of VSA . I see that also you use it with some volume indicator. Are those reflected in the MP indicator? How I can use them?

Thanks in advance
Fabio
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 88 KB
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