What's wrong with my YM value area?

[notouch]

I'm getting lots of different value areas depending on what charting software I'm using. MarketDelta's Market Profile value area is different to Investor/IT's value area which is different to the mypivots.com value area. What are the standard settings to get the "correct" value area?

[TinGull]

9:30-5 session time, 30 minute periods. mypivots will use 8:30-4:15 for YM. Thats why they are sometimes off.

[Soultrader]

I use the same way this site has it: Calculating Market Profile Value Area and Point of Control

[TinGull]

Also...marketdelta and InvestorRT are the same coding...done by the same guy. They shouldn't differ.

[notouch]

Thanks. I changed the MarketDelta Market Profile chart to 0830-1615 time and got the same results as mypivots.com. I was using the 24 hour chart. Investor/RT have a Value Area technical indicator you can add to a candlestick chart but it gives completely the wrong values. I'll ignore it in future.

I'm very impressed with the MarketDelta Footprint chart by the way. Notice how today's bottom coincided with the Delta (the row along the bottom) flipping from negative to positive with a high value (positive Delta of 364). You can also see buying pressure building on the way up. I'll post more information on MarketDelta as I use it more.

[TinGull]

Ah yes...the value area, profile and TPO indicators can be off if you aren't using a 30 minute chart. What I do is make reference lines and peg those to a V# variable.

Created by Camtasia Studio 3

Never have to worry about having messed up lines from the indicators, cause you take it right off the MP chart.

[notouch]

Thanks for that TinGull. Investor/IT is a great bit of software but it's going to take a while to learn to use it properly. I'll play around with it and watch the videos and read the manual. If I can get all its features to work I think it'll be the best charting software I've ever used.

[TinGull]

Cool! Just drop me a line if you've got Q's or need chart definitions

[notouch]

Having used it for a week now I don't think Investor/RT is a great piece of software. I can't believe all the problems I'm having with it. The latest issue is disappearing daily candlesticks. Maybe it hasn't been properly tested for use on a PC.

[TinGull]

Write to them and try and find out what's going on if you choose. They are usually pretty good on the support side of things.