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Market Profile Exploring the Auction Theory

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  #21 (permalink)  
Old 27-02-2010, 03:38 PM
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Originally Posted by anshuman.c View Post
Dont know how effective , these are..

But anybody used any of these from here

Chart search | ChartHub.com..

yes good collection of md chart definations, no harm playing around with profile concepts, especially liked market rotation related stuff there.
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Old 27-02-2010, 06:59 PM
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Attached the chart definition.
Note - since those are my old codes when session start time was 9.55, there need to be some adjustments, will post working session soon here
Also i have to split chart in two parts for ease of exporting chart definitions.

Second part will post soon,in this part covered open drive, open test drive and open rejection reverse for green candle and red candle ( this one has less risk reward ratio) .
You will able to see 1) open type 2) expectations of the day so day traders will adjust the position 3) finally risk : reward ratio as per confidence leels those open types produce.
Those are very theorotical set ups and adjustment should be needed as per traders need, also kept initial balance of 30 min not 60 min, you can adjust that well, time frame on chart is 30 min.
p.s. again no intention of anything as i mentioned few posts befor that i intend to post those codes anyhow.
discussion and finetunning is welcome to make most of the market generated information also its very smal step towards system building on profile, your creative mind is needed to make complete system out of it.
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File Type: txt OPEN TYPES ONE PART.txt (4.1 KB, 64 views)
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Old 27-02-2010, 07:06 PM
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Also last type of open is ' open auction' and those r of two types withing prev balance or out of balance, mostly those types are avoided for directional biased traders except open auction below or above previous value which may give big moves, as long as i am concerned those set ups i avoid for day trading, thats why the laziness to include besides technical problems.
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Old 28-02-2010, 10:33 PM
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Second part of chart defination, here you will find calculations for negative negative development of initial balance as oppose to first part of the defination. Again its for old session time which may helpful for back test historical data in combination with other trend following concepts.
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File Type: txt Alex @ inditraders.com.txt (8.1 KB, 37 views)
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Last edited by alex; 28-02-2010 at 11:11 PM.
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Old 28-02-2010, 10:58 PM
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Finally last code, its on working session and initial balance is one hour, cant post chart defination thats why posted indicators.
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File Type: rar OPEN TYPES NEW SESSION.rar (3.3 KB, 41 views)
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Last edited by alex; 28-02-2010 at 11:20 PM.
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Old 01-03-2010, 05:17 PM
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Have someone observed POC line difference in Price profile and volume profile

Its around 80 points... where price profile shows POC as 4883, volume profile shows POC as 4963 ( 30 min TF with base as EOD)...

Now on next trading session, which POC could be taken as reference? isn't it is hard to pick one of them , even if someone dedicately following only one type of profile
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Old 01-03-2010, 10:15 PM
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Originally Posted by WOD View Post
which POC could be taken as reference?

They generally differ in Trend day or Double Distribution and choice is very personal....but i generally follow Price-Time Profile POC.
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Old 02-03-2010, 04:13 AM
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Converted to easy language/power language, see the attachment, for some reasons pla study has been password protected. Initial balance time is one hour, you can verify and get the feel on old session time as well in MC though initial balance calculations will be for 5 min so no use for backtesting. Also i kept text message limited to balance type to avoid clutter on chart.
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Last edited by alex; 02-03-2010 at 04:17 AM.
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  #29 (permalink)  
Old 02-03-2010, 04:55 AM
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Can someone make excel for this template? 1>Review yesterday’s profile for clues as to what to expect today. ;
;
2> Review the overnight markets for any unusual price movement or
early indications for the day. ;

3> Compare the expected opening to the previous day. Is it within or outside
the previous day’s range? Value area? To the upside or downside? ;

4> Relative to the expected opening, identify three references points,
both above and below the expected opening. These could be the
previous day’s high and low, weekly high or low, the top and bottom
of the previous day’s value area, or the high or low of a recent trading
range. 5> Note what kind of opening is occurring, as well as what you’d want to
see in order to quickly judge the resulting directional confidence.
6> Note whether or not there is clear attempted direction, and whether
that activity is supported by volume. ;

7> Does the market appear to be within balance or out of balance? ;

8> Visualize the remainder of the day. Will it look elongated, squat, fairly
normal like a bell-shaped curve, and the like. Note any unusual shapes
or patterns that may suggest something unexpected is happening. ;

9> Estimate how much effort is being expended to move price directionally,
and note what that suggests about the inventory conditions of
your competitors—too long, too short, above water, below water, etc. ;

10> If there is a major news announcement scheduled, be aware that there
could be unexpected volatility. ;
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Last edited by alex; 02-03-2010 at 05:04 AM.
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  #30 (permalink)  
Old 02-03-2010, 11:37 AM
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Establishing the value at higher extreme of yesterdays profile, no responsive selling so far, open interest is very low compare to prev day, but one interesting thing happened in last half am hour of trade, there was huge liquidation of open positions which mostly were longs, and now today again building up at higher value zone, VIX ( my excel calculated) is down by one point, overall it needs more conviction to break higher side, i am not trading today, but would have like to short at 4995 with stop of 5005 as reference level.
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