{quote} Come to think of it you can also create sort of "orderflow" by creating a small market profiles (one profile=m30 candle). {image}
Something like this?
Trader Dale - daily trading levels
- #2,182
- Dec 19, 2016 11:00am Dec 19, 2016 11:00am
{quote} Come to think of it you can also create sort of "orderflow" by creating a small market profiles (one profile=m30 candle). {image}
did nice pivot indi that pointed out dense SL levels : [check todays USDJPY SL .. hunt?]
http://www.forexfactory.com/showthread.php?p=9177140#post9177140
I hope hell do it again with above order flow indi
What else can do M30 period market profiles on MT4 ?
- #2,183
- Edited 11:26am Dec 19, 2016 11:08am | Edited 11:26am
- Joined Aug 2016 | Status: Trader | 1,724 Posts
Very good guys! You have clearly learned very much! AUD/USD SHORT 0.7293 EUR/USD SHORT 1.0466 (this one is a bit tricky I had to use orderflow to see where the biggest orders were) It is possible that it may turn a bit sooner there. Lets see
All the best to all of you. But don't follow me. I am a learner.
- #2,184
- Dec 19, 2016 11:26am Dec 19, 2016 11:26am
- | Membership Revoked | Joined Sep 2016 | 1,511 Posts
- #2,186
- Dec 19, 2016 11:46am Dec 19, 2016 11:46am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,440 Posts
{quote} Come to think of it you can also create sort of "orderflow" by creating a small market profiles (one profile=m30 candle). {image}
Looking for profitable short term trades ...|
- #2,190
- Dec 19, 2016 2:35pm Dec 19, 2016 2:35pm
I have updated my post number 1 (http://www.forexfactory.com/showthread.php?t=608433) with some basic information. I also added Ziggy's word document and market profile indicators that were posted here. Thanx guys. From now everybody can go through some basic info there. Thanks guys for this idea.
Not all of us(i think) make use mt4 , some are with Ninjatrader, Ctrader etc
would it be possible to add a line , which indicators/*.exe etc. will have to go into which folders inside the mt4 installation , for people who are not so mt4-ish
.+ some rudimentary touch-up on the indicators, like what each does.
Then the picture on Post # 1 will be quiet complete.
Thanks !
{quote} Hi Dale Not all of us(i think) make use mt4 , some are with Ninjatrader, Ctrader etc would it be possible to add a line , which indicators will have to go into which folders in the mt4 installation , for people who are not so mt4-ish
File
.... Open Data Folder
File browser will pop up.
Then go to MQL4
And then Indicators directory.
Copy indicator files here.
File
.... Open Data Folder
File browser will pop up.
Then go to Templates dir
Copy .tpl file there
Restart MT4 and it should be fine.
Akif,
- #2,193
- Dec 19, 2016 2:45pm Dec 19, 2016 2:45pm
{quote} I'm really not an expert, I'm sure / hope an expert will give you some proper guidance. I personally want to see a composite profile that covers all the priceaction within a range developed from "new information". So for me I consider the probable 3 rather than 2 US rate increases next year as "new" information, so I set the start of my composite profile where price broke out of the previous range on the release of that news. It will just help me build up a picture over the coming days. I've no doubt others use it to much greater effect,...
Can you please expaim this using a chart? Would be much easier for me to grasp the info.
Thanks
KhalidY
{quote} Hey Ziggy, Can you please expaim this using a chart? Would be much easier for me to grasp the info.
3 charts,
1. pre release range
2, FOMC release gave hints that there will be 3 rate increases in 2017, where market was expecting 2, $ strengthens and a breakout from the range results
3. Having broken out of the range, I want to start a new composite profile which starts from this breakout and continues to run until we get a new ground shifting piece of info.
I will now look to see where the high volume areas build up, and can look to trade from the value area highs to lows and back, if that is what it looks as though the big market participants look to be doing, volume & price action will give an indication. Hope the helps Cheers Ziggy
- #2,198
- Dec 19, 2016 5:59pm Dec 19, 2016 5:59pm
I really like Dale's attitude. He started the thread humbly by writing some trading points and taught his method gradually throughout the course of the thread slowly but surely. As the demands rushed into the thread for giving more and some people started nagging and asking, he didn't engaged in those complaints as most of thread starters and strategy suppliers do, and just listened and observed. Instead of throwing a hissy fit and ramping and raging over complainers, he calmly gave them what they had requested to some extend but he still kept his methodology and left things to be learned steadily. Sorry, but you're one hell of a teacher.
way to go and good luck.
By the way, since your levels are really precise and the points I use for trading is something that you use in terms of accuracy,PA and accurate supports and resistances, I have a suggestion for your tp and sl that I think would be helpful and improve your strategy's r/r. As long as every pair has different volatility, by using this method, you can determine your sl and tp for any currency pair more easily and probably better because as you know a ten-pip movement is nothing for gbp/jpy although it could be sufficient for eur/usd. I use an ATR indicator with the period of 30 in m15 TF. My sl is the amount of ATR in the touched candle and I use twice that number for tp. For example when a candle hits my point and open my position, I look at ATR. Let's say it shows 10. I set 10 pips for sl and 20 for tp.
I looked over your points and positions and with the accuracy of your points I'm pretty sure that it would be a good idea for your strategy too.
Good luck again.