[MC]

Originally Posted by Blu-Ray »

Just knocked up a quick indicator for tradestation that follows the rules set by PivotProfiler for the pivots.


Hope this helps

Blu-Ray

Man you guys are awesome on here.

[RAVIN]

Originally Posted by ranj »

Hey Ravin,

could you explain a little more about the deviation and reaction ranges.
Thanks
Rajiv

Hi Rajiv,
Hope you managed to find some more info. on Moneytec, here is the same stuff on YM another market which I trade.

YM 30MIN WITH FIB. LEVELS

YM 15MIN WITH FLOOR PIVOTS AND KPcurrency Pivot ranges, black line is POC at 14134 which is the region where support was evident during the lunch period on Friday 5th Oct, 07, now acting as resistance

YM 5MIN WITH FLOOR PIVOTS AND 30MIN RANGE. Note the breakout of this 30min range,

Support is at 14091 which is S1(floor pivot) , also 62% fib level, Deviation range low (value 1low) and finally Friday's Low, all coming together in conjunction with that BOZO on high volume at lunch time , classic sign of strength on a down bar, low risk high probability trade long

There was also a short this morning off the POC and 31.8%fib level

It is nice when all this confluence takes place, however during times like last month when the market really gathers momentum, all support and resistance levels are blown away, have seen signs of strength and weakness in Tradeguider negated during these period and those who rely heavily on them without considering what the next bars are telling them really get hammered.

However they are certainly useful tools.

Previously I have experimented with this lot, the first 30 or 60min ranges etc have been well documented by Jake Bernstein, George Angell etc but ended up with charts with far too many horizontal lines, so much so that I used to sit there hoping for reversals at these levels and not looking at the price action.
As the Buddhist states " To see the mirror one has to stop looking at the relflection"

[RAVIN]

Here are charts from Tradeguider with the VSA signals

Dax 5min with classic No Demand, mind you it shows after the second bar
Also note the reactions at the normal Floor Pivots, 8022 is S1 plus Yesterdays low and where support was observed yesterday as well plus weekly POC if you want to throw that in.

However it is also the area where on Dax 1min chart a Basic Test Signal appears. For those interested the chart also shows an Upthrust to go short.

I normally do not switch on these VSA indicators

[RAVIN]

In the first couple of hours Dax can be traded via 5min and 1min charts with pretty good signals, once the US opens it can become difficult.

Dax 5min: a Trap upmove signal shows up with an appropriate explanation, this is right at the floor Pivot, POC, previous No demand followed by Bozo etc, exactly the location expected.

Dax 1min: this shows the classic upthrust at that point.

Also of interest to note the first 30min range in blue on Dax 5min, Note the test over the High after breakout, another point for a long entry.
Good trading

[RAVIN]

Originally Posted by Blu-Ray »

Just knocked up a quick indicator for tradestation that follows the rules set by PivotProfiler for the pivots.


Hope this helps

Blu-Ray

Hi Blu-Ray,
Wonder if you can help.
Have been trying to understand the concept and logic behind Mark Fisher POC etc.
1. The H/L/C values on Dax for Monday were 8081, 8022 and 8056 respectively.
2. The POC works out to be 8053 , with PP modified 8054 , with the value areas (reaction) 8049-58 , Deviation 8052-56, all rounded off numbers.
Have plotted the POC(black) and the Reaction values(pink) on Dax 15min here,

3. Now as far as I can understand Mark and his followers claim that this range mirror the traditional Market Profile i.e 70% of price/volume

Viewing the chart find it kind of difficult to figure that out. perhaps I am doing this all wrong. I have been operating with something solidly logical like VSA for sometime now and have got into the habit of thinking that way i.e seeking logic. Perhpas you can enlighten

[Blu-Ray]

Hi RAVIN

To be honest, I just popped onto this thread yesterday and couldn't resist making up the indicator, however I also trade the Dax but I use MP levels.

Looking on reflection of it, when you said Mark and his followers claim it mirrors MP levels, this does not seem to be true.

In the chart below, the blue lines are the Pivots and the yellow/lightgray lines are MP levels.




Hope this helps

Blu-Ray

ps. now that I've seen this thread and see your trading the dax, I like your analysis.

[RAVIN]

Thanks Blu-Ray

Mind you I could be reading this all wrong, however I checked the veracity of the calculations from the Mark Fisher's book "The Logical Trader" on the following link:
http://books.google.com/books?id=4xF...mUjGT0BkXFHs4U

Anyway glad to hear from somebody who trades Dax, how do you generate Market Profile for that market, and have you found it useful in your trading. I know there is a lot written about it on Enthios website, Dalton's Mind over markets etc Infact the chap who runs http://www.learningtotrade.com/
started off with this single concept of the important of price level at which maximum number of trades and maximum volume occurred, created zones around that where when price enters it, there is a high probability of it going to the other end and so on, now he has his own software with triangles, floating zones and what not.

[Blu-Ray]

Hi RAVIN

I calculate the MP levels using excel, it's availble to download here

http://www.traderslaboratory.com/for....html#post7227

Just input the 30 min data and it will then draw the days Market Profile.


I do find these levels very useful as you can see where the market is heading to.


Cheers

Blu-Ray