Pivot Point Discussion

[Blu-Ray]

James

Give that link a try for Excel, it works a treat.

[Nick1984]

	Quote:	Soultrader
	I dont have access to a market profile charting package with the prop desk so I draw them manually on excel and calculate the volume at price. Then I just take the most volume price level and reorder them in order to get 70% of volume, hence value area. I do this twice a day, one after the morning session and one after the afternoon. I do not recommend this procedure as it is time consuming so best to pay for a third party market profile vendor. I have thoroughly searched the net for any value area numbers available but the only site that has it is the link provided by Blu. Im sure there is a way to program your excel and connect it with your current data feed vendor in order to get these values.

Thats what I used to do for getting a very basic MP system going using EOD data so I could set up a MP for the day's trading. I'd use the Time and Sales and break it up into 1/2 hour blocks and then log the info into excel and then then make up my own MP. This was for stocks btw not futures. MP works well on stocks as well as futures in my experience. Very time consuming.

Back to a key point in the original theme of this post was why do we use pivots? I see pivots as sticky points in the market where price usually tends to hold up and see whether it breaks or not. I don't try to understand why price starts to stall around these areas but all I care is that it does. I guess it stalls cause every Tom, Dick, and Harry knows about pivots and uses them so they become a sort of self fulfilling prophecy type thing where price stalls cause everyone expects it to stall there!

[Soultrader]

	Quote:	Blu-Ray
	James Give that link a try for Excel, it works a treat.

Is there a way for a data feed to plot the letters automatically or is this a manual process?

Also, how would you program excel to calculate the actual value area when volume is not included in the spreadsheet? I should of participated closer in the MP for Excel thread. I used to have a MP charting package so didnt think it would be necessary but without one its been quite a pain in the ass.

[Blu-Ray]

	Quote:	Soultrader
	Is there a way for a data feed to plot the letters automatically or is this a manual process? Also, how would you program excel to calculate the actual value area when volume is not included in the spreadsheet? I should of participated closer in the MP for Excel thread. I used to have a MP charting package so didnt think it would be necessary but without one its been quite a pain in the ass.

On the first page of the Excel package, displays this page below

[Nick1984]

Hey Blu, thats quite a handy spreadsheet! Much nicer than my old crappy ones I used to make. Did you write that up yourself or did you find that somewhere?

[Soultrader]

Oh wow... this is sweet. Do you know if the last price column is a necessity? Also, I am assuming a composite profile is not possible?

[Blu-Ray]

	Quote:	Soultrader
	Oh wow... this is sweet. Do you know if the last price column is a necessity? Also, I am assuming a composite profile is not possible?

I think the last price is only neccesary for the close at the end of the day, luckily I can export my data via Tradestation straight into excel so I don't have to bother typing it in.

I don't think it does a composite profile, but further on in that MP thread there were some other versions, so it might be worth taking a look or we could ask the question on that thread and someone might come up with one.

Cheers

Blu-Ray

[brownsfan019]

Blu - do you use regular trade hours or 24 hour data to plug into the Excel sheet?

Thanks

[Blu-Ray]

	Quote:	brownsfan019
	Blu - do you use regular trade hours or 24 hour data to plug into the Excel sheet? Thanks

I use regular trade hours, I believe thats what most do, as that is where the high volume is.

As in, if you study the market profile for the 24 hours period, price might hardly move in the overnight session, but the profile will keep printing out prints for those periods, giving a false impression that there's high volume around that price.

Hope this helps

Blu-Ray

[dalby]

exactly. that is why volume profiles work fine with 24 hr charts.

obviously time based profiles not so much