Market/Volume Profile Indicator on Tradestation

garp · #21 11-26-2009, 01:40 PM

Originally Posted by zardoz

I went to that site garp and even there it was not clear to me whether or not they can do multi day compressed MP.

Z

Yes, it plots weekly and monthly VP and MP.

FunkyTrader · #22 12-11-2009, 06:21 AM

Hi Guys,

Very Interesting discussion, I have a TS market profile indicator that also do volume profile. It gives accurate VAH POC and VAL.
It allows Long term profiles so You can apply it almost every timeframe including the weekly .The code is open . I can share it against another MP/VP indicator. If any interest reply to me her here or by PM and show me a screenshot of what you want to share.

Have a good trading day everyone.

FT

zardoz · #23 12-11-2009, 02:11 PM

Thanks for the offer, but where are your pics? Did I miss seeing the the attachment?
What are you looking for?

Z

arorts · #24 03-21-2010, 04:26 PM

Hi Zardoz:

Could you please help me better understand how you set up the volume histogram? I do have TPO Pro5 but from there I don't know how to show a single vertical (not horizontal) volume histogram such as the one you showed in the attachment.

Does TPO Pro6.0b do that? If so, where can I find it? I've tried to locate it but no success

Thanks!

zardoz · #25 03-21-2010, 06:51 PM

TPO Pro 5 should be able to do it. What I did was make a new indicator and then codied the code from TPO into it. So I had two copies of the same thing. Then I could experiment with code changes without messing up the original. For the Volume histogram I got rid of the letters in the code "ABCDEF.......... " and replaced them with *=*=*= . Then for the inputs I used 0.25 for compress and 15 for len.

Z

aaa · #26 03-27-2010, 06:40 AM

Hi

MP uses 70 % for the VA

1 standart Dev is 68.268

Standard deviation - Wikipedia, the free encyclopedia

I hope that it helps

Regards

************************* *************

PS : The second VA on the graph below is 2 standart Dev (95.449 )

mojoe · #27 03-29-2010, 01:10 AM

I follow exactly as you decribe, could not get your chart. Would you mind posting your ELD. Thanks

BlowFish · #28 03-29-2010, 03:38 AM

Originally Posted by aaa

Hi

MP uses 70 % for the VA

1 standart Dev is 68.268

This is true, however as MP is a completely heuristic approach the VA is just a number with no statistical relevance.

There were a couple of discussions about this in the trading with market statistics thread...a search for 'heuristic' should find them.

Mustang- · #29 03-29-2010, 01:38 PM

When I think of Volume Profile and Price Profile in terms of Logic makeup of indicator its very easy for me to say that a volume profile amkes more sense on purly logical terms.

but the markets dont think and function in terms of logic, reason , science. The markets are what they are.
If you have some trading experience and monitor both Volume and Price profile it is quickly obvious that Price(TPO) profile is much more effective then Volume profile.

For trading results I would recommend a classic TPO profile.
For scientific studies I would recommend a volume profile

BlowFish · #30 03-29-2010, 02:06 PM

I'd agree on your first point VAH VAL are watched (and traded) by enough people to be significant. I disagree on the second though peak volume price, and VWAP are also pretty significant (I'd say it edges them out

) the standard deviations of the VWAP are pretty neat too. Another nice thing about those measure is they are a lot more flexible in how they can be applied. As with most thing it's how you apply them that counts.