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Auction Market Theory and Market Profile

  • #5,941
  • Oct 15, 2016 4:21am Oct 15, 2016 4:21am
Perfect!! With a little effort I found all the needed info.... I believe the learningpath is started now....

@Lock:
I will follow your thread very closely it's very informative for me! Thanks for that...
How long is/was your learningpath untill now for the Market Profile with JDalton?

If you hear JDalton speaking it must be a different world in the beginning as he was your mentor!
You can manage risk, but you can't manage the return
  • #5,942
  • Oct 16, 2016 4:22pm Oct 16, 2016 4:22pm
Quoting HappyMe
Perfect!! With a little effort I found all the needed info.... I believe the learningpath is started now.... @Lock: I will follow your thread very closely it's very informative for me! Thanks for that... How long is/was your learningpath untill now for the Market Profile with JDalton? If you hear JDalton speaking it must be a different world in the beginning as he was your mentor!

You're welcome again, HappyMe. About my mentorship it took years and let me say it never finished. And I think this is one of the most important thing I learned by Dalton: you never ever have to stop your learning process if you want to survive in this work.

Best L.
Ubi maior minor cessat
  • #5,943
  • Oct 27, 2016 9:57am Oct 27, 2016 9:57am
Quoting mzvega
{quote} Good to see you back! Im not sure if it was a mistype of a “P” when you meant a”b” or visa versa. But either way imo ther was niether a “short covering rally” or “long liquidation break”. I went into this subject before. I posted a couple of cheat sheets per info from “Mind over Markets”. http://www.forexfactory.com/showthre...16#post4679016 as per "mind over markets" page 131: "Summary of Short Covering and Long Liquidation” A Profile beginning to develop the shape of a "P" or a "b" does not infer that short covering...
Digging this particular piece up for a specific question.

How about when the market is trending down and we get a b day that closes on the high? What exactly is the market telling us? That is definitely not a long liquidation day as it would occur on a day where the previous day was already short.

So, price rotates all at the lows for a while then extends uparwd and closes on the high to form a b by the end of day.
  • #5,944
  • Oct 27, 2016 11:55am Oct 27, 2016 11:55am
Quoting HappyMe
Perfect!! With a little effort I found all the needed info.... I believe the learningpath is started now.... @Lock: I will follow your thread very closely it's very informative for me! Thanks for that... How long is/was your learningpath untill now for the Market Profile with JDalton? If you hear JDalton speaking it must be a different world in the beginning as he was your mentor!
Agreed, me too. here we can share information that is very useful to improve the benefits that we get from forex trading and hopefully more and more people join and share their knowledge.
  • #5,945
  • Edited 12:00pm Oct 28, 2016 11:20am | Edited 12:00pm
This thread is nothing less than a work of Art. A lot of work, sharing and collaboration here with really great outcomes, I love it.

LOCK, your indicator's really great, thank you.

Can you, or someone, say more about or direct me to information about the US and the US Pit sessions and the overlap with the Euro session.

Thanks to everyone here.
  • #5,946
  • Nov 8, 2016 5:54pm Nov 8, 2016 5:54pm
Quoting Lock
Hello everyone, I made a little mod in order to have a better visualization of the value area, adding a border to it. Plus If "SplitProfileNumSes" is set to "0" (meaning: split the letters of the last profile only) you will have the value area and the half back line expanded up to the current bar. {image} PS: Note that this indicator has still a main issue when a price data gap inside a bar happens. This could happen during a news if for instance the m30 timeframe will not receive data from the server. It's a rare event but it could happen. In this...

Could you please clarify a question?

To the left side we have the real volume and to the right side each letter represents a candle?

Hugs!
Best Regards! DaniP.
  • #5,947
  • Nov 8, 2016 11:58pm Nov 8, 2016 11:58pm
Quoting DaniP
{quote} Could you please clarify a question? To the left side we have the real volume and to the right side each letter represents a candle? Hugs!

Well the volumes are not "so real" because the way this tool use them is a sort of cumulative attempt and not a linear method to sum volumes at a particular level. About the letters, yes any column of letter represents a m30 period. In any case I strongly suggest you to read the market profile manual edited by the Chicago Boards of Trade before any further step in this matter. Best L.
Ubi maior minor cessat
  • #5,948
  • Edited 4:56am Nov 9, 2016 4:42am | Edited 4:56am
Quoting Lock
{quote} Well the volumes are not "so real" because the way this tool use them is a sort of cumulative attempt and not a linear method to sum volumes at a particular level. About the letters, yes any column of letter represents a m30 period. In any case I strongly suggest you to read the market profile manual edited by the Chicago Boards of Trade before any further step in this matter. Best L.
ty..

I would like to ask you a little more about the tool, and if you can answer me, I would be very grateful!

Figure 1: Where were circulated in figure 1, would a new bar be forming there? Why are the letters just ahead of the orange and yellow bar?

Figure 2: In figure 2, we have the day of the week, just below the date, and then what are the last two?

Figure 3: In figure 3, the orange bar I suppose it would be like it was the right time candle ?, when orange (market downward), and when blue (market upward), that's right?
And the yellow bar? what would it be?


* Would you link to the Chicago document you mentioned above so that I can read and understand it better?
Hugs again and thank you for your time to answer me!
Attached Images
Best Regards! DaniP.
  • #5,949
  • Nov 9, 2016 5:18am Nov 9, 2016 5:18am
Quoting DaniP
{quote} ty.. I would like to ask you a little more about the tool, and if you can answer me, I would be very grateful! Figure 1: Where were circulated in figure 1, would a new bar be forming there? Why are the letters just ahead of the orange and yellow bar? Figure 2: In figure 2, we have the day of the week, just below the date, and then what are the last two? Figure 3: In figure 3, the orange bar I suppose it would be like it was the right time candle ?, when orange (market downward), and when blue (market upward), that's right? And the yellow...

Market profile manual

For the other questions I suggest you to go and read all what I wrote in the Lock's Cable Corner. You will find a lot of information and all the answer you are searching for in a detailed way. Best L

PS: just to give you a quick one about your Q.: the blue and orange are session's ranges up or down as you wrote. The yellow one is the initial balance. (the range of the first 2 bars of any session). About the info downside they are only the range of the current session, the range between open and close; and the percentage of the total range made by the second figure compared with the first one.
Example:
A: high-low 100 pips range,
B: open-close 10 pips range,
C: B is the 10% of A

PPS: please subscribe if you like.
Ubi maior minor cessat
  • #5,950
  • Nov 9, 2016 8:38am Nov 9, 2016 8:38am
Quoting Lock
{quote} Market profile manual For the other questions I suggest you to go and read all what I wrote in the Lock's Cable Corner. You will find a lot of information and all the answer you are searching for in a detailed way. Best L PS: just to give you a quick one about your Q.: the blue and orange are session's ranges up or down as you wrote. The yellow one is the...
I registered her with great pleasure!Starting the readings.Thank you so much!
Best Regards! DaniP.
  • #5,951
  • Nov 9, 2016 6:48pm Nov 9, 2016 6:48pm
Quoting Lock
{quote} Market profile manual For the other questions I suggest you to go and read all what I wrote in the Lock's Cable Corner. You will find a lot of information and all the answer you are searching for in a detailed way. Best L PS: just to give you a quick one about your Q.: the blue and orange are session's ranges up or down as you wrote. The yellow one is the initial balance. (the range of the...
Just your idea!

As pictured below, I operate a lot of Gold and would like to know which "RowHeight" appropriate to use in the Gold M30 chart?

Because I put 70, if I leave in 2 or 3 or even in 10, I just can not see anything but colors.

-What can impact?
-Does something change?

Because by what I understood the "RowHeight" and the size of the letters and volumes in pips, correct?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 171 KB
Best Regards! DaniP.
  • #5,952
  • Nov 10, 2016 1:04am Nov 10, 2016 1:04am
Quoting DaniP
{quote} Just your idea! As pictured below, I operate a lot of Gold and would like to know which "RowHeight" appropriate to use in the Gold M30 chart? Because I put 70, if I leave in 2 or 3 or even in 10, I just can not see anything but colors. -What can impact? -Does something change? Because by what I understood the "RowHeight" and the size of the letters and volumes in pips, correct? {image}
It depends on the data provided by your broker. With one of my broker if I work with indexes like S&P 500 for instance, the row high is 25, because a point is 4x25=100. But it depends. Also It is your choice considering what you want to see in a particular situation. For instance if you have huge volatility in cable like after brexit you could opt to use a bigger row high like 5 or 10 instead of the normal 1. You could also have a couple of different charts, in one of them you will have a bigger perspective using for instance 2 pips for RH while in the other you will have a more detailed one using the normal 1 for RH. Best L.
Ubi maior minor cessat
  • #5,953
  • Nov 10, 2016 4:39am Nov 10, 2016 4:39am
Quoting Lock
{quote} It depends on the data provided by your broker. With one of my broker if I work with indexes like S&P 500 for instance, the row high is 25, because a point is 4x25=100. But it depends. Also It is your choice considering what you want to see in a particular situation. For instance if you have huge volatility in cable like after brexit you could opt to use a bigger row high like 5 or 10 instead of the normal 1. You could also have a couple of different charts, in one of them you will have a bigger perspective using for instance 2 pips for...

But I still do not understand what can impact the "RH"..

Is it just to improve the visualization?

- If you were to use gold, how much would you use? Is the pip/oz calculation a bit different from the parities, correct?

Hugs!
Best Regards! DaniP.
  • #5,954
  • Edited 2:23am Nov 17, 2016 1:51am | Edited 2:23am
Hi traders! Maybe you know custom market profile indicator for MT5? I find two indicators in codebase for MT5, but they make my CPU load 30-50% lol.
Attached File(s)
File Type: mq5 marketprofile.mq5   8 KB | 484 downloads
File Type: mq5 marketprofile_.mq5   12 KB | 488 downloads
  • #5,955
  • Nov 20, 2016 8:53am Nov 20, 2016 8:53am
Quoting DaniP
{quote} But I still do not understand what can impact the "RH".. Is it just to improve the visualization? - If you were to use gold, how much would you use? Is the pip/oz calculation a bit different from the parities, correct? Hugs!

I'm sorry, I didn't see your replay. The row high derives from the measure unit used in a particular instrument. Then, you may also modify it in order to have a different visualization of the profiles. For gold you may use 10 in a normal condition. If you are experiencing huge volatility you may change it at will in order to obtain a most synthetic visualization of the chart, otherwhise you risk to loos the full perspective.
Ubi maior minor cessat
  • #5,956
  • Nov 20, 2016 4:48pm Nov 20, 2016 4:48pm
Quoting Lock
{quote} I'm sorry, I didn't see your replay. The row high derives from the measure unit used in a particular instrument. Then, you may also modify it in order to have a different visualization of the profiles. For gold you may use 10 in a normal condition. If you are experiencing huge volatility you may change it at will in order to obtain a most synthetic visualization of the chart, otherwhise you risk to loos the full perspective.
Ok!

tkz reply, I read the pdf "market profile".. I'm learning day-day..
Best Regards! DaniP.
  • #5,957
  • Nov 22, 2016 6:16pm Nov 22, 2016 6:16pm
Quoting otten
Hi traders! Maybe you know custom market profile indicator for MT5? I find two indicators in codebase for MT5, but they make my CPU load 30-50% lol. {file} {file}
also havin trouble to find a MP indicator for MT5, im looking for one that shows VAL, VAH, POC, VPOC etc..
  • #5,958
  • Nov 23, 2016 1:16pm Nov 23, 2016 1:16pm
Quoting Lock
{quote} I'm sorry, I didn't see your replay. The row high derives from the measure unit used in a particular instrument. Then, you may also modify it in order to have a different visualization of the profiles. For gold you may use 10 in a normal condition. If you are experiencing huge volatility you may change it at will in order to obtain a most synthetic visualization of the chart, otherwhise you risk to loos the full perspective.
Hi Lock, follow below:

"Hi Lock!
Sorry for the inconvenience again, but could you please kindly ask me a question?

- I still did not understand what the values would look like below:

Attached Image



- What would this "extend ib"?

Attached Image



- I still can not find a definition for the yellow bar..

Attached Image



- We currently have four major market sections: Sydney, Tokyo, London and New York, but in the indicator there are five pit, could you tell me what this section would be?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 10 KB


- Finally I would like to understand why these letters in front of the bars, I mean why they are not that neither the others, in their due bars?

Attached Image
Attached Image



Thank you so much for everything done here and for the patience with us "beginners".

I hope I was not inconvenient, and I hope you can answer me!

Strong hug!

**Sorry for my english it is very bad"
Best Regards! DaniP.
  • #5,959
  • Nov 23, 2016 1:52pm Nov 23, 2016 1:52pm
Quoting DaniP
{quote} Hi Lock, follow below: "Hi Lock! Sorry for the inconvenience again, but could you please kindly ask me a question? - I still did not understand what the values would look like below: {image}
I already answered to you here. I cannot describe it in a better way than that one. Sorry.

Quoting DaniP
- What would this "extend ib"? {image} - I still can not find a definition for the yellow bar.. {image}
Extend ib =meaning extend initial balance range. It visualize the range of the initial balance x1, 2, 3 above and below actual initial balance. The initial balance range is the range made by the first 2 m30 periods of any session. The yellow bar is infact the range of the 2 initial periods of any session: the range of the initial balance.

Quoting DaniP
- We currently have four major market sections: Sydney, Tokyo, London and New York, but in the indicator there are five pit, could you tell me what this section would be? {image}
The indicator add a fourth "session" made only by the first 3 periods after the GB session: it's the preUS open session. Is before pit US session open. Consequently the sessions are five: Sydney, Tokyo, London (GB), pre US, Pit US

Quoting DaniP
- Finally I would like to understand why these letters in front of the bars, I mean why they are not that neither the others, in their due bars? {image} {image}
They are the "splitted" periods of the last profile: in order to better visualize how the current profile is developing.

Quoting DaniP
-Thank you so much for everything done here and for the patience with us "beginners". I hope I was not inconvenient, and I hope you can answer me! Strong hug! **Sorry for my english it is very bad"
I'm very happy to answer beginners' questions and it is not a problem for me: but, please, before any further question of any kind: read and study at least the market profile manual edited by the Chicago Board of Trade and the 2 books written by James Dalton. (Jim Dalton)

Best L.
Ubi maior minor cessat
  • #5,960
  • Nov 23, 2016 2:01pm Nov 23, 2016 2:01pm
Quoting Lock
{quote} I already answered to you here. I cannot describe it in a better way than that one. Sorry. {quote} Extend ib =meaning extend initial balance range. It visualize the range of the initial balance x1, 2, 3 above and below actual initial balance. The initial balance range is the range made by the first 2 m30 periods of any session. The yellow bar is infact the range of the 2 initial periods of any session: the range of the initial balance. {quote} The indicator add...

Many thanks for answering the questions, I certainly have an improved north from now on.

- Would not you have the names of these two Dalton books to pass me by?

Hugs!
Best Regards! DaniP.
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