EU 25k tic with no move. Example of setup
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Auction Market Theory and Market Profile
Hi All and thank you for all the interesting posts here.
I have used MP since I first started trading back in the early 80's because I intuitively felt it held something different and more useful than most bar chart based startegies which seem to be mostly price based.
However I notice all the graphics posted here are "old" market profile. Does anyone here use Peter Steidlmeyer's Capital Flow software?
I'd be interested in hearing from you.
I have over the years landed at the point where the only market condition I want to trade is "minus...
With regards to the profile as describe as being old, I guess it really depends on how you apply it really. The core of analysing the structure of MP is still pretty intact. Just that the so call TIME factor was being introduce recently in Steidlmeyer Webminar does not dilute the current methodoly IMO.
According to my understanding of his TVP (TIme Variable Profile), A single day profile can infact be split into several profiles with user define time in order to flatten the vertical response of the current market. Basically to achive price stabilty in order for one to plan an trade execution; essentially to anticipate the next time compression period during the time when price is stable.
So if a user define an 11 wide TPO before the next group of TPO is form, either via change in market structure (Change in price on the extremes) or predertime time as mentioned early, one can evaluate the time/price strucutre more efficiently so to speak.
There is a similar function in MarketDelta that does this awhile back. Is call dynamic profile which allows user to define the TPO wide period allowable per profile (for any given time frame e.g 15minsm 30mins) & the number of TPO wide period price range if price break out; before a new profile is allow to form. Which ever comes 1st.
Here is an example chart of my MD showing 12 wide TPO with a breakout range of 8 wide tpo. So e.g If there is no break out of the previous 8 wide TPO then profile will continue to be developed int 12wide before a new profile is form. So any change in vertical & horizontal stabilty can be "SPLIT" once there is any change in the strucutre.
Or you can stick to using a 3 session chart like what we use here which may not offer granularity like what u get using MD but the way of analysis is all the same...
The chart show price from yesterday low...
http://i.imgur.com/PBvft.gif
- #4,946
- Nov 16, 2012 6:33am Nov 16, 2012 6:33am
We dont use CAPFLOW because we dont trade the Futures market here. Everything you see is custom coded for MT4
Wow since the 80's. I wasn't born back then
With regards to the profile as describe as being old, I guess it really depends on how you apply it really. The core of analysing the structure of MP is still pretty intact. Just that the so call TIME factor was being introduce recently in Steidlmeyer Webminar does not dilute the current methodoly IMO.
According to my understanding of his TVP (TIme Variable Profile), A single day profile can infact be split into several profiles with user define time in order to flatten the vertical response...
- #4,952
- Nov 19, 2012 10:23pm Nov 19, 2012 10:23pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #4,953
- Nov 19, 2012 10:33pm Nov 19, 2012 10:33pm
Evak and Qtrader thanks for your replies. Much appreciated except for making me feel old
I like looking for Step 1's (strong directional moves) because I am a terrible range trader but I get value from being at the start of a multi day / week move. I find by counting the total number of initiating type situations over say a five or six day period, tells me whether to stay with a move once I've identified the initial Step 1. Comes down to different strokes for different folks I guess.
I like looking for Step 1's (strong directional moves) because I am a terrible range trader but I get value from being at the start of a multi day / week move. I find by counting the total number of initiating type situations over say a five or six day period, tells me whether to stay with a move once I've identified the initial Step 1. Comes down to different strokes for different folks I guess.
- #4,955
- Nov 20, 2012 12:07am Nov 20, 2012 12:07am
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #4,958
- Nov 22, 2012 8:47pm Nov 22, 2012 8:47pm
- Joined May 2009 | Status: Trader | 1,879 Posts
Markets are not efficient, rather they are effective - Jones
I am familiar with that indicator.......... I dont believe there is anything wrong with the indicator, the indicator uses CME data, and CME Globex Market is on "Holiday" schedule. The CME wont open until 17:00 CT Friday, Nov. 23, 2012. So I wouldnt expect to see any data from it, until the CME opens.......
Thank you, MZVEGA
I much apreciate it
I have found that indicator + cluster delta and start to be intrested about it just yesterday
So I could have a few stupid questions in future but I wil study it hard ASAP.
That russian page is pain in the arse, god thank for google translator.
By the way, I have one silly question probably.
If Im watching only currency pair AUDUSD, shall I focus in Cluster Delta for futures volume AUD or even USD index?
My favourite technique is wait til there is about 3 bars up, down or extra big candle, then watch for "background" weakness or strenght. Thats why I need to see "real" Bid and ASK, and if there is coming some absorbing "countermove" buying or selling.
with regards
Andrej